Envestnet Asset Management Inc. Grows Stock Holdings in Altice USA, Inc. (NYSE:ATUS)

Envestnet Asset Management Inc. lifted its position in Altice USA, Inc. (NYSE:ATUS) by 40.6% during the first quarter, Holdings Channel reports. The institutional investor owned 29,794 shares of the company’s stock after buying an additional 8,600 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Altice USA were worth $969,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. SPX Equities Gestao de Recursos Ltda lifted its position in Altice USA by 89.3% during the first quarter. SPX Equities Gestao de Recursos Ltda now owns 605,711 shares of the company’s stock valued at $19,704,000 after acquiring an additional 285,711 shares during the last quarter. Alamar Capital Management LLC boosted its position in shares of Altice USA by 68.7% in the 1st quarter. Alamar Capital Management LLC now owns 86,370 shares of the company’s stock worth $2,810,000 after purchasing an additional 35,160 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Altice USA by 112.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 43,247 shares of the company’s stock worth $1,407,000 after purchasing an additional 22,900 shares in the last quarter. PGGM Investments grew its stake in Altice USA by 321.4% during the 1st quarter. PGGM Investments now owns 120,023 shares of the company’s stock worth $3,904,000 after buying an additional 91,541 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in Altice USA by 3.0% during the 1st quarter. Handelsbanken Fonder AB now owns 75,210 shares of the company’s stock valued at $2,447,000 after buying an additional 2,200 shares in the last quarter. 57.05% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Alt S.A.R.L. Next sold 2,350,000 shares of the business’s 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 transaction, the director now directly owns 34,719,305 shares in the company, valued at approximately $1,291,905,339.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michael Olsen sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 1st. The shares were sold at an average price of $36.19, for a total value of $108,570.00. Following the completion of the transaction, the executive vice president now owns 38,038 shares in the company, valued at $1,376,595.22. The disclosure for this sale can be found here. Insiders have sold a total of 2,577,734 shares of company stock worth $95,732,270 over the last 90 days. Insiders own 53.10% of the company’s stock.

Shares of NYSE ATUS opened at $35.40 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 34.18. The firm has a market cap of $16.28 billion, a PE ratio of 26.03 and a beta of 1.11. The stock’s 50 day moving average price is $35.25. Altice USA, Inc. has a 12 month low of $21.97 and a 12 month high of $38.30.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Tuesday, April 27th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.27. Altice USA had a net margin of 7.17% and a negative return on equity of 528.76%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.49 billion. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts forecast that Altice USA, Inc. will post 2.08 EPS for the current year.

A number of brokerages have recently weighed in on ATUS. TD Securities dropped their price target on Altice USA from $41.00 to $40.00 and set a “hold” rating on the stock in a research note on Thursday, March 4th. Zacks Investment Research raised shares of Altice USA from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research report on Monday, May 3rd. Citigroup cut shares of Altice USA from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $41.00 to $35.00 in a report on Friday, April 9th. Royal Bank of Canada boosted their price objective on shares of Altice USA from $33.00 to $39.00 in a report on Thursday, February 11th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a “neutral” rating and issued a $35.00 target price (down from $41.00) on shares of Altice USA in a research report on Thursday, April 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Altice USA presently has a consensus rating of “Buy” and a consensus target price of $38.47.

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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Institutional Ownership by Quarter for Altice USA (NYSE:ATUS)

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