Synovus Financial Corp Buys Shares of 10,952 Altice USA Inc (NYSE:ATUS)

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Synovus Financial Corp bought a new stake in Altice USA Inc (NYSE:ATUS) during the third quarter, HoldingsChannel reports. The institutional investor bought 10,952 shares of the company’s stock, valued at approximately $310,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP increased its position in shares of Altice USA by 60.2% during the second quarter. First Trust Advisors LP now owns 1,438,312 shares of the company’s stock worth $35,023,000 after acquiring an additional 540,256 shares during the period. Prudential Financial Inc. purchased a new stake in shares of Altice USA during the second quarter worth $252,000. Boston Partners purchased a new stake in shares of Altice USA during the second quarter worth $242,954,000. Janus Henderson Group PLC increased its position in shares of Altice USA by 170.2% during the second quarter. Janus Henderson Group PLC now owns 656,798 shares of the company’s stock worth $15,994,000 after acquiring an additional 413,714 shares during the period. Finally, Verition Fund Management LLC increased its position in shares of Altice USA by 11.2% during the second quarter. Verition Fund Management LLC now owns 21,161 shares of the company’s stock worth $515,000 after acquiring an additional 2,137 shares during the period. 51.03% of the stock is currently owned by institutional investors.

Shares of ATUS stock traded down $0.18 on Friday, reaching $26.23. 4,319,284 shares of the stock were exchanged, compared to its average volume of 5,242,426. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 9.18. The business’s 50 day moving average price is $29.17 and its 200 day moving average price is $26.50. The company has a market capitalization of $20.31 billion, a price-to-earnings ratio of 327.88 and a beta of 0.92. Altice USA Inc has a twelve month low of $15.15 and a twelve month high of $31.78.

Altice USA (NYSE:ATUS) last issued its earnings results on Tuesday, November 5th. The company reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.48 billion. Altice USA had a net margin of 3.61% and a return on equity of 15.68%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Equities research analysts forecast that Altice USA Inc will post 0.57 earnings per share for the current year.

In other Altice USA news, insider Michael Olsen sold 30,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $27.03, for a total value of $810,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alt S.A.R.L. Next sold 15,000,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $26.40, for a total transaction of $396,000,000.00. Following the completion of the transaction, the director now owns 47,369,305 shares of the company’s stock, valued at approximately $1,250,549,652. The disclosure for this sale can be found here. Insiders own 45.00% of the company’s stock.

A number of analysts have recently weighed in on ATUS shares. Stephens upped their price objective on Altice USA from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. UBS Group set a $30.00 price objective on Altice USA and gave the stock a “buy” rating in a research report on Tuesday, August 20th. TD Securities cut their price objective on Altice USA from $33.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday. Benchmark upped their price objective on Altice USA from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Co started coverage on Altice USA in a research report on Tuesday, August 27th. They set an “outperform” rating and a $35.00 price objective on the stock. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $32.00.

Altice USA Profile

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.

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Want to see what other hedge funds are holding ATUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altice USA Inc (NYSE:ATUS).

Institutional Ownership by Quarter for Altice USA (NYSE:ATUS)

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