Putnam Investments LLC lifted its position in Altice USA Inc (NYSE:ATUS) by 17.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 392,249 shares of the company’s stock after purchasing an additional 57,956 shares during the quarter. Putnam Investments LLC owned 0.06% of Altice USA worth $9,551,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of ATUS. Bank of Montreal Can boosted its holdings in shares of Altice USA by 340.9% in the 1st quarter. Bank of Montreal Can now owns 7,261 shares of the company’s stock worth $156,000 after purchasing an additional 5,614 shares in the last quarter. Toronto Dominion Bank bought a new stake in shares of Altice USA in the 1st quarter valued at about $1,263,000. Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of Altice USA in the 1st quarter valued at about $485,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Altice USA in the 1st quarter valued at about $26,961,000. Finally, TD Asset Management Inc. lifted its stake in shares of Altice USA by 5.2% in the 1st quarter. TD Asset Management Inc. now owns 204,882 shares of the company’s stock valued at $4,401,000 after acquiring an additional 10,198 shares during the last quarter. Hedge funds and other institutional investors own 50.98% of the company’s stock.
A number of research firms have recently weighed in on ATUS. Macquarie began coverage on Altice USA in a research note on Wednesday, June 19th. They issued a “buy” rating and a $30.00 target price for the company. ValuEngine lowered Altice USA from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. TD Securities lowered Altice USA from a “buy” rating to a “hold” rating and set a $33.00 target price for the company. in a research note on Thursday. Benchmark boosted their target price on Altice USA from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday. Finally, UBS Group set a $30.00 target price on Altice USA and gave the company a “buy” rating in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $32.07.
Altice USA (NYSE:ATUS) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.45 billion. Altice USA had a return on equity of 13.57% and a net margin of 3.16%. Altice USA’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.13) EPS. Sell-side analysts forecast that Altice USA Inc will post 0.56 EPS for the current year.
In other Altice USA news, Director Alt S.A.R.L. Next sold 15,000,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $26.40, for a total transaction of $396,000,000.00. Following the completion of the transaction, the director now owns 47,369,305 shares of the company’s stock, valued at approximately $1,250,549,652. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Olsen sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $27.03, for a total value 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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