Bleichroeder LP grew its stake in Altice USA, Inc. (NYSE: ATUS) by 3.6% during the second quarter, according to its most recent 13F filing with the SEC.
The firm owned 728,600 shares of the company’s stock after acquiring an additional 25,000 shares during the period.
Altice USA comprises 3.8% of Bleichroeder LP’s investment portfolio, making the stock it's 8th biggest holding. Bleichroeder LP owned approximately 0.16% of Altice USA worth $24,874,000 as of its most recent filing with the SEC.
Altice USA, Inc. (NYSE: ATUS) Holdings Raised by Bleichroeder LP
Several other institutional investors also recently added to or reduced their stakes in the company. Private Wealth Advisors increased its stake in Altice USA by 1.1% during the 1st quarter.
Private Wealth Advisors now owns 29,215 shares of the company’s stock worth $950,000 after buying an additional 328 shares during the period.
Clear Harbor Asset Management LLC increased its stake in Altice USA by 1.6% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 28,943 shares of the company’s stock worth $988,000 after buying an additional 449 shares during the period.
Janus Henderson Group PLC increased its stake in Altice USA by 0.4% during the 1st quarter. Janus Henderson Group PLC now owns 127,408 shares of the company’s stock worth $4,144,000 after buying an additional 551 shares during the period.
Victory Capital Management Inc. increased its position in shares of Altice USA by 0.7% in the 2nd quarter.
Victory Capital Management Inc. now owns 117,181 shares of the company’s stock valued at $4,001,000 after purchasing an additional 834 shares during the last quarter.
Finally, Bridgewater Advisors Inc. increased its position in shares of Altice USA by 2.1% in the 2nd quarter.
Bridgewater Advisors Inc. now owns 49,691 shares of the company’s stock valued at $1,696,000 after purchasing an additional 1,021 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.
NYSE: ATUS traded down $0.49 during trading hours on Friday, reaching $16.30. 7,862,179 shares of the company’s stock were exchanged, compared to its average volume of 6,650,864.
The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of 10.19, and a beta of 1.18. The company has a 50-day moving average of $24.21 and a 200 day moving average of $30.79. Altice USA, Inc. has a 1-year low of $16.07 and a 1-year high of $38.30.
Altice USA (NYSE: ATUS) last announced its quarterly earnings data on Tuesday, July 27th. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04.
The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.52 billion.
Altice USA had a net margin of 8.00% and a negative return on equity of 129.77%. Equities research analysts forecast that Altice USA, Inc. will post 2.14 earnings per share for the current fiscal year.
Several brokerages have commented on ATUS. Wells Fargo & Company dropped their price objective on shares of Altice USA from $34.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, October 8th.
Credit Suisse Group downgraded shares of Altice USA from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $46.00 to $24.00 in a research report on Monday, September 27th.
Zacks Investment Research downgraded shares of Altice USA from a “hold” rating to a “sell” rating and set a $21.00 price objective on the stock. in a research report on Tuesday, September 28th.
Morgan Stanley dropped their price objective on shares of Altice USA from $35.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, October 11th.
Finally, Deutsche Bank Aktiengesellschaft cut shares of Altice USA from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $22.00 in a report on Tuesday, October 12th.
Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock.
According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.00.
In other Altice USA 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 transaction of $82,740.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
In the last 90 days, insiders have sold 9,000 shares of company stock valued at $237,720. 53.10% of the stock is owned by insiders.
Altice USA Profile
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 Cablevision and Cequel business operations.
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