Daiwa Securities Group Inc. Grows Stake in Altice USA, Inc. (NYSE:ATUS)

Daiwa Securities Group Inc. increased its stake in Altice USA, Inc. (NYSE:ATUS) by 112.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,247 shares of the company’s stock after acquiring an additional 22,900 shares during the period. Daiwa Securities Group Inc.’s holdings in Altice USA were worth $1,407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Freedman Financial Associates Inc. purchased a new position in Altice USA in the fourth quarter worth about $61,000. Cullen Frost Bankers Inc. boosted its position in shares of Altice USA by 900.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 2,000 shares of the company’s stock valued at $76,000 after buying an additional 1,800 shares during the period. Infini Master Fund purchased a new position in shares of Altice USA during the fourth quarter valued at approximately $76,000. Arlington Partners LLC purchased a new position in shares of Altice USA during the first quarter valued at approximately $81,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Altice USA during the fourth quarter valued at approximately $107,000. Institutional investors own 58.66% of the company’s stock.

In other news, Director Charles Stewart sold 93,375 shares of the business’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $36.32, for a total transaction of $3,391,380.00. Following the sale, the director now directly owns 1,387,922 shares of the company’s stock, valued at $50,409,327.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Olsen sold 3,000 shares of the business’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $32.45, for a total transaction of $97,350.00. Following the sale, the executive vice president now directly owns 69,038 shares in the company, valued at $2,240,283.10. The disclosure for this sale can be found here. Insiders have sold 199,734 shares of company stock worth $7,242,900 over the last three months. Corporate insiders own 46.40% of the company’s stock.

Shares of ATUS stock opened at $37.83 on Monday. The business’s fifty day simple moving average is $34.52 and its 200-day simple moving average is $34.21. The company has a market cap of $17.39 billion, a PE ratio of 210.18 and a beta of 1.11. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 34.18. Altice USA, Inc. has a 12-month low of $21.97 and a 12-month high of $38.30.

Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Tuesday, April 27th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.27. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.49 billion. Altice USA had a return on equity of 25.67% and a net margin of 1.08%. Altice USA’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts forecast that Altice USA, Inc. will post 0.87 earnings per share for the current year.

Several brokerages have issued reports on ATUS. Raymond James dropped their target price on Altice USA from $44.00 to $40.00 and set a “strong-buy” rating for the company in a research report on Wednesday, May 5th. Zacks Investment Research upgraded Altice USA from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Monday, May 3rd. Wells Fargo & Company initiated coverage on shares of Altice USA in a research note on Monday, March 22nd. They set an “equal weight” rating and a $33.00 price target for the company. Royal Bank of Canada lifted their price target on shares of Altice USA from $33.00 to $39.00 in a research note on Thursday, February 11th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reaffirmed a “neutral” rating and set a $35.00 price target (down previously from $41.00) on shares of Altice USA in a research note on Thursday, April 15th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $38.35.

Altice USA Company Profile

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to approximately 5 million residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.

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

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