Neuberger Berman Group LLC boosted its stake in shares of Altice USA Inc (NYSE:ATUS) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,034,165 shares of the company’s stock after buying an additional 584,670 shares during the quarter. Neuberger Berman Group LLC owned approximately 1.22% of Altice USA worth $158,547,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Altice USA in the first quarter valued at $2,255,000. Aperio Group LLC increased its stake in shares of Altice USA by 325.5% in the first quarter. Aperio Group LLC now owns 50,178 shares of the company’s stock worth $1,118,000 after purchasing an additional 38,384 shares in the last quarter. Arizona State Retirement System bought a new stake in shares of Altice USA in the first quarter valued at approximately $693,000. Rhumbline Advisers lifted its stake in shares of Altice USA by 0.8% during the 1st quarter. Rhumbline Advisers now owns 304,328 shares of the company’s stock valued at $6,783,000 after buying an additional 2,506 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Altice USA by 493.5% in the 1st quarter. Russell Investments Group Ltd. now owns 302,109 shares of the company’s stock worth $6,761,000 after buying an additional 251,206 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.
Shares of ATUS traded up $0.56 during trading hours on Wednesday, hitting $27.59. The company had a trading volume of 312,727 shares, compared to its average volume of 5,288,821. Altice USA Inc has a 52-week low of $15.95 and a 52-week high of $31.78. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 21.24. The stock’s 50 day moving average price is $26.89 and its 200 day moving average price is $24.73. The firm has a market cap of $15.29 billion, a P/E ratio of 89.68 and a beta of 0.96.
Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.05. Altice USA had a return on equity of 14.30% and a net margin of 1.91%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.42 billion. On average, research analysts expect that Altice USA Inc will post 0.68 EPS for the current fiscal year.
In other Altice USA news, EVP Colleen Schmidt sold 80,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $27.59, for a total transaction of $2,207,200.00. Following the transaction, the executive vice president now directly owns 254,301 shares of the company’s stock, valued at approximately $7,016,164.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Olsen sold 20,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $27.00, for a total transaction of $540,000.00. Following the transaction, the executive vice president now directly owns 99,938 shares in the company, valued at $2,698,326. The disclosure for this sale can be found here. Insiders sold 5,510,796 shares of company stock worth $150,695,422 in the last 90 days. Corporate insiders own 46.40% of the company’s stock.
Several brokerages have recently weighed in on ATUS. Pivotal Research lifted their price target on Altice USA from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday. TheStreet upgraded shares of Altice USA from a “d-” rating to a “c” rating in a research report on Monday, June 22nd. HSBC raised shares of Altice USA from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, July 15th. Zacks Investment Research cut shares of Altice USA from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a research note on Monday, August 3rd. Finally, Deutsche Bank raised their price target on shares of Altice USA from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Altice USA has an average rating of “Buy” and an average target price of $32.00.
About Altice USA
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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