Miura Global Management LLC boosted its holdings in shares of Altice USA Inc (NYSE:ATUS) by 200.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,100,000 shares of the company’s stock after buying an additional 1,400,000 shares during the period. Altice USA comprises about 7.7% of Miura Global Management LLC’s portfolio, making the stock its 4th biggest holding. Miura Global Management LLC’s holdings in Altice USA were worth $45,108,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc increased its position in shares of Altice USA by 154.7% during the 3rd quarter. Vanguard Group Inc now owns 24,455,145 shares of the company’s stock valued at $443,617,000 after purchasing an additional 14,855,173 shares during the last quarter. FMR LLC increased its position in shares of Altice USA by 104.2% during the 4th quarter. FMR LLC now owns 8,973,351 shares of the company’s stock valued at $148,240,000 after purchasing an additional 4,579,254 shares during the last quarter. Deutsche Bank AG increased its position in shares of Altice USA by 28.4% during the 4th 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 last quarter. BlackRock Inc. increased its position in shares of Altice USA by 32.0% during the 1st quarter. BlackRock Inc. now owns 7,677,638 shares of the company’s stock valued at $164,916,000 after purchasing an additional 1,862,856 shares during the last quarter. Finally, Reaves W H & Co. Inc. increased its position in shares of Altice USA by 4.5% during the 1st quarter. Reaves W H & Co. Inc. now owns 6,204,381 shares of the company’s stock valued at $133,270,000 after purchasing an additional 266,597 shares during the last quarter. 50.51% of the stock is currently owned by institutional investors.
In related news, EVP Colleen Schmidt sold 100,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $22.58, for a total transaction of $2,258,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis Okhuijsen sold 551,724 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. 45.00% of the stock is owned by insiders.
ATUS has been the topic of several analyst reports. Barclays set a $27.00 target price on Altice USA and gave the company a “buy” rating in a research report on Friday, February 22nd. TD Securities boosted 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. Zacks Investment Research raised Altice USA from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Thursday, April 4th. Pivotal Research boosted their target price on Altice USA from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday. Finally, TheStreet upgraded Altice USA from a “d+” rating to a “c+” rating in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.90.
ATUS traded up $0.07 during trading hours on Friday, reaching $23.73. 87,390 shares of the company’s stock traded hands, compared to its average volume of 5,074,292. Altice USA Inc has a 52-week low of $14.49 and a 52-week high of $25.15. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 7.77. The stock has a market cap of $15.82 billion, a P/E ratio of 296.25 and a beta of 1.03.
Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.08). Altice USA had a net margin of 1.27% and a return on equity of 8.16%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the firm earned ($0.17) EPS. Altice USA’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Altice USA Inc will post 0.6 EPS for the current fiscal year.
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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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