State of New Jersey Common Pension Fund D Purchases 23,919 Shares of Altice USA, Inc. (NYSE:ATUS)
State of New Jersey Common Pension Fund D increased its position in shares of Altice USA, Inc. (NYSE:ATUS – Get Rating) by 11.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,458 shares of the company’s stock after purchasing an additional 23,919 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.05% of Altice USA worth $1,367,000 at the end of the most recent reporting period.
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Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in Altice USA by 5.1% during the first quarter. Bank of New York Mellon Corp now owns 771,039 shares of the company’s stock worth $9,623,000 after acquiring an additional 37,677 shares in the last quarter. American Century Companies Inc. raised its stake in Altice USA by 22.7% during the first quarter. American Century Companies Inc. now owns 23,401 shares of the company’s stock worth $292,000 after acquiring an additional 4,336 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in Altice USA by 35.6% during the first quarter. Cetera Advisor Networks LLC now owns 13,674 shares of the company’s stock worth $171,000 after acquiring an additional 3,588 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Altice USA during the first quarter worth about $351,000. Finally, MetLife Investment Management LLC acquired a new position in Altice USA during the first quarter worth about $134,000. Institutional investors own 57.41% of the company’s stock.
Analyst Ratings Changes
ATUS has been the subject of several research analyst reports. Cowen lowered their target price on Altice USA from $39.00 to $31.00 in a research note on Thursday, November 3rd. Citigroup raised Altice USA from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $12.00 to $8.00 in a research note on Thursday, October 13th. Evercore ISI lowered their price objective on Altice USA to $5.00 in a research note on Friday, December 2nd. Morgan Stanley lowered their price objective on Altice USA from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, November 4th. Finally, Credit Suisse Group lowered their price objective on Altice USA from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Altice USA presently has an average rating of “Hold” and a consensus price target of $10.98.
Altice USA Trading Up 4.1 %
NYSE ATUS opened at $4.80 on Monday. The firm has a market capitalization of $2.18 billion, a P/E ratio of 3.40, a PEG ratio of 0.49 and a beta of 1.36. The business has a fifty day simple moving average of $4.42 and a 200 day simple moving average of $6.94. Altice USA, Inc. has a 12 month low of $3.68 and a 12 month high of $15.36.
Altice USA (NYSE:ATUS – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Altice USA had a net margin of 6.52% and a negative return on equity of 119.88%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 earnings per share. As a group, sell-side analysts predict that Altice USA, Inc. will post 1.01 EPS 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, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to approximately five 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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