Compass Rose Asset Management LP Purchases New Position in Optimum Communications, Inc. $OPTU

Compass Rose Asset Management LP purchased a new stake in Optimum Communications, Inc. (NYSE:OPTU) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 500,000 shares of the company’s stock, valued at approximately $825,000. Optimum Communications makes up 0.1% of Compass Rose Asset Management LP’s investment portfolio, making the stock its 21st largest holding. Compass Rose Asset Management LP owned about 0.11% of Optimum Communications as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss Life Asset Management Ltd purchased a new position in shares of Optimum Communications in the 3rd quarter valued at about $26,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Optimum Communications in the 3rd quarter valued at about $27,000. Voleon Capital Management LP purchased a new position in shares of Optimum Communications in the 3rd quarter valued at about $31,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Optimum Communications by 50.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,300 shares of the company’s stock valued at $39,000 after purchasing an additional 5,156 shares in the last quarter. Finally, Morningstar Investment Management LLC purchased a new position in shares of Optimum Communications in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Analyst Ratings Changes

OPTU has been the topic of several research analyst reports. Barclays lowered their price objective on Optimum Communications from $2.00 to $1.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. UBS Group lowered their price objective on Optimum Communications from $2.00 to $1.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Citigroup cut Optimum Communications from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $1.50 to $0.50 in a report on Friday, May 15th. Wall Street Zen cut Optimum Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, The Goldman Sachs Group set a $1.00 price objective on Optimum Communications in a report on Friday, May 8th. Six investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $0.95.

Insider Buying and Selling at Optimum Communications

In other news, General Counsel Michael Olsen sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $1.59, for a total transaction of $31,800.00. Following the transaction, the general counsel directly owned 1,199,781 shares in the company, valued at $1,907,651.79. The trade was a 1.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 60,000 shares of company stock worth $80,000. Insiders own 44.60% of the company’s stock.

Optimum Communications Trading Up 3.2%

OPTU stock opened at $1.12 on Friday. Optimum Communications, Inc. has a 12-month low of $0.58 and a 12-month high of $2.98. The stock has a market cap of $531.26 million, a price-to-earnings ratio of -0.11 and a beta of 1.36. The business’s 50-day moving average is $1.21 and its 200 day moving average is $1.51.

About Optimum Communications

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to approximately five million residential and business customers. The company’s video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.