Hudson Bay Capital Management LP Has $16.27 Million Holdings in Optimum Communications, Inc. $OPTU

Hudson Bay Capital Management LP trimmed its position in shares of Optimum Communications, Inc. (NYSE:OPTU) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,749,991 shares of the company’s stock after selling 700,000 shares during the quarter. Hudson Bay Capital Management LP owned approximately 1.44% of Optimum Communications worth $16,267,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Optimum Communications by 114.7% in the second quarter. Geode Capital Management LLC now owns 6,052,090 shares of the company’s stock valued at $12,953,000 after acquiring an additional 3,233,449 shares during the last quarter. 140 Summer Partners LP bought a new stake in Optimum Communications during the 3rd quarter worth approximately $7,615,000. Millennium Management LLC increased its holdings in Optimum Communications by 31.0% during the 3rd quarter. Millennium Management LLC now owns 11,463,764 shares of the company’s stock valued at $27,628,000 after purchasing an additional 2,711,903 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Optimum Communications by 46.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,397,047 shares of the company’s stock valued at $17,016,000 after purchasing an additional 2,031,971 shares in the last quarter. Finally, P Schoenfeld Asset Management LP bought a new position in Optimum Communications in the 2nd quarter valued at $4,280,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

Insiders Place Their Bets

In other Optimum Communications news, General Counsel Michael Olsen sold 20,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $1.40, for a total transaction of $28,000.00. Following the completion of the sale, the general counsel directly owned 1,239,781 shares of the company’s stock, valued at approximately $1,735,693.40. The trade was a 1.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 44.60% of the company’s stock.

Optimum Communications Stock Performance

Shares of OPTU opened at $1.34 on Friday. The business’s fifty day moving average price is $1.60 and its two-hundred day moving average price is $1.93. The firm has a market capitalization of $628.06 million, a price-to-earnings ratio of -0.33 and a beta of 1.51. Optimum Communications, Inc. has a 52 week low of $1.29 and a 52 week high of $2.98.

Optimum Communications (NYSE:OPTU) last released its earnings results on Thursday, February 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). During the same period in the prior year, the company posted ($0.12) earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. As a group, research analysts forecast that Optimum Communications, Inc. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Benchmark lowered Optimum Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Citigroup lowered Optimum Communications from a “buy” rating to a “neutral” rating in a research note on Sunday, February 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optimum Communications in a report on Wednesday, January 21st. Evercore set a $2.00 price target on shares of Optimum Communications in a research report on Friday, February 13th. Finally, Raymond James Financial lowered shares of Optimum Communications from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 11th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $2.19.

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.