Tower Research Capital LLC TRC Takes Position in Altice USA Inc (NYSE:ATUS)

Tower Research Capital LLC TRC acquired a new stake in shares of Altice USA Inc (NYSE:ATUS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,333 shares of the company’s stock, valued at approximately $446,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Altice USA by 62.0% during the second quarter. BlackRock Inc. now owns 12,439,401 shares of the company’s stock valued at $302,901,000 after purchasing an additional 4,761,763 shares during the last quarter. FMR LLC raised its holdings in shares of Altice USA by 25.6% during the first quarter. FMR LLC now owns 11,272,679 shares of the company’s stock valued at $242,137,000 after purchasing an additional 2,299,328 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Altice USA by 425.2% during the first quarter. Neuberger Berman Group LLC now owns 4,926,363 shares of the company’s stock valued at $105,818,000 after purchasing an additional 3,988,331 shares during the last quarter. Egerton Capital UK LLP purchased a new position in shares of Altice USA during the second quarter valued at approximately $95,375,000. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Altice USA by 1.9% during the first quarter. TimesSquare Capital Management LLC now owns 3,622,700 shares of the company’s stock valued at $77,816,000 after purchasing an additional 66,100 shares during the last quarter. 50.98% of the stock is owned by hedge funds and other institutional investors.

ATUS stock traded up $0.02 during midday trading on Thursday, reaching $29.91. 172,326 shares of the company’s stock traded hands, compared to its average volume of 5,449,903. Altice USA Inc has a 52-week low of $14.49 and a 52-week high of $29.97. The stock has a market cap of $19.17 billion, a P/E ratio of 373.81 and a beta of 0.90. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 9.18. The stock’s 50-day moving average is $27.86 and its 200 day moving average is $24.69.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.05. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Altice USA had a net margin of 3.16% and a return on equity of 13.57%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.13) earnings per share. As a group, research analysts expect that Altice USA Inc will post 0.56 EPS for the current fiscal year.

Several research firms have recently weighed in on ATUS. Benchmark boosted their price objective on shares of Altice USA from $35.00 to $36.00 and gave the company a “buy” rating in a report on Thursday. Guggenheim upped their target price on shares of Altice USA from $32.00 to $33.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Altice USA from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Macquarie assumed coverage on shares of Altice USA in a report on Wednesday, June 19th. They set a “buy” rating and a $30.00 target price for the company. Finally, Nomura upped their target price on shares of Altice USA from $35.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Altice USA currently has an average rating of “Buy” and an average target price of $32.07.

In other news, Director Alt S.A.R.L. Next sold 15,000,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $26.40, for a total value of $396,000,000.00. Following the completion of the sale, the director now directly owns 47,369,305 shares of the company’s stock, valued at $1,250,549,652. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Olsen sold 30,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $27.03, for a total transaction of $810,900.00. The disclosure for this sale can be found here. Corporate insiders own 45.00% of the company’s stock.

Altice USA Profile

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

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