Brokerages Set Optimum Communications, Inc. (NYSE:OPTU) Target Price at $0.95

Optimum Communications, Inc. (NYSE:OPTU) has been assigned a consensus rating of “Reduce” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $0.95.

A number of analysts have recently commented on the company. Evercore set a $1.25 price target on Optimum Communications in a research note on Tuesday, May 12th. UBS Group lowered their price target on Optimum Communications from $2.00 to $1.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. The Goldman Sachs Group set a $1.00 price target on Optimum Communications in a research note on Friday, May 8th. Raymond James Financial cut Optimum Communications from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 11th. Finally, Zacks Research upgraded Optimum Communications from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 16th.

Insider Activity

In related news, General Counsel Michael Olsen sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $1.59, for a total value of $31,800.00. Following the completion of the transaction, the general counsel directly owned 1,199,781 shares in the company, valued at approximately $1,907,651.79. The trade was a 1.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 60,000 shares of company stock valued at $85,600. 44.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Optimum Communications

Several institutional investors and hedge funds have recently modified their holdings of OPTU. Swiss Life Asset Management Ltd acquired a new position in shares of Optimum Communications in the 3rd quarter valued at approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Optimum Communications in the 3rd quarter valued at approximately $27,000. Cibc World Markets Corp acquired a new position in shares of Optimum Communications in the 4th quarter valued at approximately $29,000. Voleon Capital Management LP acquired a new position in shares of Optimum Communications in the 3rd quarter valued at approximately $31,000. Finally, Cidel Asset Management Inc. acquired a new position in shares of Optimum Communications in the 1st quarter valued at approximately $32,000. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Optimum Communications Price Performance

Shares of OPTU stock opened at $0.67 on Friday. The stock has a market cap of $317.38 million, a PE ratio of -0.07 and a beta of 1.56. The stock has a 50-day moving average of $1.30 and a 200-day moving average of $1.58. Optimum Communications has a one year low of $0.62 and a one year high of $2.98.

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.