Short Interest in Cablevision Systems Expands By 7.7% (CVC)
Cablevision Systems (NYSE:CVC) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 47,689,601 shares, a growth of 7.7% from the April 30th total of 44,283,172 shares, Analyst Ratings Network reports. Currently, 23.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,996,900 shares, the days-to-cover ratio is currently 11.9 days.
In other Cablevision Systems news, CFO Gregg G. Seibert unloaded 83,394 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $17.44, for a total transaction of $1,454,391.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Telsey Advisory Group raised their price target on shares of Cablevision Systems from $23.00 to $25.00 in a research note on Friday, May 9th. They now have a “not rated” rating on the stock. Analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Cablevision Systems in a research note on Friday, May 9th. They now have a $17.00 price target on the stock, up previously from $15.00. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Cablevision Systems currently has a consensus rating of “Hold” and a consensus target price of $18.33.
Shares of Cablevision Systems (NYSE:CVC) opened at 17.53 on Monday. Cablevision Systems has a 52 week low of $13.88 and a 52 week high of $20.16. The stock’s 50-day moving average is $17.04 and its 200-day moving average is $16.76. The company has a market cap of $4.744 billion and a price-to-earnings ratio of 8.20.
Cablevision Systems (NYSE:CVC) last released its earnings data on Thursday, May 8th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.30. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts expect that Cablevision Systems will post $0.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Wednesday, May 21st.
Cablevision Systems Corporation (NYSE:CVC), through its wholly owned subsidiary CSC Holdings, LLC (CSC Holdings, and collectively with Cablevision) and their subsidiaries operates in the United States based on the number of video customers.
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