Public Employees Retirement System of Ohio Makes New $2.80 Million Investment in Altice USA Inc (NYSE:ATUS)

Public Employees Retirement System of Ohio acquired a new position in Altice USA Inc (NYSE:ATUS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 115,082 shares of the company’s stock, valued at approximately $2,802,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Altice USA in the second quarter worth about $41,000. Advisor Group Inc. lifted its holdings in shares of Altice USA by 26.6% during the second quarter. Advisor Group Inc. now owns 4,503 shares of the company’s stock valued at $111,000 after purchasing an additional 945 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Altice USA by 340.9% during the first quarter. Bank of Montreal Can now owns 7,261 shares of the company’s stock valued at $156,000 after purchasing an additional 5,614 shares during the last quarter. Oakbrook Investments LLC purchased a new position in shares of Altice USA during the second quarter valued at approximately $215,000. Finally, GAM Holding AG purchased a new position in shares of Altice USA during the first quarter valued at approximately $201,000. Institutional investors and hedge funds own 50.98% of the company’s stock.

Several equities research analysts recently weighed in on ATUS shares. Wells Fargo & Co started coverage on shares of Altice USA in a research report on Tuesday, August 27th. They set an “outperform” rating and a $35.00 price target for the company. ValuEngine downgraded shares of Altice USA from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Macquarie started coverage on shares of Altice USA in a research report on Wednesday, June 19th. They set a “buy” rating and a $30.00 price target for the company. KeyCorp raised 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. Finally, JPMorgan Chase & Co. raised 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. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Altice USA presently has a consensus rating of “Buy” and a consensus target price of $31.62.

In other news, insider Michael Olsen sold 30,000 shares of Altice USA stock in a transaction on Monday, August 12th. The shares were sold at an average price of $27.03, for a total transaction of $810,900.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alt S.A.R.L. Next sold 15,000,000 shares of Altice USA 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 transaction, the director now owns 47,369,305 shares in the company, valued at approximately $1,250,549,652. The disclosure for this sale can be found here. Insiders own 45.00% of the company’s stock.

NYSE:ATUS traded up $0.11 during trading hours on Monday, reaching $29.51. The company had a trading volume of 179,328 shares, compared to its average volume of 5,130,964. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 9.18. Altice USA Inc has a 52 week low of $14.49 and a 52 week high of $29.89. The firm has a market cap of $19.04 billion, a price-to-earnings ratio of 368.81 and a beta of 0.90. The firm’s 50 day moving average price is $27.54 and its 200-day moving average price is $24.49.

Altice USA (NYSE:ATUS) last posted its earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Altice USA had a net margin of 3.16% and a return on equity of 13.57%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the firm posted ($0.13) EPS. The firm’s revenue was up 3.7% on a year-over-year basis. On average, analysts forecast that Altice USA Inc will post 0.56 earnings per share for the current fiscal 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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Institutional Ownership by Quarter for Altice USA (NYSE:ATUS)

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