Skandinaviska Enskilda Banken AB publ reduced its holdings in Altice USA, Inc. (NYSE:ATUS) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,407 shares of the company’s stock after selling 1,666 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Altice USA were worth $1,516,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Ossiam acquired a new position in shares of Altice USA in the 1st quarter worth approximately $56,000. Deseret Mutual Benefit Administrators acquired a new position in shares of Altice USA in the 2nd quarter worth approximately $86,000. Verdence Capital Advisors LLC acquired a new position in shares of Altice USA in the 1st quarter worth approximately $202,000. Alberta Investment Management Corp acquired a new position in shares of Altice USA in the 1st quarter worth approximately $218,000. Finally, Twinbeech Capital LP bought a new position in Altice USA in the 1st quarter worth approximately $221,000. 54.85% of the stock is currently owned by institutional investors and hedge funds.
ATUS has been the subject of several research analyst reports. HSBC upgraded shares of Altice USA from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Friday, August 6th. Morgan Stanley dropped their price objective on shares of Altice USA from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Thursday, July 29th. Zacks Investment Research cut shares of Altice USA from a “buy” rating to a “hold” rating and set a $38.00 price objective for the company. in a research report on Tuesday, June 29th. Raymond James cut shares of Altice USA from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $40.00 to $38.00 in a research report on Thursday, July 29th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $62.00 price objective on shares of Altice USA in a research report on Sunday, June 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $38.53.
Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Tuesday, July 27th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.52 billion. Altice USA had a net margin of 8.00% and a negative return on equity of 129.77%. Sell-side analysts predict that Altice USA, Inc. will post 1.98 earnings per share for the current year.
In related news, EVP Michael Olsen sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $27.58, for a total value of $82,740.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 9,000 shares of company stock valued at $278,310. Company insiders own 53.10% of the company’s stock.
About Altice USA
Altice USA, Inc engages in the provision of broadband, pay television, telephony services, proprietary content, and advertising services. Its brands include Optimum, Suddenlink, Lightpath, AMS, News 12 Networks, and News 12 Varsity. The firm operates through the Cablevision and Cequel business operations.
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