Strs Ohio Acquires Shares of 24,282 Altice USA Inc (ATUS)
Strs Ohio acquired a new stake in Altice USA Inc (NYSE:ATUS) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 24,282 shares of the company’s stock, valued at approximately $414,000.
A number of other large investors have also recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in Altice USA by 392.3% in the first quarter. Royal Bank of Canada now owns 13,871,854 shares of the company’s stock valued at $256,351,000 after acquiring an additional 11,053,821 shares during the last quarter. Lucerne Capital Management LP grew its stake in shares of Altice USA by 3.4% during the second quarter. Lucerne Capital Management LP now owns 7,708,872 shares of the company’s stock worth $131,514,000 after buying an additional 252,955 shares during the last quarter. Pelham Capital Ltd. bought a new stake in shares of Altice USA during the second quarter worth $118,536,000. BlackRock Inc. grew its stake in shares of Altice USA by 20.1% during the first quarter. BlackRock Inc. now owns 3,875,670 shares of the company’s stock worth $71,622,000 after buying an additional 648,148 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Altice USA during the second quarter worth $65,879,000. 37.44% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Citigroup decreased their target price on shares of Altice USA from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Barclays reaffirmed a “buy” rating and set a $25.00 target price on shares of Altice USA in a research note on Sunday, August 5th. TD Securities decreased their target price on shares of Altice USA from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, August 14th. Buckingham Research decreased their target price on shares of Altice USA from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, May 23rd. Finally, KeyCorp assumed coverage on shares of Altice USA in a research note on Wednesday, May 16th. They set an “overweight” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $26.19.
Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Thursday, August 2nd. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.08). Altice USA had a negative return on equity of 5.44% and a net margin of 19.65%. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the prior year, the firm earned ($0.73) EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. sell-side analysts predict that Altice USA Inc will post -0.2 earnings per share for the current fiscal year.
In related news, VP David Connolly sold 129,000 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $18.31, for a total value of $2,361,990.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Lisa Rosenblum sold 250,000 shares of the business’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $4,235,000.00. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
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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