OLD National Bancorp IN Acquires New Holdings in Altice USA Inc (NYSE:ATUS)

OLD National Bancorp IN acquired a new stake in shares of Altice USA Inc (NYSE:ATUS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,365 shares of the company’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Deltec Asset Management LLC bought a new position in Altice USA during the first quarter valued at approximately $10,867,000. Neuberger Berman Group LLC raised its position in shares of Altice USA by 425.2% in the first quarter. Neuberger Berman Group LLC now owns 4,926,363 shares of the company’s stock valued at $105,818,000 after purchasing an additional 3,988,331 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Altice USA in the first quarter valued at approximately $268,000. Marshall Wace LLP raised its position in shares of Altice USA by 36,432.8% in the first quarter. Marshall Wace LLP now owns 678,049 shares of the company’s stock valued at $14,564,000 after purchasing an additional 676,193 shares during the period. Finally, Nisa Investment Advisors LLC bought a new position in shares of Altice USA in the first quarter valued at approximately $645,000. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the stock. Nomura lifted their price target on shares of Altice USA from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday. TheStreet raised shares of Altice USA from a “d+” rating to a “c+” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $31.00 price target (up previously from $28.00) on shares of Altice USA in a research report on Thursday. KeyCorp lifted their price target on shares of Altice USA from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, TD Securities lifted their price target on shares of Altice USA from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $29.42.

Shares of Altice USA stock traded up $1.26 during midday trading on Thursday, hitting $27.07. The company had a trading volume of 4,203,191 shares, compared to its average volume of 3,814,969. The company’s 50 day moving average price is $24.84. The company has a market cap of $17.66 billion, a PE ratio of 338.38 and a beta of 0.99. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 7.77. Altice USA Inc has a 1-year low of $14.49 and a 1-year high of $26.56.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. Altice USA had a net margin of 1.27% and a return on equity of 8.16%. Altice USA’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) earnings per share. Equities analysts predict that Altice USA Inc will post 0.51 earnings per share for the current fiscal year.

In other news, Director Dennis Okhuijsen sold 551,724 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $24.67, for a total value of $13,611,031.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 45.00% of the company’s stock.

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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