Altice USA Inc (NYSE:ATUS) Short Interest Update

Altice USA Inc (NYSE:ATUS) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 15,290,000 shares, a growth of 11.3% from the September 30th total of 13,740,000 shares. Approximately 4.2% of the company’s stock are short sold. Based on an average daily volume of 5,860,000 shares, the days-to-cover ratio is currently 2.6 days.

Altice USA stock traded up $0.13 during trading on Friday, hitting $26.88. 8,096,775 shares of the company were exchanged, compared to its average volume of 7,054,588. The business’s 50 day moving average is $28.85 and its 200 day moving average is $26.60. Altice USA has a 52 week low of $15.15 and a 52 week high of $31.78. The company has a market capitalization of $17.04 billion, a P/E ratio of 336.00 and a beta of 0.92. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 11.57.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. Altice USA had a return on equity of 17.04% and a net margin of 3.61%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the prior year, the company posted $0.04 earnings per share. Altice USA’s revenue was up .9% compared to the same quarter last year. Equities analysts expect that Altice USA will post 0.57 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Altice USA in the 2nd quarter valued at $41,000. Advisor Group Inc. grew its stake in shares of Altice USA by 26.6% during the 2nd quarter. Advisor Group Inc. now owns 4,503 shares of the company’s stock worth $111,000 after acquiring an additional 945 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Altice USA by 33.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,000 shares of the company’s stock worth $146,000 after acquiring an additional 1,500 shares during the period. NEXT Financial Group Inc bought a new position in shares of Altice USA during the 3rd quarter worth $147,000. Finally, Whitnell & Co. bought a new position in shares of Altice USA during the 3rd quarter worth $149,000. Institutional investors and hedge funds own 51.27% of the company’s stock.

A number of equities analysts have recently weighed in on ATUS shares. Pivotal Research reaffirmed a “buy” rating and set a $40.00 target price on shares of Altice USA in a research report on Friday, October 11th. ValuEngine raised Altice USA from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Barclays lowered Altice USA from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $33.00 to $31.00 in a research report on Wednesday, November 6th. Stephens upped their target price 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. Finally, Guggenheim upped their target price on Altice USA from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $31.75.

About Altice USA

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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