Honeycomb Asset Management LP bought a new stake in Altice USA Inc (NYSE:ATUS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 550,000 shares of the company’s stock, valued at approximately $11,676,000. Altice USA makes up approximately 1.5% of Honeycomb Asset Management LP’s investment portfolio, making the stock its 20th biggest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ATUS. Lucerne Capital Management LP purchased a new position in Altice USA in the fourth quarter valued at about $129,721,000. BlackRock Inc. grew its stake in Altice USA by 161.5% in the fourth 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 in the last quarter. Lakewood Capital Management LP purchased a new position in Altice USA in the fourth quarter valued at about $34,913,000. Simcoe Capital Management LLC purchased a new position in Altice USA in the fourth quarter valued at about $31,344,000. Finally, Pelham Capital Ltd. grew its stake in Altice USA by 54.9% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 15.89% of the company’s stock.
A number of research analysts have commented on the company. Barclays upgraded Altice USA from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $22.00 to $26.00 in a research note on Tuesday, January 23rd. Royal Bank of Canada decreased their price target on Altice USA from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, November 14th. Pivotal Research reiterated a “buy” rating and set a $28.00 price target on shares of Altice USA in a research note on Tuesday, January 9th. Zacks Investment Research upgraded Altice USA from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on Altice USA from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, March 6th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Altice USA currently has an average rating of “Buy” and an average target price of $31.71.
Altice USA (NYSE:ATUS) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.09) earnings per share (EPS) for the quarter. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. sell-side analysts predict that Altice USA Inc will post 0.13 earnings per share for the current fiscal year.
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Altice USA 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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