Cablevision (NYSE:CVC) Share Price May Be About to Change Direction; JP Morgan Upgrades The Company.

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Cablevision (NYSE:CVC) Stock Upgrade

In analysts note sent to investors and clients today, JP Morgan lifted shares of Cablevision (NYSE:CVC) to a solid “Overweight” rating from their previous “Neutral” rating.

From a total of 18 analysts covering Cablevision Systems Corporation (NYSE:CVC) stock, 2 rate it a ”Buy”, 0 a “Sell”, and 18 a ”Hold”. This means that 10% of the ratings are positive. The highest target price is $35 while the lowest target price is $23. The mean of all analyst targets is $33.34 with a -0.76% below today’s ($30.19) stock price. Cablevision Systems Corporation was the topic of 14 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. SunTrust initiated shares on November 11 with “Neutral” rating. Credit Suisse upgraded shares to “Neutral” rating and $34.90 target share price in a report from a September 21. Morgan Stanley upgraded CVC stock in a recent report from October 19 to “Equal-Weight” rating. Deutsche Bank maintained the rating on August 20. Deutsche Bank has a “Hold” rating and a $21 price target on shares. Finally, Raymond James downgraded the stock to “Underperform” rating in a report issued on a September 21.

Approximately 4.04M shares of stock traded hands or 26.25% up from the average. Cablevision Systems Corporation (NYSE:CVC) has risen 45.30% since May 8, 2015 and is uptrending. It has outperformed by 48.32% the S&P500.

The overall sentiment of institutions has increased to 0.84 in Q2 2015. Its up 0.24, from 0.6 in 2015Q2. The ratio increased, as 68 institutions have sold all the shares of Cablevision Systems Corporation that they owned while 130 funds have taken shares off the table. 70 funds have purchased shares for the first time while 97 added to their positions. These institutions now hold 198.86 million shares or 11.05% less than the 223.56 million shares they owned in 2015Q2.

The Fund Jericho Capital Asset Management L.P. currently is holding shares equating to 19.17% of its total portfolio in Cablevision Systems Corporation representing a total of 9.48 million shares. Another fund,Cheyne Capital Management (Uk) Llp, is holding a total of 746,549 shares equating to 11.36% of their holdings. Additionally, Tig Advisors Llc has a 2.94 million share stake in Cablevision Systems Corporation which represents 4.36% of their total portfolio. The Fund, Gruss & Co Inc, based out of Florida, has also built up a stake in the stock, which represents a total of 3.06% of their total portfolio. Finally Discovery Capital Management Llc Ct, a fund which is based in the state of Connecticut reported a total holdings of 6.74 million shares.

Cablevision Systems Corporation through its subsidiary CSC Holdings, LLC (CSC Holdings, and collectively with Cablevision) and their subsidiaries operates cable activities business in the United States. The company has a market cap of $8.32 billion.

According to Zacks Investment Research, “Cablevision Systems Corp. is one of the nation’s leading entertainment and telecommunications companies. Its cable television operations serve households located primarily in the New York metropolitan area. The company’s advanced telecommunications offerings include its Lightpath integrated business communications services and its Optimum-branded high-speed Internet service. (Company Press Release)” Get a free copy of the Zacks research report on Cablevision Systems Corporation (CVC).

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