Thornburg Investment Management Inc. decreased its position in shares of Altice USA Inc (NYSE:ATUS) by 93.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 286,126 shares of the company’s stock after selling 4,422,449 shares during the period. Thornburg Investment Management Inc.’s holdings in Altice USA were worth $5,190,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN grew its stake in shares of Altice USA by 19.6% during the first quarter. Wells Fargo & Company MN now owns 39,236 shares of the company’s stock valued at $725,000 after purchasing an additional 6,441 shares during the last quarter. Northern Trust Corp grew its stake in shares of Altice USA by 4.7% during the first quarter. Northern Trust Corp now owns 134,075 shares of the company’s stock valued at $2,478,000 after purchasing an additional 6,052 shares during the last quarter. California Public Employees Retirement System bought a new stake in shares of Altice USA during the first quarter valued at approximately $836,000. Millennium Management LLC bought a new stake in shares of Altice USA during the first quarter valued at approximately $2,510,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Altice USA during the second quarter valued at approximately $104,000. 37.18% of the stock is owned by institutional investors.
Several analysts have recently commented on the stock. Credit Suisse Group increased their price target on shares of Altice USA from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday. Zacks Investment Research raised shares of Altice USA from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Royal Bank of Canada decreased their price target on shares of Altice USA to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, August 9th. Citigroup decreased their price target on shares of Altice USA from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Finally, Barclays reissued a “buy” rating and set a $25.00 price target on shares of Altice USA in a research note on Sunday, August 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Altice USA has a consensus rating of “Buy” and a consensus target price of $24.67.
Shares of ATUS stock opened at $18.85 on Thursday. Altice USA Inc has a 52-week low of $14.49 and a 52-week high of $25.15. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 942.50 and a beta of 0.74. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 5.65.
Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Monday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. Altice USA had a net margin of 21.73% and a negative return on equity of 3.14%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm earned ($0.25) earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities analysts anticipate that Altice USA Inc will post -0.21 earnings per share for the current year.
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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