Cablevision Systems Insider James Lawrence Dolan Unloads 1,097,500 Shares (CVC)
Cablevision Systems (NYSE:CVC) Insider James Lawrence Dolan unloaded 1,097,500 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $18.20, for a total transaction of $19,974,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Cablevision Systems (NYSE:CVC) traded up 0.17% during mid-day trading on Monday, hitting $18.02. 2,646,720 shares of the company’s stock traded hands. Cablevision Systems has a 1-year low of $14.65 and a 1-year high of $20.42. The stock has a 50-day moving average of $18.3 and a 200-day moving average of $17.28. The company has a market cap of $4.886 billion and a price-to-earnings ratio of 9.10.
Cablevision Systems (NYSE:CVC) last announced its earnings results on Tuesday, August 5th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.17. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts predict that Cablevision Systems will post $0.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 5th. Stockholders of record on Friday, August 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, August 13th.
A number of research firms have recently commented on CVC. Analysts at Evercore Partners raised their price target on shares of Cablevision Systems from $7.00 to $9.00 in a research note on Friday. Separately, analysts at Citigroup Inc. upgraded shares of Cablevision Systems from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 6th. They now have a $18.00 price target on the stock, up previously from $17.00. Finally, analysts at Telsey Advisory Group reiterated a “” rating on shares of Cablevision Systems in a research note on Tuesday, August 5th. They now have a $25.00 price target on the stock. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Cablevision Systems has a consensus rating of “Hold” and an average target price of $19.47.
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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