Prudential Financial Inc. Acquires Shares of 10,350 Altice USA Inc (NYSE:ATUS)

Prudential Financial Inc. acquired a new stake in Altice USA Inc (NYSE:ATUS) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,350 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Landscape Capital Management L.L.C. boosted its holdings in Altice USA by 121.5% in the 2nd quarter. Landscape Capital Management L.L.C. now owns 242,001 shares of the company’s stock valued at $5,893,000 after purchasing an additional 132,768 shares during the period. Allianz Asset Management GmbH boosted its holdings in Altice USA by 184.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 51,047 shares of the company’s stock valued at $1,243,000 after purchasing an additional 33,120 shares during the period. Monashee Investment Management LLC bought a new stake in Altice USA in the 2nd quarter valued at about $9,010,000. Janus Henderson Group PLC boosted its holdings in Altice USA by 170.2% in the 2nd quarter. Janus Henderson Group PLC now owns 656,798 shares of the company’s stock valued at $15,994,000 after purchasing an additional 413,714 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Altice USA by 1.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 39,103 shares of the company’s stock valued at $952,000 after purchasing an additional 400 shares during the period. 50.98% of the stock is owned by hedge funds and other institutional investors.

ATUS has been the subject of a number of recent research reports. KeyCorp boosted their price objective on shares of Altice USA from $25.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Nomura boosted their price objective 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. Pivotal Research reissued a “buy” rating and issued a $40.00 price objective on shares of Altice USA in a report on Wednesday, July 31st. 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, September 19th. Finally, Citigroup boosted their price objective on shares of Altice USA from $27.00 to $32.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Altice USA has an average rating of “Buy” and an average price target of $32.07.



In related news, 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 transaction of $810,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the director now owns 47,369,305 shares of the company’s stock, valued at $1,250,549,652. The disclosure for this sale can be found here. Corporate insiders own 45.00% of the company’s stock.

Shares of Altice USA stock traded down $0.21 on Tuesday, reaching $28.94. 1,590,393 shares of the stock were exchanged, compared to its average volume of 5,978,741. The firm’s 50 day moving average is $28.14 and its 200-day moving average is $24.88. Altice USA Inc has a one year low of $14.49 and a one year high of $30.34. The company has a debt-to-equity ratio of 9.18, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $18.95 billion, a PE ratio of 361.69 and a beta of 0.89.

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

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

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