Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Altice USA, Inc. (NYSE:ATUS) by 182.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,800 shares of the company’s stock after purchasing an additional 3,100 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Altice USA were worth $182,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Freedman Financial Associates Inc. bought a new position in Altice USA during the fourth quarter worth $61,000. Cullen Frost Bankers Inc. lifted its stake in Altice USA by 900.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 2,000 shares of the company’s stock worth $76,000 after purchasing an additional 1,800 shares during the last quarter. Infini Master Fund bought a new position in Altice USA during the fourth quarter worth $76,000. Harvest Fund Management Co. Ltd bought a new position in Altice USA during the fourth quarter worth $107,000. Finally, First National Bank of Omaha bought a new position in Altice USA during the fourth quarter worth $222,000. Hedge funds and other institutional investors own 58.66% of the company’s stock.
Shares of ATUS opened at $32.71 on Thursday. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of 181.73 and a beta of 1.11. The company has a debt-to-equity ratio of 34.18, a quick ratio of 0.82 and a current ratio of 0.82. Altice USA, Inc. has a one year low of $21.97 and a one year high of $38.30. The stock’s fifty day moving average is $33.53 and its 200-day moving average is $32.70.
Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Tuesday, February 9th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.23. Altice USA had a return on equity of 25.67% and a net margin of 1.08%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.51 billion. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts forecast that Altice USA, Inc. will post 0.87 EPS for the current fiscal year.
In related news, EVP Michael Olsen sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $32.45, for a total transaction of $97,350.00. Following the completion of the transaction, the executive vice president now owns 69,038 shares of the company’s stock, valued at $2,240,283.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Grau sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, January 20th. The shares were sold at an average price of $36.15, for a total value of $1,446,000.00. Following the transaction, the chief financial officer now directly owns 203,852 shares of the company’s stock, valued at approximately $7,369,249.80. The disclosure for this sale can be found here. Insiders have sold 48,000 shares of company stock valued at $1,713,350 in the last ninety days. Company insiders own 46.40% of the company’s stock.
ATUS has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Altice USA from $33.00 to $39.00 in a research note on Thursday, February 11th. Credit Suisse Group increased their target price on Altice USA from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 19th. TD Securities dropped their target price on Altice USA from $41.00 to $40.00 and set a “hold” rating on the stock in a research report on Thursday, March 4th. Barclays lowered Altice USA from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $30.00 to $36.00 in a research report on Thursday, December 17th. Finally, Evercore ISI assumed coverage on Altice USA in a research report on Thursday, January 7th. They issued an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Altice USA has an average rating of “Buy” and an average target price of $38.29.
About Altice USA
Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to approximately 5 million residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.
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