Canada Pension Plan Investment Board Invests $1.30 Billion in Altice USA Inc (NASDAQ:ATUS)

Canada Pension Plan Investment Board bought a new stake in shares of Altice USA Inc (NASDAQ:ATUS) during the second quarter, Holdings Channel reports. The fund bought 42,265,874 shares of the company’s stock, valued at approximately $1,296,928,000. Altice USA makes up approximately 3.0% of Canada Pension Plan Investment Board’s portfolio, making the stock its 3rd largest position. Canada Pension Plan Investment Board owned 0.17% of Altice USA at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Pelham Capital Ltd. purchased a new position in Altice USA during the second quarter valued at about $53,295,000. Coronation Fund Managers Ltd. purchased a new position in Altice USA during the second quarter valued at about $780,000. Egerton Capital UK LLP purchased a new position in Altice USA during the second quarter valued at about $64,600,000. Sei Investments Co. purchased a new position in Altice USA during the second quarter valued at about $4,370,000. Finally, TD Asset Management Inc. purchased a new position in Altice USA during the second quarter valued at about $656,000.

Shares of Altice USA Inc (NASDAQ ATUS) opened at 31.09 on Thursday. The stock’s market cap is $20.49 billion. Altice USA Inc has a one year low of $30.30 and a one year high of $35.29. The company has a 50-day moving average of $32.19 and a 200 day moving average of $32.19.

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ATUS has been the subject of several analyst reports. Pivotal Research initiated coverage on shares of Altice USA in a research note on Thursday, June 22nd. They issued a “buy” rating and a $38.00 target price for the company. Guggenheim initiated coverage on shares of Altice USA in a report on Wednesday, July 12th. They issued a “buy” rating and a $38.00 price target for the company. Royal Bank Of Canada initiated coverage on shares of Altice USA in a report on Monday, July 17th. They issued an “outperform” rating and a $40.00 price target for the company. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Altice USA in a report on Monday, July 17th. They issued a “neutral” rating and a $33.00 price target for the company. Finally, Barclays PLC initiated coverage on shares of Altice USA in a report on Monday, July 17th. They issued an “equal weight” rating and a $32.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $36.42.

In other news, SVP Victoria Mink purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was acquired at an average price of $30.00 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the senior vice president now directly owns 37,502 shares in the company, valued at approximately $1,125,060. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Bc European Capital Ix Ltd sold 36,197,360 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $29.01, for a total value of $1,050,085,413.60. The disclosure for this sale can be found here. In the last 90 days, insiders bought 74,000 shares of company stock valued at $2,220,000.

About Altice USA

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

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