Altice USA Inc (NYSE:ATUS) Short Interest Update

Altice USA Inc (NYSE:ATUS) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 15,290,000 shares, a growth of 11.3% from the September 30th total of 13,740,000 shares. Approximately 4.2% of the shares of the stock are sold short. Based on an average daily volume of 5,860,000 shares, the days-to-cover ratio is currently 2.6 days.

Several hedge funds have recently modified their holdings of the company. Catalyst Capital Advisors LLC grew its position in shares of Altice USA by 1,993.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 30,937 shares of the company’s stock worth $888,000 after buying an additional 29,459 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Altice USA by 10.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,931,432 shares of the company’s stock worth $456,914,000 after buying an additional 1,524,836 shares during the last quarter. Whitnell & Co. bought a new stake in shares of Altice USA in the 3rd quarter worth approximately $149,000. First Trust Advisors LP grew its position in shares of Altice USA by 11.9% in the 3rd quarter. First Trust Advisors LP now owns 1,609,278 shares of the company’s stock worth $46,154,000 after buying an additional 170,966 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Altice USA by 43.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 38,038 shares of the company’s stock worth $1,091,000 after buying an additional 11,500 shares during the last quarter. Hedge funds and other institutional investors own 51.27% of the company’s stock.

ATUS has been the topic of several recent research reports. Benchmark increased their price objective on Altice USA from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. HSBC lowered Altice USA from a “buy” rating to a “hold” rating and set a $28.00 price objective on the stock. in a research report on Thursday. UBS Group set a $30.00 price target on Altice USA and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Wells Fargo & Co began coverage on Altice USA in a research report on Tuesday, August 27th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Barclays lowered Altice USA from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $33.00 to $31.00 in a research report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Altice USA presently has an average rating of “Buy” and an average target price of $31.75.

ATUS traded up $0.13 on Friday, hitting $26.88. 8,096,775 shares of the company were exchanged, compared to its average volume of 7,054,588. The firm has a fifty day simple moving average of $28.85 and a two-hundred day simple moving average of $26.60. The company has a debt-to-equity ratio of 11.57, a quick ratio of 0.44 and a current ratio of 0.44. Altice USA has a 12 month low of $15.15 and a 12 month high of $31.78. The stock has a market capitalization of $17.04 billion, a PE ratio of 336.00 and a beta of 0.92.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.48 billion. Altice USA had a return on equity of 17.04% and a net margin of 3.61%. Altice USA’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. On average, equities analysts expect that Altice USA will post 0.57 earnings per share for the current 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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