Altice USA Inc (NYSE:ATUS) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 13,580,951 shares, a growth of 39.5% from the January 12th total of 9,734,759 shares. Approximately 11.5% of the company’s shares are short sold. Based on an average daily trading volume, of 2,271,309 shares, the days-to-cover ratio is presently 6.0 days.
Several analysts recently commented on ATUS shares. Deutsche Bank reaffirmed a “buy” rating and set a $35.00 price objective on shares of Altice USA in a research note on Monday, November 6th. Moffett Nathanson raised Altice USA from a “neutral” rating to a “buy” rating in a research note on Friday, November 10th. Goldman Sachs Group raised Altice USA from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, November 7th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $25.00 price objective (down previously from $34.00) on shares of Altice USA in a research note on Monday, November 6th. Finally, Societe Generale started coverage on Altice USA in a research note on Wednesday, December 13th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $32.21.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lucerne Capital Management LP acquired a new stake in shares of Altice USA in the 4th quarter valued at about $129,721,000. BlackRock Inc. raised its stake in shares of Altice USA by 161.5% in the 4th quarter. BlackRock Inc. now owns 3,227,522 shares of the company’s stock valued at $68,520,000 after purchasing an additional 1,993,479 shares during the period. Pelham Capital Ltd. raised its stake in shares of Altice USA by 54.9% in the 4th quarter. Pelham Capital Ltd. now owns 2,555,474 shares of the company’s stock valued at $54,253,000 after purchasing an additional 905,474 shares during the period. Thornburg Investment Management Inc. raised its stake in shares of Altice USA by 15.5% in the 3rd quarter. Thornburg Investment Management Inc. now owns 2,469,626 shares of the company’s stock valued at $67,445,000 after purchasing an additional 332,260 shares during the period. Finally, Vanguard Group Inc. acquired a new stake in shares of Altice USA in the 2nd quarter valued at about $67,939,000. 14.21% 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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