Oppenheimer & Co. Inc. trimmed its position in Altice USA Inc (NYSE:ATUS) by 61.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,500 shares of the company’s stock after selling 36,000 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Altice USA were worth $483,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc lifted its position in Altice USA by 154.7% during the third quarter. Vanguard Group Inc now owns 24,455,145 shares of the company’s stock worth $443,617,000 after buying an additional 14,855,173 shares in the last quarter. Vanguard Group Inc. lifted its position in Altice USA by 154.7% during the third quarter. Vanguard Group Inc. now owns 24,455,145 shares of the company’s stock worth $443,617,000 after buying an additional 14,855,173 shares in the last quarter. FMR LLC lifted its position in Altice USA by 104.2% during the fourth quarter. FMR LLC now owns 8,973,351 shares of the company’s stock worth $148,240,000 after buying an additional 4,579,254 shares in the last quarter. Deutsche Bank AG raised its position in Altice USA by 28.4% in the fourth quarter. Deutsche Bank AG now owns 7,755,835 shares of the company’s stock valued at $128,125,000 after purchasing an additional 1,714,753 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Altice USA by 4,670.6% in the third quarter. Bank of New York Mellon Corp now owns 4,007,010 shares of the company’s stock valued at $72,687,000 after purchasing an additional 3,923,016 shares during the period. Hedge funds and other institutional investors own 50.51% of the company’s stock.
ATUS has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Altice USA from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. TD Securities lifted their target price on Altice USA from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 22nd. ValuEngine upgraded Altice USA from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Barclays set a $27.00 price objective on Altice USA and gave the company a “buy” rating in a report on Friday, February 22nd. Finally, TheStreet upgraded Altice USA from a “d+” rating to a “c+” rating in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Altice USA has a consensus rating of “Buy” and an average target price of $24.80.
ATUS traded down $0.03 on Wednesday, hitting $24.14. 3,745,294 shares of the company were exchanged, compared to its average volume of 3,771,788. Altice USA Inc has a twelve month low of $14.49 and a twelve month high of $25.14. The stock has a market capitalization of $16.47 billion, a price-to-earnings ratio of 301.75 and a beta of 1.20. The company has a debt-to-equity ratio of 7.77, a current ratio of 0.39 and a quick ratio of 0.39.
Altice USA (NYSE:ATUS) last released its earnings results on Thursday, May 2nd. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.08). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.40 billion. Altice USA had a return on equity of 8.16% and a net margin of 1.27%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) earnings per share. On average, research analysts anticipate that Altice USA Inc will post 0.51 earnings per share for the current year.
In other news, major shareholder S.A.R.L. Suddenvision sold 20,645,478 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $21.35, for a total transaction of $440,780,955.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Colleen Schmidt sold 100,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $22.58, for a total value of $2,258,000.00. The disclosure for this sale can be found here. Corporate 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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