Key Points
- Michael Olsen, Optimum Communications' General Counsel, sold 20,000 shares on May 1 at an average price of $1.59 (total $31,800) under a pre-arranged Rule 10b5-1 plan, leaving him with 1,199,781 shares (a 1.64% ownership decline).
- Olsen has made multiple recent sales — including 250,000 shares on Feb. 17 — signaling continued insider disposition over several months.
- Optimum recently reported a quarterly EPS of -$0.15 (missing estimates) with revenue down 2.3%, the stock trades near its 50-day/200-day averages and analysts' consensus is a Reduce rating with a $1.88 target.
Optimum Communications, Inc. (NYSE:OPTU - Get Free Report) General Counsel Michael Olsen sold 20,000 shares of Optimum Communications stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $1.59, for a total value of $31,800.00. Following the completion of the sale, the general counsel owned 1,199,781 shares in the company, valued at approximately $1,907,651.79. This trade represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Olsen also recently made the following trade(s):
- On Wednesday, April 1st, Michael Olsen sold 20,000 shares of Optimum Communications stock. The stock was sold at an average price of $1.29, for a total value of $25,800.00.
- On Monday, March 2nd, Michael Olsen sold 20,000 shares of Optimum Communications stock. The stock was sold at an average price of $1.40, for a total value of $28,000.00.
- On Tuesday, February 17th, Michael Olsen sold 250,000 shares of Optimum Communications stock. The stock was sold at an average price of $1.60, for a total value of $400,000.00.
Optimum Communications Price Performance
Shares of OPTU stock opened at $1.51 on Tuesday. The business's fifty day moving average price is $1.45 and its 200 day moving average price is $1.71. Optimum Communications, Inc. has a 1-year low of $1.20 and a 1-year high of $2.98. The firm has a market capitalization of $708.04 million, a PE ratio of -0.38 and a beta of 1.56.
Optimum Communications (NYSE:OPTU - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.12) EPS. Equities research analysts expect that Optimum Communications, Inc. will post -0.4 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Optimum Communications
Several hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Optimum Communications by 50.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,300 shares of the company's stock worth $39,000 after purchasing an additional 5,156 shares during the last quarter. Man Group plc boosted its position in shares of Optimum Communications by 6.4% in the second quarter. Man Group plc now owns 101,736 shares of the company's stock worth $218,000 after acquiring an additional 6,137 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Optimum Communications by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 644,142 shares of the company's stock worth $1,713,000 after acquiring an additional 7,470 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Optimum Communications by 41.6% in the second quarter. Lazard Asset Management LLC now owns 28,667 shares of the company's stock worth $61,000 after acquiring an additional 8,420 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Optimum Communications by 28.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 43,905 shares of the company's stock worth $103,000 after acquiring an additional 9,598 shares during the last quarter. 54.85% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
OPTU has been the topic of several research analyst reports. Weiss Ratings raised Optimum Communications from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, April 29th. Raymond James Financial downgraded Optimum Communications from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 11th. Benchmark downgraded Optimum Communications from a "buy" rating to a "hold" rating in a research report on Tuesday, February 10th. Zacks Research raised Optimum Communications from a "strong sell" rating to a "hold" rating in a report on Thursday, April 16th. Finally, Evercore set a $2.00 price target on Optimum Communications in a research report on Friday, February 13th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $1.88.
View Our Latest Stock Analysis on OPTU
Optimum Communications Company Profile
(
Get Free Report)
Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to approximately five million residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.
Further Reading
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