TimesSquare Capital Management LLC Sells 533,900 Shares of Altice USA Inc (NYSE:ATUS)

TimesSquare Capital Management LLC cut its holdings in Altice USA Inc (NYSE:ATUS) by 16.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,677,800 shares of the company’s stock after selling 533,900 shares during the period. TimesSquare Capital Management LLC’s holdings in Altice USA were worth $76,799,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ATUS. First Trust Advisors LP increased its position in shares of Altice USA by 60.2% in the second quarter. First Trust Advisors LP now owns 1,438,312 shares of the company’s stock valued at $35,023,000 after acquiring an additional 540,256 shares during the period. Prudential Financial Inc. purchased a new position in shares of Altice USA in the second quarter valued at about $252,000. Boston Partners purchased a new position in shares of Altice USA in the second quarter valued at about $242,954,000. Janus Henderson Group PLC increased its position in shares of Altice USA by 170.2% in the second quarter. Janus Henderson Group PLC now owns 656,798 shares of the company’s stock valued at $15,994,000 after acquiring an additional 413,714 shares during the period. Finally, Verition Fund Management LLC increased its position in shares of Altice USA by 11.2% in the second quarter. Verition Fund Management LLC now owns 21,161 shares of the company’s stock valued at $515,000 after acquiring an additional 2,137 shares during the period. 51.27% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on ATUS shares. Stephens boosted their price objective on shares of Altice USA from $6.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Benchmark boosted their price target on shares of Altice USA from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Sanford C. Bernstein assumed coverage on shares of Altice USA in a research report on Tuesday, October 15th. They set an “outperform” rating and a $38.00 price target on the stock. Nomura boosted their price target on shares of Altice USA from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Guggenheim boosted their price target on shares of Altice USA from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Altice USA currently has a consensus rating of “Buy” and a consensus target price of $32.00.

Shares of NYSE ATUS traded down $0.27 during midday trading on Tuesday, hitting $26.51. 4,911,011 shares of the company traded hands, compared to its average volume of 5,248,360. Altice USA Inc has a 12-month low of $15.15 and a 12-month high of $31.78. The company has a debt-to-equity ratio of 11.57, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a 50-day moving average price of $28.99 and a 200 day moving average price of $26.55. The firm has a market cap of $16.99 billion, a P/E ratio of 331.38 and a beta of 0.92.

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, meeting the consensus estimate of $0.12. Altice USA had a net margin of 3.61% and a return on equity of 17.04%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same quarter in the previous year, the company earned $0.04 earnings per share. Altice USA’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts expect that Altice USA Inc will post 0.57 earnings per share for the current year.

In related news, Director Alt S.A.R.L. Next sold 15,000,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $26.40, for a total transaction of $396,000,000.00. Following the transaction, the director now owns 47,369,305 shares in the company, valued at $1,250,549,652. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 45.00% of the stock is owned by insiders.

Altice USA Company Profile

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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