Optimum Communications, Inc. (NYSE:OPTU – Get Free Report) major shareholder Neil Subin purchased 129,808 shares of the stock in a transaction on Wednesday, July 29th. The shares were acquired at an average price of $0.76 per share, for a total transaction of $98,654.08. Following the transaction, the insider directly owned 16,646,763 shares of the company’s stock, valued at $12,651,539.88. This represents a 0.79% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Optimum Communications Trading Down 0.5%
OPTU traded down $0.01 during trading on Friday, hitting $1.01. The company’s stock had a trading volume of 1,474,975 shares, compared to its average volume of 2,295,386. Optimum Communications, Inc. has a twelve month low of $0.58 and a twelve month high of $2.79. The business’s fifty day simple moving average is $1.01 and its 200 day simple moving average is $1.20. The firm has a market capitalization of $276.66 million, a price-to-earnings ratio of -0.10 and a beta of 1.20.
Optimum Communications (NYSE:OPTU – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.50). The firm had revenue of $2.02 billion during the quarter. As a group, equities research analysts forecast that Optimum Communications, Inc. will post -0.82 earnings per share for the current fiscal year.
Institutional Trading of Optimum Communications
Analyst Ratings Changes
Several equities research analysts recently commented on OPTU shares. Wells Fargo & Company cut their price target on shares of Optimum Communications from $1.00 to $0.75 and set an “underweight” rating for the company in a report on Tuesday, August 11th. The Goldman Sachs Group set a $1.00 price objective on shares of Optimum Communications in a report on Friday, May 8th. BNP Paribas Exane upgraded shares of Optimum Communications from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 2nd. UBS Group cut their target price on shares of Optimum Communications from $2.00 to $1.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Finally, Barclays reduced their price target on shares of Optimum Communications from $2.00 to $1.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Six analysts have rated the stock with a Hold rating and four have issued 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 $0.92.
Read Our Latest Stock Report on OPTU
About Optimum Communications
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.
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