Insider Selling: Cablevision Systems EVP Sells 60,695 Shares of Stock (CVC)
Cablevision Systems (NYSE:CVC) EVP David Ellen sold 60,695 shares of the stock on the open market in a transaction dated Thursday, August 28th. The stock was sold at an average price of $18.23, for a total transaction of $1,106,469.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
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, 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $19.09.
Shares of Cablevision Systems (NYSE:CVC) traded up 1.20% during mid-day trading on Friday, hitting $18.51. The stock had a trading volume of 1,351,159 shares. Cablevision Systems has a 52 week low of $14.65 and a 52 week high of $20.42. The stock’s 50-day moving average is $18.50 and its 200-day moving average is $17.46. The company has a market cap of $5.019 billion and a price-to-earnings ratio of 9.26.
Cablevision Systems (NYSE:CVC) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.11 earnings per share. Cablevision Systems’s revenue was up 3.7% compared to the same quarter last year. Analysts expect that Cablevision Systems will post $1.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Wednesday, August 13th.
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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