Altice USA, Inc. (NYSE:ATUS – Get Rating) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 27,390,000 shares, a decline of 25.3% from the November 15th total of 36,690,000 shares. Currently, 13.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,930,000 shares, the days-to-cover ratio is currently 4.0 days.
Altice USA Stock Down 0.3 %
NYSE ATUS traded down $0.01 on Friday, reaching $3.80. The company had a trading volume of 9,117,687 shares, compared to its average volume of 5,292,141. Altice USA has a 52 week low of $3.68 and a 52 week high of $17.23. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 2.70, a PEG ratio of 0.24 and a beta of 1.40. The stock’s 50 day moving average is $4.92 and its 200-day moving average is $7.82.
Altice USA (NYSE:ATUS – Get Rating) last posted its earnings results on Wednesday, November 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Altice USA had a net margin of 6.52% and a negative return on equity of 119.88%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis. As a group, analysts forecast that Altice USA will post 1.12 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clarkston Capital Partners LLC grew its stake in Altice USA by 10.4% in the third quarter. Clarkston Capital Partners LLC now owns 34,640,405 shares of the company’s stock valued at $201,954,000 after acquiring an additional 3,274,383 shares during the period. Vanguard Group Inc. boosted its position in shares of Altice USA by 11.7% during the first quarter. Vanguard Group Inc. now owns 22,253,606 shares of the company’s stock worth $277,725,000 after buying an additional 2,324,303 shares during the period. BlackRock Inc. boosted its position in shares of Altice USA by 1.6% during the first quarter. BlackRock Inc. now owns 16,302,827 shares of the company’s stock worth $203,460,000 after buying an additional 263,465 shares during the period. TPG GP A LLC boosted its position in shares of Altice USA by 2.8% during the second quarter. TPG GP A LLC now owns 8,282,378 shares of the company’s stock worth $76,612,000 after buying an additional 227,960 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in shares of Altice USA by 22.4% during the second quarter. Loomis Sayles & Co. L P now owns 8,175,220 shares of the company’s stock worth $75,620,000 after buying an additional 1,498,148 shares during the period. 56.28% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ATUS has been the topic of several recent analyst reports. Barclays decreased their price target on Altice USA from $12.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 29th. JPMorgan Chase & Co. cut their price objective on Altice USA from $12.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, November 3rd. The Goldman Sachs Group cut their price objective on Altice USA from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, November 4th. HSBC upgraded Altice USA from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Friday, November 4th. Finally, Pivotal Research downgraded Altice USA from a “buy” rating to a “hold” rating and cut their price objective for the company from $15.00 to $5.00 in a research report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Altice USA has an average rating of “Hold” and an average price target of $11.31.
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 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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