Altice USA Inc (ATUS) Short Interest Up 71.2% in November

Altice USA Inc (NYSE:ATUS) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 9,087,016 shares, an increase of 71.2% from the November 15th total of 5,307,413 shares. Approximately 7.9% of the shares of the stock are short sold. Based on an average daily volume of 1,821,141 shares, the short-interest ratio is currently 5.0 days.

A number of hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. acquired a new position in shares of Altice USA in the 2nd quarter valued at $69,443,000. Vanguard Group Inc. acquired a new position in shares of Altice USA in the 2nd quarter valued at $67,939,000. FMR LLC acquired a new position in shares of Altice USA in the 2nd quarter valued at $57,079,000. Citadel Advisors LLC acquired a new position in shares of Altice USA in the 2nd quarter valued at $46,997,000. Finally, Winslow Capital Management LLC acquired a new position in shares of Altice USA in the 2nd quarter valued at $46,854,000. 13.23% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on ATUS shares. Societe Generale started coverage on shares of Altice USA in a research note on Wednesday, December 13th. They set a “buy” rating for the company. Moffett Nathanson raised shares of Altice USA from a “neutral” rating to a “buy” rating in a research note on Friday, November 10th. Goldman Sachs Group raised shares of Altice USA from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, November 7th. Deutsche Bank reissued a “buy” rating and set a $35.00 price objective on shares of Altice USA in a research note on Monday, November 6th. Finally, Pivotal Research dropped their price objective on shares of Altice USA from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, December 6th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $31.71.

Shares of Altice USA (NYSE:ATUS) opened at $20.97 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 6.82. Altice USA has a 12 month low of $17.80 and a 12 month high of $35.29.

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About Altice USA

Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.

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