Oppenheimer & Co. Inc. raised its stake in Altice USA Inc (NYSE:ATUS) by 32.4% during the third quarter, Holdings Channel reports. The fund owned 58,500 shares of the company’s stock after buying an additional 14,300 shares during the period. Oppenheimer & Co. Inc.’s holdings in Altice USA were worth $1,061,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ATUS. Wells Fargo & Company MN lifted its holdings in shares of Altice USA by 19.6% during the first quarter. Wells Fargo & Company MN now owns 39,236 shares of the company’s stock valued at $725,000 after purchasing an additional 6,441 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Altice USA by 4.7% during the first quarter. Northern Trust Corp now owns 134,075 shares of the company’s stock valued at $2,478,000 after purchasing an additional 6,052 shares in the last quarter. California Public Employees Retirement System bought a new position in shares of Altice USA during the first quarter valued at $836,000. Millennium Management LLC bought a new position in shares of Altice USA during the first quarter valued at $2,510,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Altice USA during the second quarter valued at $104,000. 37.18% of the stock is currently owned by hedge funds and other institutional investors.
NYSE ATUS opened at $16.37 on Monday. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.32 and a current ratio of 0.32. Altice USA Inc has a 52 week low of $14.49 and a 52 week high of $25.15. The stock has a market capitalization of $12.07 billion, a PE ratio of 818.50 and a beta of 0.74.
Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, August 2nd. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.08). Altice USA had a negative return on equity of 5.44% and a net margin of 19.65%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period last year, the business earned ($0.73) EPS. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities analysts predict that Altice USA Inc will post -0.21 EPS for the current fiscal year.
In other news, VP David Connolly sold 129,000 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $18.31, for a total value of $2,361,990.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Victoria Mink sold 37,502 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $18.99, for a total value of $712,162.98. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
A number of research firms have weighed in on ATUS. Guggenheim raised Altice USA from a “neutral” rating to a “buy” rating in a report on Monday, July 9th. They noted that the move was a valuation call. Credit Suisse Group began coverage on Altice USA in a report on Tuesday, July 10th. They issued an “outperform” rating and a $21.00 target price on the stock. Barclays reissued a “buy” rating and issued a $25.00 target price on shares of Altice USA in a report on Sunday, August 5th. Royal Bank of Canada lowered their target price on Altice USA to $25.00 and set an “outperform” rating on the stock in a report on Thursday, August 9th. Finally, TD Securities lowered their target price on Altice USA from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, August 14th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $25.16.
Altice USA Profile
Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.
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