Altice USA (ATUS) Trading 9.6% Higher
Shares of Altice USA Inc (NYSE:ATUS) traded up 9.6% during mid-day trading on Wednesday . The stock traded as high as $25.15 and last traded at $23.11. 11,592,700 shares were traded during mid-day trading, an increase of 250% from the average session volume of 3,314,650 shares. The stock had previously closed at $21.09.
Several analysts have issued reports on the company. Guggenheim reissued a “neutral” rating and issued a $31.00 price target on shares of Altice USA in a research note on Friday, September 15th. Moffett Nathanson assumed coverage on Altice USA in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $28.00 price target on the stock. Goldman Sachs Group raised Altice USA from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, November 7th. Atlantic Securities assumed coverage on Altice USA in a research note on Tuesday, October 31st. They issued an “overweight” rating and a $32.00 price target on the stock. Finally, Deutsche Bank reissued a “buy” rating and issued a $35.00 price target on shares of Altice USA in a research note on Monday, November 6th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.93.
The company has a debt-to-equity ratio of 6.82, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $16,250.00 and a PE ratio of -16.64.
A number of hedge funds and other institutional investors have recently made changes to their positions in ATUS. Columbus Hill Capital Management L.P. bought a new stake in shares of Altice USA during the second quarter worth approximately $162,000. Stifel Financial Corp bought a new stake in shares of Altice USA during the third quarter worth approximately $224,000. Atlantic Trust Group LLC bought a new stake in shares of Altice USA during the second quarter worth approximately $323,000. Neuberger Berman Group LLC bought a new stake in shares of Altice USA during the second quarter worth approximately $366,000. Finally, BT Investment Management Ltd bought a new stake in shares of Altice USA during the second quarter worth approximately $593,000. 13.23% of the stock is currently owned by hedge funds and other institutional investors.
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About Altice USA
Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.
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