Altice USA Target of Unusually High Options Trading (ATUS)
Altice USA Inc (NYSE:ATUS) was the target of some unusual options trading on Wednesday. Stock investors purchased 744 call options on the stock. This represents an increase of 933% compared to the typical volume of 72 call options.
Large investors have recently added to or reduced their stakes in the business. Columbus Hill Capital Management L.P. acquired a new stake in shares of Altice USA in the 2nd quarter valued at approximately $162,000. Stifel Financial Corp acquired a new stake in shares of Altice USA in the 3rd quarter valued at approximately $224,000. OxFORD Asset Management LLP boosted its holdings in shares of Altice USA by 2.9% in the 3rd quarter. OxFORD Asset Management LLP now owns 321,675 shares of the company’s stock valued at $8,766,000 after buying an additional 9,175 shares during the last quarter. Atlantic Trust Group LLC acquired a new stake in shares of Altice USA in the 2nd quarter valued at approximately $323,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Altice USA in the 2nd quarter valued at approximately $366,000. 13.24% of the stock is owned by hedge funds and other institutional investors.
Altice USA (NYSE ATUS) opened at $18.44 on Friday. Altice USA has a 12-month low of $17.80 and a 12-month high of $35.29. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 6.82.
ATUS has been the subject of several research analyst reports. Moffett Nathanson started coverage on Altice USA in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $28.00 price objective for the company. Deutsche Bank reaffirmed a “buy” rating and set a $35.00 price target on shares of Altice USA in a research report on Monday, November 6th. Guggenheim reaffirmed a “neutral” rating and set a $31.00 price target on shares of Altice USA in a research report on Friday, September 15th. Atlantic Securities started coverage on Altice USA in a research report on Tuesday, October 31st. They set an “overweight” rating and a $32.00 price target for the company. Finally, Morgan Stanley reduced their price target on Altice USA from $32.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $33.36.
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About Altice USA
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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