CNH Partners LLC lifted its stake in shares of Altice USA Inc (NYSE:ATUS) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 921,515 shares of the company’s stock after acquiring an additional 11,217 shares during the quarter. CNH Partners LLC’s holdings in Altice USA were worth $19,794,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of ATUS. 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. Bank of Montreal Can increased its position in shares of Altice USA by 123.5% during the 4th quarter. Bank of Montreal Can now owns 1,647 shares of the company’s stock valued at $27,000 after purchasing an additional 910 shares during the last quarter. Stevens Capital Management LP increased its position in shares of Altice USA by 9.1% during the 4th quarter. Stevens Capital Management LP now owns 35,800 shares of the company’s stock valued at $591,000 after purchasing an additional 2,988 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Altice USA during the 4th quarter valued at $192,000. Finally, Athena Capital Advisors LLC purchased a new stake in Altice USA in the 4th quarter worth about $38,000. 50.51% of the stock is currently owned by institutional investors and hedge funds.
In other Altice USA news, Director Dennis Okhuijsen sold 551,724 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $24.67, for a total value of $13,611,031.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Colleen Schmidt sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $22.58, for a total value of $2,258,000.00. The disclosure for this sale can be found here. 45.00% of the stock is owned by company insiders.
ATUS traded up $0.14 during trading hours on Friday, hitting $23.80. The stock had a trading volume of 4,264,821 shares, compared to its average volume of 5,148,434. Altice USA Inc has a 1 year low of $14.49 and a 1 year high of $25.15. The firm has a market cap of $16.07 billion, a P/E ratio of 297.50 and a beta of 1.03. The company has a debt-to-equity ratio of 7.77, a quick ratio of 0.39 and a current ratio of 0.39.
Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). Altice USA had a return on equity of 8.16% and a net margin of 1.27%. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the business posted ($0.17) EPS. The company’s revenue was up 2.9% compared to the same quarter last year. As a group, research analysts predict that Altice USA Inc will post 0.6 earnings per share for the current fiscal year.
ATUS has been the subject of several recent research reports. Zacks Investment Research lowered Altice USA from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. TD Securities lifted their price objective on Altice USA from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 22nd. Barclays set a $27.00 price objective on Altice USA and gave the stock a “buy” rating in a report on Friday, February 22nd. TheStreet raised Altice USA from a “d+” rating to a “c+” rating in a report on Thursday, April 25th. Finally, Pivotal Research reissued a “buy” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Altice USA in a report on Friday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $25.90.
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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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