Sciencast Management LP acquired a new stake in Altice USA Inc (NYSE:ATUS) during the fourth quarter, Holdings Channel.com reports. The firm acquired 88,182 shares of the company’s stock, valued at approximately $2,563,000. Altice USA comprises approximately 0.7% of Sciencast Management LP’s portfolio, making the stock its 26th biggest holding.
Several other hedge funds also recently modified their holdings of ATUS. Voya Investment Management LLC boosted its stake in Altice USA by 1,549.7% in the 3rd quarter. Voya Investment Management LLC now owns 8,889,332 shares of the company’s stock valued at $254,947,000 after buying an additional 8,350,490 shares in the last quarter. BlackRock Inc. boosted its position in Altice USA by 62.0% during the second quarter. BlackRock Inc. now owns 12,439,401 shares of the company’s stock valued at $302,901,000 after purchasing an additional 4,761,763 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Altice USA during the second quarter valued at approximately $47,290,000. D. E. Shaw & Co. Inc. boosted its position in Altice USA by 140.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,953,624 shares of the company’s stock valued at $71,921,000 after purchasing an additional 1,726,014 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Altice USA by 10.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 15,931,432 shares of the company’s stock valued at $456,914,000 after purchasing an additional 1,524,836 shares during the last quarter. 56.32% of the stock is currently owned by institutional investors and hedge funds.
ATUS has been the subject of several recent research reports. ValuEngine cut Altice USA from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Pivotal Research reissued a “buy” rating and set a $40.00 price target on shares of Altice USA in a research report on Friday, October 11th. Benchmark increased their price target on Altice USA from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. HSBC cut Altice USA from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a research report on Thursday, November 14th. Finally, Sanford C. Bernstein initiated coverage on Altice USA in a research report on Tuesday, October 15th. They set an “outperform” rating and a $38.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Altice USA has an average rating of “Buy” and a consensus target price of $31.76.
ATUS opened at $28.92 on Thursday. Altice USA Inc has a 12-month low of $17.47 and a 12-month high of $31.78. The stock has a market cap of $18.23 billion, a price-to-earnings ratio of 361.50 and a beta of 0.82. The business has a 50 day moving average of $26.93 and a 200-day moving average of $27.44. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 11.57.
Altice USA (NYSE:ATUS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.12. Altice USA had a return on equity of 17.04% and a net margin of 3.61%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.48 billion. During the same period last year, the firm posted $0.04 earnings per share. The business’s revenue was up .9% on a year-over-year basis. As a group, analysts expect that Altice USA Inc will post 0.61 earnings per share for the current year.
In other news, Director Gerrit Jan Bakker sold 12,802 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $27.00, for a total value of $345,654.00. Following the completion of the sale, the director now directly owns 29,951 shares of the company’s stock, valued at $808,677. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 45.00% of the company’s stock.
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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