863,189 Shares in Optimum Communications, Inc. $OPTU Acquired by Shenkman Capital Management Inc.

Shenkman Capital Management Inc. acquired a new position in shares of Optimum Communications, Inc. (NYSE:OPTU) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 863,189 shares of the company’s stock, valued at approximately $1,444,000.

Several other large investors also recently added to or reduced their stakes in OPTU. Royal Bank of Canada boosted its position in shares of Optimum Communications by 365.8% during the 1st quarter. Royal Bank of Canada now owns 2,171,000 shares of the company’s stock valued at $5,775,000 after acquiring an additional 1,704,908 shares during the last quarter. AQR Capital Management LLC raised its stake in Optimum Communications by 4.7% during the first quarter. AQR Capital Management LLC now owns 806,675 shares of the company’s stock worth $2,146,000 after purchasing an additional 36,260 shares during the period. Millennium Management LLC boosted its holdings in Optimum Communications by 10.5% in the 1st quarter. Millennium Management LLC now owns 5,516,311 shares of the company’s stock valued at $14,673,000 after purchasing an additional 524,169 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Optimum Communications by 46.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,397,047 shares of the company’s stock valued at $17,016,000 after buying an additional 2,031,971 shares during the period. Finally, Caxton Associates LLP acquired a new stake in shares of Optimum Communications during the 1st quarter worth approximately $88,000. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel Michael Olsen sold 20,000 shares of Optimum Communications stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $1.59, for a total value of $31,800.00. Following the completion of the transaction, the general counsel owned 1,199,781 shares in the company, valued at $1,907,651.79. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 44.60% of the stock is currently owned by company insiders.

Key Optimum Communications News

Here are the key news stories impacting Optimum Communications this week:

• Positive Sentiment: Zacks Research slightly improved its outlook for Q4 2026, Q3 2027, and Q4 2027 EPS, suggesting some improvement in the company’s expected operating trend. Article link
• Neutral Sentiment: The firm maintained a Hold rating on Optimum Communications (NYSE: OPTU), indicating analysts are not yet recommending a stronger bullish stance. Article link
• Negative Sentiment: Analysts cut earnings estimates for several periods, including Q1 2027, Q2 2026, FY2027, Q1 2028, and FY2028, reinforcing expectations that the company may remain unprofitable for an extended period. Article link

Wall Street Analyst Weigh In

OPTU has been the subject of several analyst reports. Raymond James Financial lowered Optimum Communications from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 11th. UBS Group cut their price objective on Optimum Communications from $2.00 to $1.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Citigroup cut shares of Optimum Communications from a “neutral” rating to a “sell” rating and decreased their target price for the company from $1.50 to $0.50 in a research report on Friday, May 15th. Wall Street Zen cut shares of Optimum Communications from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings upgraded shares of Optimum Communications from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Five analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $0.95.

Optimum Communications Stock Up 3.0%

NYSE:OPTU opened at $0.68 on Monday. Optimum Communications, Inc. has a 52 week low of $0.58 and a 52 week high of $2.98. The company has a fifty day simple moving average of $1.22 and a two-hundred day simple moving average of $1.53. The company has a market cap of $322.95 million, a price-to-earnings ratio of -0.07 and a beta of 1.37.

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.