First Trust Advisors LP’s Massive Hedge Fund Investment in Altice USA Sparks Excitement Among Investors

The investment world is always abuzz with stories of hedge funds, their holdings, and the strategies they use to generate returns. One such story that has caught the attention of investors and market watchers alike revolves around First Trust Advisors LP and its latest move in the market.

According to a disclosure filed with the Securities and Exchange Commission (SEC) on June 8, 2023, First Trust Advisors LP grew its holdings in Altice USA, Inc. (NYSE:ATUS) by a staggering 235.7% during the fourth quarter of the previous year. The fund purchased an additional 112,149 shares during this period, bringing its total holdings in Altice USA to 159,724 shares which were worth $735,000 as of its most recent SEC filing.

This news has caused ripples of excitement in investment circles as it signals a strong vote of confidence in Altice USA’s future prospects. Hedge funds like First Trust Advisors LP are known for their ability to identify hidden gems before the broader market does and make investments that can offer significant returns over time. Indeed, Altice USA’s stock price performance alone speaks volumes about its tremendous potential.

Shares of NYSE:ATUS opened at $2.76 on Thursday following this disclosure filing. The company’s stock had a 50-day moving average price of $2.90 and a two-hundred day moving average price of $3.80 which highlights how this is still very much an early-stage investment with plenty of upside given current valuations.

Of course, savvy investors know that nothing is guaranteed when it comes to financial markets. However, if we look at Altice USA’s trading history over the past twelve months, we see that it has traded at both a 12-month low of $2.31 as well as at a high of $13.17 showing that there could indeed be significant gains up for grabs if those who invest can identify the right timing to enter and exit trades.

Furthermore, Altice USA has a market capitalization of $1.25 billion, a PE ratio of 55.21, and a beta of 1.37 which underlines just how interesting this investment opportunity is for investors.

Nevertheless, investors should note that the hedge fund’s interest in Altice USA is not unique. They can check HoldingsChannel.com to review other hedge funds that are holding ATUS and access insider trades to get an in-depth understanding of market trends and make informed decisions.

All things considered, First Trust Advisors LP’s move into Altice USA highlights the ongoing allure and bustle of finding hidden opportunities in financial markets as it seeks to benefit from undervalued assets with multiple value drivers underpinning its investment thesis.

Changes in Ownership of Altice USA, Inc. Amongst Hedge Funds and Institutional Investors

Altice USA, Inc. (NYSE: ATUS) has seen changes in the positions of several hedge funds and institutional investors in the company, according to recent reports. Bank of New York Mellon Corp increased its ownership in the provider of broadband, pay television, telephony services, proprietary content, and advertising services by 5.1% during Q1 reaching 771,039 shares valued at $9,623,000 after acquiring an additional 37,677 shares in the last quarter. American Century Companies Inc., too, increased its stake in Altice USA by 22.7% over the same quarter to own 23,401 shares worth $292,000 after purchasing an additional 4,336 shares while Cetera Advisor Networks LLC raised its stake by 35.6% to own 13,674 shares worth $171,000. The list also includes Acadian Asset Management LLC and MetLife Investment Management LLC with new positions in Altice USA valued at approximately $351,000 and $134,000 respectively. Institutional investors and hedge funds hold a total of 57.41% ownership of the company’s stock.

The provider has recently been subject to target price cuts from research analysts who issue reports on stocks such as Altice USA which resulted in various advisory recommendations for this firm based on that data alone on HoldingsChannel.com recommends keeping up-to-date with latest updates regarding said target prices and insider trades for Altice USA through their platform.

Nevertheless, Altice USA posted better-than-expected Q1 earnings results recording revenue figures amounting to $2.29 billion for that period; it should be noted though that this was slightly lower than predicted estimates amounting to $2.32 billion despite these results increasing investor investment led largely by speculation due to recent movements in consumer media product markets particularly towards live-stream content consumption over traditional broadcasting television networks.

The PSG-owned firm formerly headed by Patrick Drahi has varied its brand offerings to include Optimum, Suddenlink, Optimum Mobile, Altice Business, News 12 Networks, Cheddar News alongside a4 Advertising and i24 News.