Altice USA’s (ATUS) Neutral Rating Reaffirmed at Guggenheim
Altice USA Inc (NASDAQ:ATUS)‘s stock had its “neutral” rating restated by research analysts at Guggenheim in a note issued to investors on Friday, MarketBeat.com reports. They currently have a $31.00 price target on the stock. Guggenheim’s price target indicates a potential upside of 13.55% from the company’s current price.
Several other equities research analysts have also issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $32.00 price target (up from $31.00) on shares of Altice USA in a research note on Wednesday, August 23rd. Pivotal Research restated a “buy” rating and set a $38.00 price objective on shares of Altice USA in a research note on Tuesday, August 8th. Wells Fargo & Company assumed coverage on shares of Altice USA in a research note on Wednesday, July 26th. They set a “market perform” rating and a $34.00 price objective on the stock. BNP Paribas assumed coverage on shares of Altice USA in a research note on Tuesday, July 18th. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, Deutsche Bank AG assumed coverage on shares of Altice USA in a research note on Monday, July 17th. They set a “buy” rating and a $36.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $35.92.
Altice USA (NASDAQ:ATUS) opened at 27.30 on Friday. The firm’s market capitalization is $20.12 billion. The firm’s 50-day moving average is $30.77 and its 200 day moving average is $31.35. Altice USA has a 52-week low of $27.27 and a 52-week high of $35.29.
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In related news, Director Mark Mullen purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were acquired at an average price of $30.00 per share, for a total transaction of $150,000.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $150,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Victoria Mink purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The stock was bought at an average price of $30.00 per share, for a total transaction of $30,000.00. Following the purchase, the senior vice president now owns 37,502 shares in the company, valued at approximately $1,125,060. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 74,000 shares of company stock worth $2,220,000.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Columbus Hill Capital Management L.P. acquired a new position in Altice USA in the 2nd quarter valued at about $162,000. Atlantic Trust Group LLC acquired a new position in Altice USA in the 2nd quarter valued at about $323,000. Neuberger Berman Group LLC acquired a new position in Altice USA in the 2nd quarter valued at about $366,000. BT Investment Management Ltd acquired a new position in Altice USA in the 2nd quarter valued at about $593,000. Finally, Tudor Investment Corp ET AL acquired a new position in Altice USA in the 2nd quarter valued at about $607,000.
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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