Stevens Capital Management LP Raises Stake in Altice USA Inc (NYSE:ATUS)
Stevens Capital Management LP boosted its holdings in shares of Altice USA Inc (NYSE:ATUS) by 6.9% in the second quarter, HoldingsChannel reports. The fund owned 105,583 shares of the company’s stock after acquiring an additional 6,828 shares during the period. Stevens Capital Management LP’s holdings in Altice USA were worth $2,571,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Altice USA during the second quarter valued at approximately $41,000. LS Investment Advisors LLC bought a new stake in Altice USA in the first quarter worth $82,000. Quantamental Technologies LLC bought a new stake in Altice USA in the first quarter worth $96,000. Advisor Group Inc. increased its position in 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 acquiring an additional 945 shares during the last quarter. Finally, Bank of Montreal Can increased its position in 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 acquiring an additional 5,614 shares during the last quarter. 50.13% of the stock is owned by institutional investors.
ATUS has been the subject of a number of research reports. ValuEngine lowered shares of Altice USA from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Macquarie initiated coverage on shares of Altice USA in a report on Wednesday, June 19th. They issued a “buy” rating and a $30.00 price target on the stock. KeyCorp increased their target price on Altice USA from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Altice USA from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Nomura raised their price objective on Altice USA from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Altice USA has an average rating of “Buy” and an average price target of $29.82.
NYSE ATUS traded up $0.15 during trading on Thursday, hitting $26.63. The stock had a trading volume of 33,226 shares, compared to its average volume of 4,625,318. Altice USA Inc has a twelve month low of $14.49 and a twelve month high of $27.74. The company has a market capitalization of $17.15 billion, a P/E ratio of 332.50 and a beta of 0.99. The company has a debt-to-equity ratio of 9.18, a current ratio of 0.29 and a quick ratio of 0.29. The business’s 50 day moving average is $25.72.
Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.05. Altice USA had a return on equity of 13.57% and a net margin of 3.16%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the company posted ($0.13) earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Altice USA Inc will post 0.56 EPS for the current year.
Altice USA Company 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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