Oppenheimer Asset Management Inc. Purchases 34,449 Shares of Altice USA, Inc. (NYSE:ATUS)
Oppenheimer Asset Management Inc. grew its position in Altice USA, Inc. (NYSE:ATUS – Free Report) by 25.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 169,721 shares of the company’s stock after buying an additional 34,449 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Altice USA were worth $580,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in ATUS. Covestor Ltd grew its stake in Altice USA by 798.9% in the first quarter. Covestor Ltd now owns 3,353 shares of the company’s stock valued at $42,000 after acquiring an additional 2,980 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Altice USA during the 1st quarter worth approximately $43,000. Cambridge Investment Research Advisors Inc. bought a new position in Altice USA in the fourth quarter valued at approximately $49,000. MQS Management LLC bought a new position in Altice USA in the fourth quarter valued at approximately $52,000. Finally, West Family Investments Inc. acquired a new position in shares of Altice USA in the fourth quarter valued at approximately $54,000. Institutional investors own 56.48% of the company’s stock.
Altice USA Stock Down 2.6 %
NYSE:ATUS opened at $2.96 on Monday. Altice USA, Inc. has a 12-month low of $2.01 and a 12-month high of $11.01. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -295.70 and a beta of 1.42. The stock’s 50 day moving average price is $3.13 and its two-hundred day moving average price is $3.24.
Altice USA (NYSE:ATUS – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. Altice USA had a negative return on equity of 16.96% and a negative net margin of 0.04%. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the business earned $0.35 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts expect that Altice USA, Inc. will post 0.54 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on ATUS shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Altice USA from $4.50 to $4.75 in a research report on Friday, May 5th. TheStreet cut Altice USA from a “c-” rating to a “d” rating in a research note on Monday, May 1st. Morgan Stanley reissued an “equal weight” rating and issued a $3.00 price objective on shares of Altice USA in a research report on Friday, August 4th. Loop Capital decreased their target price on shares of Altice USA from $12.00 to $3.00 in a research report on Thursday, May 4th. Finally, Pivotal Research cut their price target on shares of Altice USA from $4.50 to $3.00 in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.88.
Read Our Latest Report on Altice USA
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 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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