Michael Olsen Sells 20,000 Shares of Optimum Communications (NYSE:OPTU) Stock

Optimum Communications, Inc. (NYSE:OPTU) General Counsel Michael Olsen sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $1.40, for a total value of $28,000.00. Following the transaction, the general counsel owned 1,239,781 shares of the company’s stock, valued at approximately $1,735,693.40. This trade represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Michael Olsen also recently made the following trade(s):

• On Tuesday, February 17th, Michael Olsen sold 250,000 shares of Optimum Communications stock. The stock was sold at an average price of $1.60, for a total transaction of $400,000.00.

Optimum Communications Trading Up 1.3%

Shares of OPTU stock opened at $1.52 on Thursday. The firm has a market capitalization of $715.10 million, a P/E ratio of -0.38 and a beta of 1.51. Optimum Communications, Inc. has a 1 year low of $1.38 and a 1 year high of $2.98. The firm’s fifty day simple moving average is $1.68 and its 200 day simple moving average is $2.00.

Optimum Communications (NYSE:OPTU) last issued its quarterly 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). The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Optimum Communications’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) earnings per share. Equities research analysts anticipate that Optimum Communications, Inc. will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Optimum Communications

A number of hedge funds have recently modified their holdings of OPTU. Swiss Life Asset Management Ltd bought a new position in shares of Optimum Communications during the 3rd quarter worth approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Optimum Communications during the third quarter worth $27,000. Cibc World Markets Corp bought a new position in shares of Optimum Communications during the fourth quarter valued at $29,000. Voleon Capital Management LP bought a new position in shares of Optimum Communications during the third quarter valued at $31,000. Finally, Xponance LLC acquired a new stake in shares of Optimum Communications in the 4th quarter valued at $34,000. 54.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Optimum Communications in a research note on Wednesday, January 21st. Barclays reduced their price objective on Optimum Communications from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. Evercore set a $2.00 price objective on Optimum Communications in a research report on Friday, February 13th. Benchmark lowered Optimum Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Zacks Research raised Optimum Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $2.19.

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.