Synovus Financial Corp Invests $310,000 in Altice USA Inc (NYSE:ATUS)

Synovus Financial Corp acquired a new position in Altice USA Inc (NYSE:ATUS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,952 shares of the company’s stock, valued at approximately $310,000.

Several other institutional investors have also bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Altice USA in the 2nd quarter worth $41,000. Advisor Group Inc. raised its stake in Altice USA by 26.6% in 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 last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Altice USA by 33.3% in 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 last quarter. NEXT Financial Group Inc purchased a new position in Altice USA in the 3rd quarter worth $147,000. Finally, CSat Investment Advisory L.P. raised its stake in Altice USA by 1,094.6% in the 2nd quarter. CSat Investment Advisory L.P. now owns 7,096 shares of the company’s stock worth $173,000 after acquiring an additional 6,502 shares during the last quarter. 51.03% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ATUS traded down $0.18 during trading on Friday, reaching $26.23. 4,319,284 shares of the company traded hands, compared to its average volume of 5,242,426. The firm’s fifty day simple moving average is $29.17 and its 200 day simple moving average is $26.50. The stock has a market cap of $20.31 billion, a P/E ratio of 327.88 and a beta of 0.92. Altice USA Inc has a 12-month low of $15.15 and a 12-month high of $31.78. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 9.18.

Altice USA (NYSE:ATUS) last posted its earnings results on Tuesday, November 5th. The company reported $0.12 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.12. Altice USA had a return on equity of 15.68% and a net margin of 3.61%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same period last year, the firm earned $0.04 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts expect that Altice USA Inc will post 0.57 EPS for the current year.

In related news, insider Michael Olsen sold 30,000 shares of Altice USA stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $27.03, for a total value of $810,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alt S.A.R.L. Next sold 15,000,000 shares of Altice USA stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $26.40, for a total value of $396,000,000.00. Following the completion of the sale, the director now owns 47,369,305 shares in the company, valued at $1,250,549,652. The disclosure for this sale can be found here. 45.00% of the stock is owned by company insiders.

A number of brokerages recently issued reports on ATUS. Benchmark raised their target price on Altice USA from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. KeyCorp raised their target price on Altice USA from $25.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Co began coverage on Altice USA in a research note on Tuesday, August 27th. They issued an “outperform” rating and a $35.00 target price for the company. Nomura raised their target price on Altice USA from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Barclays lowered Altice USA from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $33.00 to $31.00 in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.00.

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

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