Hound Partners LLC lessened its position in Altice USA, Inc. (NYSE:ATUS) by 13.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,471,101 shares of the company’s stock after selling 220,272 shares during the period. Altice USA comprises approximately 2.3% of Hound Partners LLC’s holdings, making the stock its 14th biggest holding. Hound Partners LLC owned about 0.32% of Altice USA worth $47,855,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of ATUS. Capital Fund Management S.A. bought a new position in shares of Altice USA in the first quarter valued at about $10,661,000. Bank of Montreal Can raised its holdings in shares of Altice USA by 745.9% in the first quarter. Bank of Montreal Can now owns 541,670 shares of the company’s stock valued at $18,005,000 after buying an additional 477,636 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Altice USA in the first quarter valued at about $347,000. Harbour Capital Advisors LLC raised its holdings in shares of Altice USA by 33.1% in the first quarter. Harbour Capital Advisors LLC now owns 46,230 shares of the company’s stock valued at $1,504,000 after buying an additional 11,495 shares during the last quarter. Finally, Credit Suisse AG raised its holdings in shares of Altice USA by 95.7% in the first quarter. Credit Suisse AG now owns 285,939 shares of the company’s stock valued at $9,303,000 after buying an additional 139,846 shares during the last quarter. Institutional investors own 57.04% of the company’s stock.
In other news, Director Charles Stewart sold 93,375 shares of the company’s stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $36.32, for a total transaction of $3,391,380.00. Following the sale, the director now owns 1,387,922 shares in the company, valued at approximately $50,409,327.04. The sale was disclosed in a document filed 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 Thursday, July 1st. The stock was sold at an average price of $34.22, for a total value of $102,660.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,577,734 shares of company stock valued at $95,737,580. Insiders own 53.10% of the company’s stock.
Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Tuesday, April 27th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.27. Altice USA had a negative return on equity of 528.76% and a net margin of 7.17%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.49 billion. Altice USA’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts predict that Altice USA, Inc. will post 2.11 earnings per share for the current fiscal year.
Several analysts have weighed in on ATUS shares. FIX cut Altice USA from a “neutral” rating to an “underperform” rating and set a $38.00 price objective for the company. in a report on Tuesday, May 18th. Citigroup cut Altice USA from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $41.00 to $35.00 in a report on Friday, April 9th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $62.00 price objective on shares of Altice USA in a report on Sunday, June 27th. Raymond James dropped their price objective on Altice USA from $44.00 to $40.00 and set a “strong-buy” rating for the company in a report on Thursday, April 29th. Finally, TD Securities raised Altice USA from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $43.00 in a report on Thursday, June 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.53.
Altice USA Company Profile
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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