Altice USA Inc (ATUS) Earns Equal Weight Rating from Morgan Stanley

Altice USA Inc (NASDAQ:ATUS)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a research note issued to investors on Wednesday. They currently have a $32.00 target price on the stock, up from their previous target price of $31.00. Morgan Stanley’s price target suggests a potential upside of 4.30% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Barclays PLC initiated coverage on Altice USA in a research note on Monday, July 17th. They set an “equal weight” rating and a $32.00 price target for the company. Royal Bank Of Canada initiated coverage on Altice USA in a research note on Monday, July 17th. They set an “outperform” rating and a $40.00 price target for the company. BNP Paribas initiated coverage on Altice USA in a research note on Tuesday, July 18th. They set an “outperform” rating and a $36.00 price target for the company. Bank of America Corp initiated coverage on Altice USA in a research note on Monday, July 17th. They set a “neutral” rating and a $36.00 price target for the company. Finally, Pivotal Research reaffirmed a “buy” rating and set a $38.00 price target on shares of Altice USA in a research note on Tuesday, August 8th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $36.50.

Shares of Altice USA (NASDAQ:ATUS) traded down 0.03% during midday trading on Wednesday, hitting $30.68. 393,003 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $31.64 and its 200 day moving average price is $31.86. Altice USA has a one year low of $29.99 and a one year high of $35.29. The firm’s market cap is $22.61 billion.

In other Altice USA news, SVP Victoria Mink purchased 1,000 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were bought at an average cost of $30.00 per share, with a total value of $30,000.00. Following the transaction, the senior vice president now directly owns 37,502 shares in the company, valued at approximately $1,125,060. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bc European Capital Ix Ltd sold 36,197,360 shares of Altice USA stock in a transaction that occurred on Tuesday, June 27th. The stock was 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. Over the last ninety days, insiders acquired 74,000 shares of company stock worth $2,220,000.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in shares of Altice USA during the second quarter valued at approximately $1,296,928,000. Franklin Resources Inc. acquired a new position in shares of Altice USA during the second quarter valued at approximately $69,443,000. Vanguard Group Inc. acquired a new position in shares of Altice USA during the second quarter valued at approximately $67,939,000. Egerton Capital UK LLP acquired a new position in shares of Altice USA during the second quarter valued at approximately $64,600,000. Finally, FMR LLC acquired a new position in shares of Altice USA during the second quarter valued at approximately $57,079,000.

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.