Luminus Management LLC Takes Position in Altice USA Inc (ATUS)
Luminus Management LLC bought a new stake in shares of Altice USA Inc (NYSE:ATUS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 185,000 shares of the company’s stock, valued at approximately $3,928,000.
A number of other institutional investors have also recently bought and sold shares of the business. Lucerne Capital Management LP acquired a new position in Altice USA during the 4th quarter valued at about $129,721,000. BlackRock Inc. boosted its stake in Altice USA by 161.5% during the 4th quarter. BlackRock Inc. now owns 3,227,522 shares of the company’s stock valued at $68,520,000 after purchasing an additional 1,993,479 shares during the period. Pelham Capital Ltd. boosted its stake in Altice USA by 54.9% during the 4th quarter. Pelham Capital Ltd. now owns 2,555,474 shares of the company’s stock valued at $54,253,000 after purchasing an additional 905,474 shares during the period. Thornburg Investment Management Inc. boosted its stake in Altice USA by 15.5% during the 3rd quarter. Thornburg Investment Management Inc. now owns 2,469,626 shares of the company’s stock valued at $67,445,000 after purchasing an additional 332,260 shares during the period. Finally, Lakewood Capital Management LP acquired a new position in Altice USA during the 4th quarter valued at about $34,913,000. 16.08% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on ATUS. Goldman Sachs Group raised shares of Altice USA from a “buy” rating to a “conviction-buy” rating and reduced their target price for the company from $28.00 to $19.91 in a research note on Tuesday. Zacks Investment Research raised shares of Altice USA from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Pivotal Research reaffirmed a “buy” rating and issued a $28.00 price target on shares of Altice USA in a research note on Tuesday, January 9th. JPMorgan Chase & Co. reduced their price target on shares of Altice USA from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, March 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target (up from $31.00) on shares of Altice USA in a research note on Tuesday, March 6th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $30.92.
Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. sell-side analysts expect that Altice USA Inc will post 0.13 EPS for the current fiscal year.
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Altice USA Profile
Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.
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