Deltec Asset Management LLC Reduces Holdings in Altice USA Inc (NYSE:ATUS)

Deltec Asset Management LLC decreased its position in Altice USA Inc (NYSE:ATUS) by 56.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 274,000 shares of the company’s stock after selling 350,533 shares during the period. Altice USA accounts for 2.0% of Deltec Asset Management LLC’s holdings, making the stock its 13th largest position. Deltec Asset Management LLC’s holdings in Altice USA were worth $7,858,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Altice USA in the 2nd quarter valued at approximately $41,000. Advisor Group Inc. lifted its holdings in shares of Altice USA by 26.6% in the 2nd quarter. Advisor Group Inc. now owns 4,503 shares of the company’s stock worth $111,000 after acquiring an additional 945 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Altice USA by 33.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,000 shares of the company’s stock worth $146,000 after acquiring an additional 1,500 shares during the last quarter. NEXT Financial Group Inc acquired a new position in shares of Altice USA in the 3rd quarter worth approximately $147,000. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Altice USA by 1,094.6% in the 2nd quarter. CSat Investment Advisory L.P. now owns 7,096 shares of the company’s stock worth $173,000 after acquiring an additional 6,502 shares during the last quarter. 51.09% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently commented on ATUS shares. Pivotal Research restated a “buy” rating and issued a $40.00 price objective on shares of Altice USA in a report on Friday, October 11th. UBS Group set a $30.00 price objective on shares of Altice USA and gave the stock a “buy” rating in a report on Tuesday, August 20th. Guggenheim upped their price objective on shares of Altice USA from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. upped their price objective on shares of Altice USA from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, TD Securities lowered shares of Altice USA from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company. Altice USA has an average rating of “Buy” and an average target price of $33.20.

In other Altice USA news, Director Alt S.A.R.L. Next sold 15,000,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $26.40, for a total transaction of $396,000,000.00. Following the sale, the director now directly owns 47,369,305 shares in the company, valued at approximately $1,250,549,652. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Olsen sold 30,000 shares of the stock in a transaction that occurred 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. 45.00% of the stock is owned by corporate insiders.

Altice USA stock opened at $29.06 on Friday. The firm has a market cap of $18.82 billion, a PE ratio of 363.25 and a beta of 0.90. Altice USA Inc has a 52-week low of $14.49 and a 52-week high of $30.34. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 9.18. The company’s 50 day moving average is $29.02 and its two-hundred day moving average is $26.00.

Altice USA (NYSE:ATUS) last released its earnings results 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 company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. Altice USA had a net margin of 3.16% and a return on equity of 13.57%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) EPS. On average, equities research analysts anticipate that Altice USA Inc will post 0.58 earnings per share 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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