Investors Purchase High Volume of Altice USA Call Options (NYSE:ATUS)

Altice USA Inc (NYSE:ATUS) saw unusually large options trading on Tuesday. Stock investors purchased 2,572 call options on the company. This represents an increase of approximately 1,247% compared to the typical volume of 191 call options.

ATUS has been the subject of a number of research analyst reports. Deutsche Bank restated a “buy” rating and set a $35.00 price objective on shares of Altice USA in a report on Monday, November 6th. Moffett Nathanson upgraded Altice USA from a “neutral” rating to a “buy” rating in a report on Friday, November 10th. Goldman Sachs Group upgraded Altice USA from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, November 7th. Pivotal Research reduced their price objective on Altice USA from $30.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, December 6th. Finally, Societe Generale assumed coverage on shares of Altice USA in a research report on Wednesday, December 13th. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Altice USA presently has a consensus rating of “Buy” and an average price target of $32.21.

Institutional investors and hedge funds have recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new position in Altice USA during the second quarter valued at approximately $12,436,000. Bank of New York Mellon Corp acquired a new position in Altice USA during the third quarter valued at approximately $1,346,000. Macquarie Group Ltd. acquired a new position in Altice USA during the second quarter valued at approximately $877,000. Goldman Sachs Group Inc. acquired a new position in Altice USA during the second quarter valued at approximately $14,162,000. Finally, FMR LLC acquired a new position in Altice USA during the second quarter valued at approximately $57,079,000. Institutional investors and hedge funds own 14.65% of the company’s stock.

Altice USA (ATUS) traded down $0.41 during midday trading on Thursday, hitting $18.38. 149,049 shares of the stock were exchanged, compared to its average volume of 2,225,604. The company has a debt-to-equity ratio of 6.82, a current ratio of 0.32 and a quick ratio of 0.32. Altice USA has a 52 week low of $17.80 and a 52 week high of $35.29.

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Altice USA Company Profile

Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.

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