Altice USA (ATUS) Sees Large Volume Increase

Altice USA Inc (NYSE:ATUS) saw strong trading volume on Tuesday . 11,592,730 shares traded hands during mid-day trading, an increase of 250% from the previous session’s volume of 3,314,650 shares.The stock last traded at $23.11 and had previously closed at $21.09.

A number of equities analysts have weighed in on the stock. Pivotal Research reissued a “buy” rating and issued a $28.00 price objective on shares of Altice USA in a research report on Tuesday. Wells Fargo & Co reaffirmed a “market perform” rating and set a $25.00 price target (down previously from $34.00) on shares of Altice USA in a research report on Monday, November 6th. Societe Generale began coverage on shares of Altice USA in a research report on Wednesday, December 13th. They set a “buy” rating on the stock. Royal Bank of Canada reduced their price target on shares of Altice USA from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 14th. Finally, Goldman Sachs Group raised shares of Altice USA from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Tuesday, November 7th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $31.93.

The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 6.82. The stock has a market cap of $17,030.00 and a PE ratio of -16.63.

Hedge funds and other institutional investors have recently modified their holdings of the business. Columbus Hill Capital Management L.P. bought a new position in Altice USA in the second quarter worth about $162,000. Stifel Financial Corp bought a new position in Altice USA in the third quarter worth about $224,000. Atlantic Trust Group LLC bought a new position in Altice USA in the second quarter worth about $323,000. Neuberger Berman Group LLC bought a new position in Altice USA in the second quarter worth about $366,000. Finally, BT Investment Management Ltd bought a new position in Altice USA in the second quarter worth about $593,000. 13.23% of the stock is currently owned by hedge funds and other institutional investors.

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Altice USA Company Profile

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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