Morgan Stanley Initiates Coverage on Altice USA Inc (NASDAQ:ATUS)

Morgan Stanley began coverage on shares of Altice USA Inc (NASDAQ:ATUS) in a research report issued to clients and investors on Monday, July 17th, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $31.00 price target on the stock. Morgan Stanley’s target price suggests a potential downside of 4.56% from the stock’s previous close.

Other analysts have also issued reports about the company. Guggenheim started coverage on Altice USA in a research report on Wednesday, July 12th. They issued a “buy” rating and a $38.00 price objective for the company. Pivotal Research initiated coverage on Altice USA in a report on Thursday, June 22nd. They set a “buy” rating and a $38.00 target price on the stock. Barclays PLC initiated coverage on Altice USA in a report on Monday, July 17th. They set an “equal weight” rating and a $32.00 target price on the stock. Goldman Sachs Group, Inc. (The) initiated coverage on Altice USA in a report on Monday, July 17th. They set a “neutral” rating and a $33.00 price objective on the stock. Finally, Bank of America Corporation started coverage on Altice USA in a report on Monday, July 17th. They set a “neutral” rating and a $36.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Altice USA has a consensus rating of “Buy” and an average target price of $36.42.

Altice USA (NASDAQ:ATUS) opened at 32.48 on Monday. Altice USA has a one year low of $30.66 and a one year high of $35.29. The firm’s market capitalization is $21.41 billion. The stock has a 50 day moving average of $32.28 and a 200 day moving average of $32.28.

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In other news, Vice Chairman Lisa Rosenblum bought 3,000 shares of the stock in a transaction on Tuesday, June 27th. The stock was acquired at an average price of $30.00 per share, with a total value of $90,000.00. Following the acquisition, the insider now directly owns 18,751 shares in the company, valued at $562,530. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Victoria Mink bought 1,000 shares of the stock in a transaction on Tuesday, June 27th. The stock was purchased at an average cost of $30.00 per share, with a total value of $30,000.00. Following the acquisition, the senior vice president now owns 37,502 shares in the company, valued at $1,125,060. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 74,000 shares of company stock valued at $2,220,000.

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Altice USA during the second quarter valued at approximately $666,000. LMR Partners LLP purchased a new position in shares of Altice USA during the second quarter valued at about $1,776,000. Canada Pension Plan Investment Board purchased a new position in shares of Altice USA during the second quarter valued at about $1,296,928,000. TD Asset Management Inc. purchased a new position in shares of Altice USA during the second quarter valued at about $656,000. Finally, Sei Investments Co. purchased a new position in shares of Altice USA during the second quarter valued at about $4,370,000.

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.