Citigroup Inc. lifted its stake in shares of Altice USA, Inc. (NYSE:ATUS) by 4.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 223,556 shares of the company’s stock after purchasing an additional 10,480 shares during the quarter. Citigroup Inc.’s holdings in Altice USA were worth $7,632,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ossiam acquired a new stake in Altice USA in the first quarter valued at about $56,000. Deseret Mutual Benefit Administrators bought a new position in Altice USA in the second quarter valued at about $86,000. Verdence Capital Advisors LLC bought a new position in Altice USA in the first quarter valued at about $202,000. Alberta Investment Management Corp bought a new position in Altice USA in the first quarter valued at about $218,000. Finally, Twinbeech Capital LP bought a new position in shares of Altice USA during the first quarter worth about $221,000. 54.85% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on ATUS shares. Loop Capital started coverage on Altice USA in a research report on Monday. They set a “hold” rating and a $28.00 price objective for the company. Raymond James downgraded Altice USA from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $40.00 to $38.00 in a research report on Thursday, July 29th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $62.00 target price on shares of Altice USA in a research note on Sunday, June 27th. Morgan Stanley decreased their target price on Altice USA from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Thursday, July 29th. Finally, Zacks Investment Research cut Altice USA from a “buy” rating to a “hold” rating and set a $38.00 target price for the company. in a research note on Tuesday, June 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.53.
Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Tuesday, July 27th. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.52 billion. Altice USA had a negative return on equity of 129.77% and a net margin of 8.00%. On average, research analysts anticipate that Altice USA, Inc. will post 1.98 EPS for the current fiscal year.
In other Altice USA news, EVP Michael Olsen sold 3,000 shares of the business’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $30.97, for a total value of $92,910.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 9,000 shares of company stock worth $278,310 over the last quarter. 53.10% of the stock is currently owned by corporate insiders.
About Altice USA
Altice USA, Inc engages in the provision of broadband, pay television, telephony services, proprietary content, and advertising services. Its brands include Optimum, Suddenlink, Lightpath, AMS, News 12 Networks, and News 12 Varsity. The firm operates through the Cablevision and Cequel business operations.
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