Shares of Altice USA, Inc. (NYSE:ATUS) dropped 0% on Tuesday after Morgan Stanley lowered their price target on the stock from $32.00 to $25.00. Morgan Stanley currently has an equal weight rating on the stock. Altice USA traded as low as $18.73 and last traded at $19.40. Approximately 4,668,545 shares changed hands during mid-day trading, an increase of 161% from the average daily volume of 1,790,000 shares. The stock had previously closed at $19.40.

ATUS has been the topic of several other reports. Moffett Nathanson initiated coverage on Altice USA in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $28.00 price objective on the stock. Deutsche Bank AG restated a “buy” rating and issued a $35.00 price objective on shares of Altice USA in a research report on Monday, November 6th. Guggenheim restated a “neutral” rating and issued a $31.00 price objective on shares of Altice USA in a research report on Friday, September 15th. Atlantic Securities initiated coverage on Altice USA in a research report on Tuesday, October 31st. They issued an “overweight” rating and a $32.00 price objective on the stock. Finally, Goldman Sachs Group, Inc. (The) upgraded Altice USA from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Tuesday, November 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Altice USA presently has an average rating of “Buy” and an average target price of $33.36.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC lifted its position in Altice USA by 4,703.6% during the third quarter. Cubist Systematic Strategies LLC now owns 48,036 shares of the company’s stock worth $1,312,000 after buying an additional 47,036 shares during the period. Stifel Financial Corp purchased a new position in Altice USA during the third quarter worth about $224,000. OxFORD Asset Management LLP lifted its position in Altice USA by 2.9% during the third quarter. OxFORD Asset Management LLP now owns 321,675 shares of the company’s stock worth $8,766,000 after buying an additional 9,175 shares during the period. Thornburg Investment Management Inc. lifted its position in Altice USA by 15.5% during the third quarter. Thornburg Investment Management Inc. now owns 2,469,626 shares of the company’s stock worth $67,445,000 after buying an additional 332,260 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new position in Altice USA during the third quarter worth about $3,978,000. Hedge funds and other institutional investors own 13.88% of the company’s stock.

The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 6.82.

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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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