Commerzbank Aktiengesellschaft FI cut its stake in Altice USA Inc (NYSE:ATUS) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,154 shares of the company’s stock after selling 1,476 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Altice USA were worth $2,213,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Altice USA by 1.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 39,103 shares of the company’s stock valued at $952,000 after buying an additional 400 shares during the period. Advisor Group Inc. lifted its stake in Altice USA by 26.6% in the second quarter. Advisor Group Inc. now owns 4,503 shares of the company’s stock valued at $111,000 after buying an additional 945 shares during the period. Verde Servicos Internacionais S.A. lifted its stake in Altice USA by 0.8% in the third quarter. Verde Servicos Internacionais S.A. now owns 154,672 shares of the company’s stock valued at $4,435,000 after buying an additional 1,238 shares during the period. Cerebellum GP LLC lifted its stake in Altice USA by 9.8% in the third quarter. Cerebellum GP LLC now owns 15,412 shares of the company’s stock valued at $442,000 after buying an additional 1,374 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Altice USA by 33.3% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,000 shares of the company’s stock valued at $146,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 50.98% of the company’s stock.
In related news, Director Alt S.A.R.L. Next sold 15,000,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $26.40, for a total transaction of $396,000,000.00. Following the completion of the sale, the director now owns 47,369,305 shares in the company, valued at $1,250,549,652. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Olsen sold 30,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $27.03, for a total value of $810,900.00. The disclosure for this sale can be found here. 45.00% of the stock is owned by corporate insiders.
Several equities analysts have issued reports on the company. Nomura boosted their price target on Altice USA from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. TD Securities lowered Altice USA from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a research note on Thursday, September 19th. Pivotal Research reissued a “buy” rating and issued a $40.00 price target on shares of Altice USA in a research note on Friday, October 11th. KeyCorp boosted their price target on Altice USA from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Citigroup boosted their price target on Altice USA from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Altice USA has a consensus rating of “Buy” and a consensus target price of $33.20.
Shares of NYSE:ATUS opened at $29.34 on Monday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 9.18. Altice USA Inc has a twelve month low of $14.49 and a twelve month high of $30.34. The stock’s 50 day moving average is $28.97 and its 200-day moving average is $25.79. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 366.75 and a beta of 0.90.
Altice USA (NYSE:ATUS) last issued its earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Altice USA had a return on equity of 13.57% and a net margin of 3.16%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period in the prior year, the firm earned ($0.13) earnings per share. Altice USA’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Altice USA Inc will post 0.56 earnings per share for the current fiscal year.
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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