Stock analysts at Citigroup Inc. initiated coverage on shares of Altice USA Inc (NASDAQ:ATUS) in a research note issued on Monday, July 17th, Marketbeat reports. The firm set a “buy” rating and a $44.00 price target on the stock. Citigroup Inc.’s price objective would indicate a potential upside of 35.47% from the stock’s current price.
ATUS has been the subject of a number of other reports. Morgan Stanley assumed coverage on shares of Altice USA in a report on Monday, July 17th. They set an “equal weight” rating and a $31.00 price objective for the company. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Altice USA in a research note on Monday, July 17th. They issued a “neutral” rating and a $33.00 price target for the company. Pivotal Research assumed coverage on shares of Altice USA in a research note on Thursday, June 22nd. They issued a “buy” rating and a $38.00 price target for the company. J P Morgan Chase & Co began coverage on shares of Altice USA in a research note on Monday, July 17th. They issued an “overweight” rating and a $39.00 price target for the company. Finally, Guggenheim began coverage on shares of Altice USA in a research report on Wednesday, July 12th. They issued a “buy” rating and a $38.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $36.42.
Altice USA (NASDAQ:ATUS) opened at 32.48 on Monday. The firm’s market capitalization is $21.41 billion. The firm has a 50-day moving average price of $32.28 and a 200 day moving average price of $32.28. Altice USA has a 12 month low of $30.66 and a 12 month high of $35.29.
In related news, major shareholder Bc European Capital Ix Ltd sold 36,197,360 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $29.01, for a total transaction of $1,050,085,413.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Abdelhakim Boubazine acquired 65,000 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were bought at an average price of $30.00 per share, for a total transaction of $1,950,000.00. Following the transaction, the insider now owns 937,544 shares of the company’s stock, valued at $28,126,320. The disclosure for this purchase can be found here. In the last quarter, insiders bought 74,000 shares of company stock worth $2,220,000.
A number of hedge funds have recently made changes to their positions in the stock. Pelham Capital Ltd. bought a new position in Altice USA during the second quarter worth about $53,295,000. Coronation Fund Managers Ltd. bought a new position in Altice USA during the second quarter worth about $780,000. SG Americas Securities LLC bought a new position in Altice USA during the second quarter worth about $666,000. TD Asset Management Inc. bought a new position in Altice USA during the second quarter worth about $656,000. Finally, Sei Investments Co. bought a new position in Altice USA during the second quarter worth about $4,370,000.
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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