Dynamic Technology Lab Private Ltd acquired a new stake in Altice USA Inc (NYSE:ATUS) in the third quarter, Holdings Channel reports. The institutional investor acquired 112,953 shares of the company’s stock, valued at approximately $2,049,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Scopia Capital Management LP purchased a new position in Altice USA in the second quarter valued at $171,874,000. Massachusetts Financial Services Co. MA increased its stake in shares of Altice USA by 12.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,508,872 shares of the company’s stock worth $154,351,000 after purchasing an additional 959,186 shares in the last quarter. Pelham Capital Ltd. increased its stake in shares of Altice USA by 12.6% during the third quarter. Pelham Capital Ltd. now owns 7,825,066 shares of the company’s stock worth $141,947,000 after purchasing an additional 876,900 shares in the last quarter. Lucerne Capital Management LP increased its stake in shares of Altice USA by 1.5% during the third quarter. Lucerne Capital Management LP now owns 7,822,325 shares of the company’s stock worth $141,897,000 after purchasing an additional 113,453 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Altice USA by 8.8% during the third quarter. BlackRock Inc. now owns 6,880,262 shares of the company’s stock worth $124,808,000 after purchasing an additional 555,216 shares in the last quarter. 41.93% of the stock is owned by institutional investors.
NYSE:ATUS opened at $18.37 on Friday. The company has a debt-to-equity ratio of 6.11, a quick ratio of 0.45 and a current ratio of 0.45. Altice USA Inc has a 1-year low of $14.49 and a 1-year high of $25.15.
A number of research firms recently weighed in on ATUS. Royal Bank of Canada lowered their price target on shares of Altice USA to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, August 9th. TD Securities lowered their price target on shares of Altice USA from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, August 14th. Citigroup lowered their price target on shares of Altice USA from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Zacks Investment Research upgraded shares of Altice USA from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, Credit Suisse Group boosted their price target on shares of Altice USA from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 6th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Altice USA presently has a consensus rating of “Buy” and an average target price of $24.63.
In other Altice USA news, SVP Victoria Mink sold 37,502 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $18.99, for a total value of $712,162.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 42.92% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Dynamic Technology Lab Private Ltd Acquires Shares of 112,953 Altice USA Inc (ATUS)” was posted by Dakota Financial News and is the sole property of of Dakota Financial News. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://dakotafinancialnews.com/2018/12/07/dynamic-technology-lab-private-ltd-acquires-shares-of-112953-altice-usa-inc-atus.html.
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.
Recommended Story: What is the Dividend Aristocrat Index?
Want to see what other hedge funds are holding ATUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altice USA Inc (NYSE:ATUS).
Receive News & Ratings for Altice USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altice USA and related companies with MarketBeat.com's FREE daily email newsletter.