Brokerages Set Optimum Communications, Inc. (NYSE:OPTU) PT at $2.55

Shares of Optimum Communications, Inc. (NYSE:OPTU) have earned an average rating of “Reduce” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $2.55.

OPTU has been the topic of a number of recent analyst reports. Zacks Research lowered Optimum Communications from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. Barclays dropped their price target on Optimum Communications from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Citigroup cut their price target on shares of Optimum Communications from $3.25 to $2.75 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Benchmark lowered shares of Optimum Communications from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optimum Communications in a research report on Wednesday, January 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OPTU. Swiss Life Asset Management Ltd purchased a new position in shares of Optimum Communications in the 3rd quarter valued at approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Optimum Communications in the third quarter worth $27,000. May Hill Capital LLC purchased a new position in Optimum Communications during the second quarter valued at $29,000. Voleon Capital Management LP bought a new stake in shares of Optimum Communications during the 3rd quarter valued at $31,000. Finally, Ritholtz Wealth Management purchased a new stake in shares of Optimum Communications in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Optimum Communications Price Performance

NYSE OPTU opened at $1.62 on Thursday. Optimum Communications has a 1 year low of $1.52 and a 1 year high of $3.20. The stock has a market capitalization of $761.13 million, a PE ratio of -0.41 and a beta of 1.51. The business’s 50-day moving average is $1.75 and its 200 day moving average is $2.09.

Optimum Communications Company Profile

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.