Sylebra HK Co Ltd Takes Position in Altice USA Inc (ATUS)
Sylebra HK Co Ltd acquired a new stake in shares of Altice USA Inc (NYSE:ATUS) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,629,725 shares of the company’s stock, valued at approximately $30,117,000. Altice USA accounts for about 2.5% of Sylebra HK Co Ltd’s investment portfolio, making the stock its 12th biggest holding.
A number of other institutional investors also recently modified their holdings of the business. Federated Investors Inc. PA increased its position in Altice USA by 3.3% during the 1st quarter. Federated Investors Inc. PA now owns 122,305 shares of the company’s stock valued at $2,260,000 after purchasing an additional 3,850 shares during the period. Harbor Advisors LLC increased its position in Altice USA by 20.0% during the 1st quarter. Harbor Advisors LLC now owns 30,000 shares of the company’s stock valued at $554,000 after purchasing an additional 5,000 shares during the period. Northern Trust Corp increased its position in Altice USA by 4.7% during the 1st quarter. Northern Trust Corp now owns 134,075 shares of the company’s stock valued at $2,478,000 after purchasing an additional 6,052 shares during the period. Wells Fargo & Company MN increased its position in Altice USA by 19.6% during the 1st quarter. Wells Fargo & Company MN now owns 39,236 shares of the company’s stock valued at $725,000 after purchasing an additional 6,441 shares during the period. Finally, Thornburg Investment Management Inc. increased its position in Altice USA by 0.4% during the 1st quarter. Thornburg Investment Management Inc. now owns 2,001,544 shares of the company’s stock valued at $36,989,000 after purchasing an additional 8,128 shares during the period. 17.24% of the stock is currently owned by institutional investors and hedge funds.
Altice USA stock traded up $0.23 during mid-day trading on Thursday, reaching $17.89. The stock had a trading volume of 95,301 shares, compared to its average volume of 2,925,908. The stock has a market cap of $13.19 billion and a price-to-earnings ratio of 890.50. Altice USA Inc has a one year low of $16.25 and a one year high of $35.29. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.70 and a quick ratio of 0.70.
The company also recently declared a dividend, which was paid on Wednesday, June 6th. Investors of record on Tuesday, May 22nd were paid a $2.035 dividend. The ex-dividend date was Thursday, June 7th.
ATUS has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price (up previously from $31.00) on shares of Altice USA in a report on Tuesday, March 6th. JPMorgan Chase & Co. dropped their target price on shares of Altice USA from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, March 6th. Zacks Investment Research upgraded shares of Altice USA from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. Pivotal Research restated a “buy” rating and set a $28.00 target price on shares of Altice USA in a report on Friday, March 9th. Finally, Goldman Sachs Group upgraded shares of Altice USA from a “buy” rating to a “conviction-buy” rating and dropped their target price for the company from $28.00 to $19.91 in a report on Tuesday, March 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Altice USA has an average rating of “Buy” and a consensus target price of $28.39.
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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