Altice USA Target of Unusually High Options Trading (ATUS)

Altice USA Inc (NYSE:ATUS) was the target of some unusual options trading on Monday. Investors acquired 11,833 put options on the stock. This is an increase of 1,080% compared to the typical volume of 1,003 put options.

A number of research firms have recently commented on ATUS. Pivotal Research reaffirmed a “buy” rating and issued a $28.00 price target on shares of Altice USA in a report on Friday, March 9th. Cowen began coverage on Altice USA in a report on Monday, March 26th. They issued a “buy” rating and a $25.00 price target for the company. Barclays raised Altice USA from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $22.00 to $26.00 in a report on Tuesday, January 23rd. Societe Generale began coverage on Altice USA in a report on Wednesday, December 13th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target (up from $31.00) on shares of Altice USA in a report on Tuesday, March 6th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $29.50.

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Shares of ATUS stock traded up $0.13 on Thursday, reaching $19.16. The company’s stock had a trading volume of 1,766,298 shares, compared to its average volume of 2,016,623. The company has a debt-to-equity ratio of 3.88, a quick ratio of 0.34 and a current ratio of 0.34. Altice USA has a 12-month low of $17.58 and a 12-month high of $35.29. The company has a market capitalization of $13,761.06 and a PE ratio of 958.00.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. sell-side analysts forecast that Altice USA will post -0.18 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Stifel Financial Corp purchased a new stake in shares of Altice USA in the third quarter worth $224,000. MANA Advisors LLC purchased a new stake in Altice USA during the fourth quarter valued at about $235,000. Virtu Financial LLC purchased a new stake in Altice USA during the fourth quarter valued at about $272,000. Ellington Management Group LLC purchased a new stake in Altice USA during the fourth quarter valued at about $291,000. Finally, Guggenheim Capital LLC purchased a new stake in Altice USA during the fourth quarter valued at about $334,000. Institutional investors own 16.07% of the company’s stock.

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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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