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

Optimum Communications, Inc. (NYSE:OPTU) General Counsel Michael Olsen sold 20,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $1.40, for a total value of $28,000.00. Following the transaction, the general counsel directly owned 1,239,781 shares in the company, valued at $1,735,693.40. The trade was a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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 value of $400,000.00.

Optimum Communications Price Performance

Shares of OPTU opened at $1.50 on Wednesday. The company has a market capitalization of $703.34 million, a price-to-earnings ratio of -0.37 and a beta of 1.51. Optimum Communications, Inc. has a fifty-two week low of $1.38 and a fifty-two week high of $2.98. The business’s 50-day moving average is $1.68 and its 200-day moving average is $2.00.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OPTU. Benchmark lowered Optimum Communications from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Citigroup downgraded Optimum Communications from a “buy” rating to a “neutral” rating in a research note on Sunday, February 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Optimum Communications in a report on Wednesday, January 21st. Zacks Research raised Optimum Communications from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Evercore set a $2.00 price objective on shares of Optimum Communications in a research report on Friday, February 13th. Four equities 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 currently has an average rating of “Reduce” and a consensus price target of $2.19.

Institutional Investors Weigh In On Optimum Communications

Large investors have recently added to or reduced their stakes in the stock. Swiss Life Asset Management Ltd acquired a new position in Optimum Communications during the third quarter valued at approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Optimum Communications in the 3rd quarter valued at $27,000. Voleon Capital Management LP bought a new position in Optimum Communications in the 3rd quarter worth $31,000. Wealth Enhancement Advisory Services LLC lifted its position in Optimum Communications by 50.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,300 shares of the company’s stock worth $39,000 after acquiring an additional 5,156 shares during the last quarter. Finally, Morningstar Investment Management LLC bought a new stake in Optimum Communications during the third quarter valued at about $39,000. Institutional investors own 54.85% of the company’s stock.

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.