Foursixthree Capital LP Has $9.77 Million Stake in Optimum Communications, Inc. $OPTU

Foursixthree Capital LP lifted its position in shares of Optimum Communications, Inc. (NYSE:OPTU) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,055,638 shares of the company’s stock after purchasing an additional 478,180 shares during the period. Optimum Communications accounts for 2.7% of Foursixthree Capital LP’s portfolio, making the stock its 8th largest holding. Foursixthree Capital LP owned 0.86% of Optimum Communications worth $9,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Optimum Communications by 114.7% in the 2nd quarter. Geode Capital Management LLC now owns 6,052,090 shares of the company’s stock valued at $12,953,000 after purchasing an additional 3,233,449 shares during the last quarter. 140 Summer Partners LP acquired a new position in Optimum Communications during the third quarter worth approximately $7,615,000. Goldman Sachs Group Inc. raised its stake in Optimum Communications by 46.6% in the first quarter. Goldman Sachs Group Inc. now owns 6,397,047 shares of the company’s stock valued at $17,016,000 after buying an additional 2,031,971 shares during the period. P Schoenfeld Asset Management LP bought a new stake in Optimum Communications in the second quarter valued at approximately $4,280,000. Finally, First Trust Advisors LP acquired a new stake in shares of Optimum Communications in the second quarter valued at approximately $3,829,000. 54.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research upgraded Optimum Communications from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Evercore set a $2.00 price target on Optimum Communications in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optimum Communications in a report on Wednesday, January 21st. Benchmark cut shares of Optimum Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Citigroup downgraded shares of Optimum Communications from a “buy” rating to a “neutral” rating in a report on Sunday, February 15th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $2.19.

Optimum Communications Stock Down 2.1%

NYSE OPTU opened at $1.41 on Monday. The company has a market capitalization of $663.35 million, a P/E ratio of -0.35 and a beta of 1.51. Optimum Communications, Inc. has a 12-month low of $1.35 and a 12-month high of $2.98. The firm has a 50-day moving average price of $1.63 and a two-hundred day moving average price of $1.95.

Optimum Communications (NYSE:OPTU) last announced its earnings results on Thursday, February 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.14). During the same period in the prior year, the company earned ($0.12) EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities analysts expect that Optimum Communications, Inc. will post -0.24 EPS for the current year.

Insider Transactions at Optimum Communications

In related news, General Counsel Michael Olsen sold 20,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $1.40, for a total transaction of $28,000.00. Following the sale, the general counsel owned 1,239,781 shares of the company’s stock, valued at $1,735,693.40. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 44.60% of the stock is owned by corporate 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.