Cablevision Systems Insider Sells $75,305 in Stock (CVC)
Cablevision Systems (NYSE:CVC) Insider Patrick Francis Dolan unloaded 4,115 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $18.30, for a total transaction of $75,304.50. Following the completion of the sale, the insider now directly owns 203,279 shares in the company, valued at approximately $3,720,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Cablevision Systems (NYSE:CVC) traded down 0.11% on Thursday, hitting $18.29. The stock had a trading volume of 1,791,272 shares. Cablevision Systems has a one year low of $14.65 and a one year high of $20.42. The stock has a 50-day moving average of $18.50 and a 200-day moving average of $17.46. The company has a market cap of $4.959 billion and a P/E ratio of 9.27.
Cablevision Systems (NYSE:CVC) last released its earnings data on Tuesday, August 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts expect that Cablevision Systems will post $1.05 EPS 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 3.28%. The ex-dividend date of this dividend is Wednesday, August 13th.
A number of analysts have recently weighed in on CVC shares. 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, August 8th. 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $19.09.
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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