Analysts Set Optimum Communications, Inc. (NYSE:OPTU) Target Price at $0.95

Shares of Optimum Communications, Inc. (NYSE:OPTU) have earned a consensus recommendation of “Reduce” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $0.95.

Several equities analysts have recently issued reports on OPTU shares. Wall Street Zen downgraded Optimum Communications from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. The Goldman Sachs Group set a $1.00 target price on Optimum Communications in a research report on Friday, May 8th. Evercore set a $1.25 target price on Optimum Communications in a research note on Tuesday, May 12th. Zacks Research upgraded Optimum Communications from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings raised Optimum Communications from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 30th.

Optimum Communications Stock Down 13.0%

NYSE OPTU traded down $0.16 on Friday, hitting $1.07. The stock had a trading volume of 7,190,047 shares, compared to its average volume of 14,653,531. The company’s 50-day moving average is $1.11 and its two-hundred day moving average is $1.42. Optimum Communications has a one year low of $0.58 and a one year high of $2.98. The stock has a market cap of $509.82 million, a price-to-earnings ratio of -0.11 and a beta of 1.15.

Insider Buying and Selling at Optimum Communications

In related news, General Counsel Michael Olsen sold 20,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,907,651.79. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 60,000 shares of company stock worth $71,800 in the last quarter. 43.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Optimum Communications

Several large investors have recently bought and sold shares of the stock. Man Group plc boosted its stake in shares of Optimum Communications by 6.4% during the 2nd quarter. Man Group plc now owns 101,736 shares of the company’s stock worth $218,000 after acquiring an additional 6,137 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Optimum Communications by 1.2% during 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 purchasing an additional 7,470 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Optimum Communications by 41.6% during the second quarter. Lazard Asset Management LLC now owns 28,667 shares of the company’s stock valued at $61,000 after purchasing an additional 8,420 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Optimum Communications by 28.0% during the third quarter. CANADA LIFE ASSURANCE Co now owns 43,905 shares of the company’s stock valued at $103,000 after purchasing an additional 9,598 shares during the last quarter. Finally, Swiss Life Asset Management Ltd acquired a new position in shares of Optimum Communications in the 3rd quarter valued at $26,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

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.