BlackRock Fund Advisors recently announced the acquisition of new stake in Altice USA Inc. (NYSE:ATUS). The institutional investor has increased its shareholding in the Communication Services company by 10.39% to 12.87 million shares with purchase of 1.21 million shares. This fresh investment now brings its stake to 2.23% valued currently at $347.48 million. In addition, Capital Research & Management Co.. raised its holdings by 952.0 to 12.35 million shares. And Palestra Capital Management LLC has lifted its position by 20.71% or 1.83 million shares – to 10.67 million shares.
With over 4.24 million Altice USA Inc. (ATUS) shares trading Tuesday and a closing price of $27.67 on the day, the dollar volume was approximately $117.39 million. The shares have shown a positive weekly performance of 4.42% and its price on 09/01/20 gained nearly 0.33%. Currently, there are 587.59M common shares owned by the public and among those 280.27M shares have been available to trade.
Incidentally, analysts’ outlook for the Altice USA Inc. stock is 2.00 for the next 12 months.
Insiders at the company have transacted a total of 43 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 16,624,606 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 30,824,286 shares.
The top 3 mutual fund holders in Altice USA Inc. are Canada Pension Plan, American Funds Capital World Grow, and Vanguard Total Stock Market Index. Canada Pension Plan owns 28.89 million shares of the company’s stock, all valued at over $779.69 million. The company sold -13.38 million shares recently to bring their total holdings to about 5.00% of the shares outstanding. Vanguard Total Stock Market Index sold 34275.0 shares to bring its total holdings to over 8.03 million shares at a value of $216.77 million. Vanguard Total Stock Market Index now owns shares totaling to 1.39% of the shares outstanding.
Shares of Altice USA Inc. (NYSE: ATUS) opened at $27.64, up $0.06 from a prior closing price of $27.58. However, the script later closed the day at $27.67, up 0.33%. The company’s stock has a 5-day price change of 4.42% and 5.89% over the past three months. ATUS shares are trading 1.21% year to date (YTD), with the 12-month market performance down to -3.42% lower. It has a 12-month low price of $15.95 and touched a high of $31.78 over the same period. Currently, 4.24 million shares have been traded, compared to an average intraday trading volume of 5.66 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.55%, 9.15%, and 8.28% respectively.
Institutional ownership of Altice USA Inc. (NYSE: ATUS) shares accounts for 62.90% of the company’s 587.59M shares outstanding. Mutual fund holders own 29.23%, while other institutional holders and individual stakeholders account for 31.84% and 26.45% respectively.
It has a market capitalization of $15.98B. The stock’s trailing 12-month PE ratio is 90.13, while the earnings-per-share (ttm) stands at $0.31. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.94% over the week and 2.19% over the month.
Analysts forecast that Altice USA Inc. (ATUS) will achieve an EPS of $0.22 for the current quarter, $0.28 for the next quarter and $1.27 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.02 while analysts give the company a high EPS estimate of $0.31. Comparatively, EPS for the current quarter was $0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 712.80%, and 87.11% over the next financial year.
Looking at the support for the ATUS, a number of firms have released research notes about the stock. TD Securities stated their Buy rating for the stock in a research note on August 04, 2020, with the firm’s price target at. HSBC Securities coverage for the Altice USA Inc. (ATUS) stock in a research note released on July 15, 2020 offered a Buy rating with a price target of $28. Bernstein was of a view on May 05, 2020 that the stock is Mkt Perform, while TD Securities gave the stock Hold rating on April 21, 2020, issuing a price target of. Pivotal Research Group on their part issued Buy rating on April 02, 2020.