Nissay Asset Management Corp Japan ADV Takes $516,000 Position in Altice USA Inc (NYSE:ATUS)

Nissay Asset Management Corp Japan ADV bought a new position in shares of Altice USA Inc (NYSE:ATUS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,003 shares of the company’s stock, valued at approximately $516,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its holdings in shares of Altice USA by 154.7% in the third quarter. Vanguard Group Inc now owns 24,455,145 shares of the company’s stock valued at $443,617,000 after acquiring an additional 14,855,173 shares during the period. FMR LLC boosted its stake in Altice USA by 104.2% in the 4th quarter. FMR LLC now owns 8,973,351 shares of the company’s stock worth $148,240,000 after buying an additional 4,579,254 shares during the last quarter. Norges Bank acquired a new stake in Altice USA in the 4th quarter worth about $33,885,000. Deutsche Bank AG boosted its stake in Altice USA by 28.4% in the 4th quarter. Deutsche Bank AG now owns 7,755,835 shares of the company’s stock worth $128,125,000 after buying an additional 1,714,753 shares during the last quarter. Finally, Lancaster Investment Management LLP acquired a new stake in Altice USA in the 4th quarter worth about $26,748,000. Hedge funds and other institutional investors own 50.51% of the company’s stock.

ATUS stock traded up $0.14 during trading on Friday, reaching $23.80. 4,258,283 shares of the company’s stock were exchanged, compared to its average volume of 4,997,673. The company has a debt-to-equity ratio of 7.77, a quick ratio of 0.39 and a current ratio of 0.39. Altice USA Inc has a 1-year low of $14.49 and a 1-year high of $25.15. The firm has a market capitalization of $15.82 billion, a PE ratio of 297.50 and a beta of 1.03.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.08). The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.40 billion. Altice USA had a return on equity of 8.16% and a net margin of 1.27%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) EPS. Equities research analysts predict that Altice USA Inc will post 0.6 earnings per share for the current fiscal year.

ATUS has been the topic of several research analyst reports. TD Securities lifted their price objective on Altice USA from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 22nd. Barclays set a $27.00 price objective on Altice USA and gave the company a “buy” rating in a research note on Friday, February 22nd. Zacks Investment Research lowered Altice USA from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. TheStreet raised Altice USA from a “d+” rating to a “c+” rating in a research report on Thursday, April 25th. Finally, Pivotal Research lifted their price objective on Altice USA from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $25.90.

In other Altice USA news, Director Dennis Okhuijsen sold 551,724 shares of Altice USA stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $24.67, for a total transaction of $13,611,031.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Colleen Schmidt sold 100,000 shares of Altice USA stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $22.58, for a total value of $2,258,000.00. The disclosure for this sale can be found here. 45.00% of the stock is owned by corporate insiders.

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

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