Stevens Capital Management LP Grows Stock Holdings in Altice USA Inc (NYSE:ATUS)

Stevens Capital Management LP raised its position in shares of Altice USA Inc (NYSE:ATUS) by 6.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 105,583 shares of the company’s stock after buying an additional 6,828 shares during the quarter. Stevens Capital Management LP’s holdings in Altice USA were worth $2,571,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Northern Trust Corp increased its stake in Altice USA by 3.7% in the fourth quarter. Northern Trust Corp now owns 285,186 shares of the company’s stock valued at $4,711,000 after purchasing an additional 10,179 shares in the last quarter. Norges Bank bought a new stake in Altice USA in the fourth quarter valued at $33,885,000. DNB Asset Management AS bought a new stake in Altice USA in the first quarter valued at $523,000. Calamos Advisors LLC bought a new stake in Altice USA in the first quarter valued at $484,000. Finally, Nisa Investment Advisors LLC bought a new stake in Altice USA in the first quarter valued at $645,000. 50.13% of the stock is owned by institutional investors and hedge funds.

In other Altice USA news, Director Dennis Okhuijsen sold 551,724 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $24.67, for a total value of $13,611,031.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Olsen sold 30,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $27.03, for a total transaction of $810,900.00. The disclosure for this sale can be found here. Corporate insiders own 45.00% of the company’s stock.

Shares of ATUS stock traded up $0.15 during trading on Thursday, reaching $26.63. 33,226 shares of the company’s stock traded hands, compared to its average volume of 4,625,318. The company has a market capitalization of $17.15 billion, a P/E ratio of 332.50 and a beta of 0.99. The company has a debt-to-equity ratio of 9.18, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a 50-day moving average price of $25.72. Altice USA Inc has a 1 year low of $14.49 and a 1 year high of $27.74.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.05. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Altice USA had a net margin of 3.16% and a return on equity of 13.57%. Altice USA’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.13) EPS. Equities research analysts forecast that Altice USA Inc will post 0.56 EPS for the current year.

Several research firms have weighed in on ATUS. Macquarie began coverage on shares of Altice USA in a research note on Wednesday, June 19th. They issued a “buy” rating and a $30.00 price target for the company. TheStreet raised shares of Altice USA from a “d+” rating to a “c+” rating in a research note on Thursday, April 25th. Nomura boosted their target price on shares of Altice USA from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. TD Securities boosted their target price on shares of Altice USA from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Finally, Pivotal Research reissued a “buy” rating and set a $40.00 target price on shares of Altice USA in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $29.82.

Altice USA Company 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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Institutional Ownership by Quarter for Altice USA (NYSE:ATUS)

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