TimesSquare Capital Management LLC lowered its holdings in Altice USA Inc (NYSE:ATUS) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,211,700 shares of the company’s stock after selling 411,000 shares during the quarter. TimesSquare Capital Management LLC owned 0.48% of Altice USA worth $78,205,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of ATUS. First Trust Advisors LP boosted its position in Altice USA by 60.2% in the second quarter. First Trust Advisors LP now owns 1,438,312 shares of the company’s stock valued at $35,023,000 after buying an additional 540,256 shares in the last quarter. Deltec Asset Management LLC acquired a new position in Altice USA in the first quarter valued at about $10,867,000. Neuberger Berman Group LLC boosted its position in Altice USA by 425.2% in the first quarter. Neuberger Berman Group LLC now owns 4,926,363 shares of the company’s stock valued at $105,818,000 after buying an additional 3,988,331 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Altice USA in the first quarter valued at about $268,000. Finally, Marshall Wace LLP boosted its position in Altice USA by 36,432.8% in the first quarter. Marshall Wace LLP now owns 678,049 shares of the company’s stock valued at $14,564,000 after buying an additional 676,193 shares in the last quarter. 50.13% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Dennis Okhuijsen sold 551,724 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael Olsen sold 30,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $27.03, for a total transaction of $810,900.00. The disclosure for this sale can be found here. 45.00% of the stock is currently owned by corporate insiders.
A number of research firms have commented on ATUS. JPMorgan Chase & Co. boosted their price target on shares of Altice USA from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. KeyCorp boosted their price target on shares of Altice USA from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Macquarie began coverage on shares of Altice USA in a research report on Wednesday, June 19th. They issued a “buy” rating and a $30.00 price target on the stock. ValuEngine lowered shares of Altice USA from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, TheStreet upgraded shares of Altice USA from a “d+” rating to a “c+” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $29.82.
Shares of ATUS stock traded down $0.35 during trading hours on Friday, reaching $26.55. 489,849 shares of the company were exchanged, compared to its average volume of 4,774,013. Altice USA Inc has a fifty-two week low of $14.49 and a fifty-two week high of $27.74. The stock’s fifty day moving average is $25.78 and its two-hundred day moving average is $23.51. The company has a market cap of $17.29 billion, a price-to-earnings ratio of 331.63 and a beta of 0.99. The company has a debt-to-equity ratio of 9.18, a current ratio of 0.29 and a quick ratio of 0.29.
Altice USA (NYSE:ATUS) last announced its earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.05. Altice USA had a net margin of 3.16% and a return on equity of 13.57%. 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 business earned ($0.13) earnings per share. Altice USA’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts anticipate that Altice USA Inc will post 0.56 earnings per share for the current 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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