Compass Rose Asset Management LP Invests $825,000 in Optimum Communications, Inc. $OPTU

Compass Rose Asset Management LP bought a new position in shares of Optimum Communications, Inc. (NYSE:OPTU) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 500,000 shares of the company’s stock, valued at approximately $825,000. Optimum Communications comprises about 0.1% of Compass Rose Asset Management LP’s investment portfolio, making the stock its 21st largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in OPTU. Vanguard Group Inc. acquired a new position in shares of Optimum Communications during the 4th quarter worth approximately $46,002,000. Goldman Sachs Group Inc. purchased a new stake in shares of Optimum Communications during the 4th quarter valued at approximately $12,534,000. Geode Capital Management LLC purchased a new stake in shares of Optimum Communications during the 4th quarter valued at approximately $10,324,000. Norges Bank purchased a new stake in shares of Optimum Communications during the 4th quarter valued at approximately $7,628,000. Finally, 140 Summer Partners LP purchased a new stake in shares of Optimum Communications during the 3rd quarter valued at approximately $7,615,000. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on OPTU. Raymond James Financial lowered shares of Optimum Communications from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 11th. The Goldman Sachs Group set a $1.00 price target on shares of Optimum Communications in a research report on Friday, May 8th. Barclays reduced their price target on shares of Optimum Communications from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Weiss Ratings raised shares of Optimum Communications from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 28th. Finally, Zacks Research raised shares of Optimum Communications from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 16th. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $0.95.

Optimum Communications Stock Up 3.2%

Shares of NYSE OPTU opened at $1.12 on Friday. The firm has a market cap of $531.26 million, a price-to-earnings ratio of -0.11 and a beta of 1.36. Optimum Communications, Inc. has a 52-week low of $0.58 and a 52-week high of $2.98. The business’s 50 day moving average is $1.21 and its two-hundred day moving average is $1.51.

Insider Transactions at Optimum Communications

In other Optimum Communications news, General Counsel Michael Olsen sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $1.59, for a total value of $31,800.00. Following the sale, the general counsel owned 1,199,781 shares of the company’s stock, valued at $1,907,651.79. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 60,000 shares of company stock valued at $80,000 over the last 90 days. 44.60% of the stock is owned by insiders.

Optimum Communications 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.