Shares of Altice USA, Inc. (NYSE:ATUS) have received an average rating of “Buy” from the twenty-two analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $38.47.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Altice USA from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Monday, May 3rd. Wells Fargo & Company assumed coverage on Altice USA in a research report on Monday, March 22nd. They issued an “equal weight” rating and a $33.00 price target on the stock. TD Securities reduced their price target on Altice USA from $41.00 to $40.00 and set a “hold” rating on the stock in a research report on Thursday, March 4th. Citigroup lowered Altice USA from a “buy” rating to a “neutral” rating and reduced their price target for the company from $41.00 to $35.00 in a research report on Friday, April 9th. Finally, Morgan Stanley increased their price objective on Altice USA from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Friday, April 30th.
Shares of Altice USA stock opened at $35.40 on Friday. Altice USA has a 52 week low of $21.97 and a 52 week high of $38.30. The company has a fifty day simple moving average of $35.25. The firm has a market cap of $16.28 billion, a price-to-earnings ratio of 26.03 and a beta of 1.11. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 34.18.
In other Altice USA news, Director Alt S.A.R.L. Next sold 2,350,000 shares of the stock in a transaction that occurred on Tuesday, May 25th. The stock was sold at an average price of $37.21, for a total transaction of $87,443,500.00. Following the completion of the sale, the director now directly owns 34,719,305 shares of the company’s stock, valued at approximately $1,291,905,339.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Olsen sold 28,000 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $36.35, for a total value of $1,017,800.00. Following the completion of the sale, the executive vice president now directly owns 44,038 shares of the company’s stock, valued at $1,600,781.30. The disclosure for this sale can be found here. Insiders have sold a total of 2,577,734 shares of company stock valued at $95,732,270 over the last ninety days. 53.10% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Pelham Capital Ltd. lifted its holdings in shares of Altice USA by 11.8% in the 1st quarter. Pelham Capital Ltd. now owns 8,069,842 shares of the company’s stock valued at $262,512,000 after buying an additional 853,487 shares during the period. Egerton Capital UK LLP acquired a new position in Altice USA during the fourth quarter worth $274,623,000. Zimmer Partners LP raised its holdings in Altice USA by 1.3% during the first quarter. Zimmer Partners LP now owns 7,146,237 shares of the company’s stock worth $232,467,000 after purchasing an additional 94,000 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Altice USA by 186.3% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,834,706 shares of the company’s stock worth $258,830,000 after purchasing an additional 4,447,177 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in Altice USA by 76.9% during the first quarter. UBS Asset Management Americas Inc. now owns 6,726,080 shares of the company’s stock worth $218,799,000 after purchasing an additional 2,923,303 shares during the last quarter. 57.05% of the stock is owned by institutional investors and hedge funds.
Altice USA Company Profile
Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to approximately 5 million residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.
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