Optimum Communications, Inc. (NYSE:OPTU) Stock Has Average Price Target of $0.92

Shares of Optimum Communications, Inc. (NYSE:OPTU) have earned a consensus rating of “Reduce” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $0.92.

OPTU has been the topic of a number of research reports. BNP Paribas Exane raised Optimum Communications from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Zacks Research downgraded shares of Optimum Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, August 31st. Wall Street Zen lowered shares of Optimum Communications from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 26th. Wells Fargo & Company lowered their price objective on shares of Optimum Communications from $1.00 to $0.75 and set an “underweight” rating on the stock in a report on Tuesday, August 11th. Finally, Weiss Ratings lowered shares of Optimum Communications from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, September 11th.

Insider Buying and Selling at Optimum Communications

In other Optimum Communications news, major shareholder Neil S. Subin purchased 171,711 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average price of $0.83 per share, with a total value of $142,520.13. Following the transaction, the insider owned 19,548,909 shares in the company, valued at $16,225,594.47. The trade was a 0.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have bought 3,032,354 shares of company stock valued at $2,455,613. Corporate insiders own 43.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cerberus Capital Management L.P. purchased a new stake in Optimum Communications in the 4th quarter valued at $6,502,000. CastleKnight Management LP purchased a new position in Optimum Communications during the 4th quarter worth $8,422,000. Empyrean Capital Partners LP bought a new stake in shares of Optimum Communications in the 4th quarter worth $41,297,000. Mount Capital Ltd bought a new stake in shares of Optimum Communications in the 4th quarter worth $6,418,000. Finally, BW Gestao de Investimentos Ltda. purchased a new stake in shares of Optimum Communications in the fourth quarter valued at about $1,618,000. Institutional investors own 54.85% of the company’s stock.

Optimum Communications Trading Up 1.5%

OPTU opened at $1.03 on Friday. The company has a fifty day moving average price of $0.92 and a two-hundred day moving average price of $1.13. Optimum Communications has a 1-year low of $0.58 and a 1-year high of $2.74. The company has a market cap of $282.11 million, a P/E ratio of -0.10 and a beta of 1.25.

Optimum Communications (NYSE:OPTU) last issued its earnings results on Thursday, August 6th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.50). The firm had revenue of $2.02 billion during the quarter. On average, research analysts forecast that Optimum Communications will post -0.83 EPS for the current fiscal year.

Optimum Communications Company Profile

Optimum Communications, Inc is a telecommunications and broadband services provider operating under the Optimum brand. The company offers high-speed internet, video and television services, mobile connectivity, digital voice, and related communications products to residential customers. It also provides internet, phone, networking, and other connectivity solutions for businesses and organizations.

The company’s operations are concentrated in the United States, serving customers across a range of metropolitan and regional markets.