Altice USA’s (NYSE:ATUS) lock-up period is set to expire on Tuesday, December 19th. Altice USA had issued 63,943,029 shares in its IPO on June 22nd. The total size of the offering was $1,918,290,870 based on an initial share price of $30.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.
A number of research analysts recently commented on ATUS shares. Morgan Stanley reiterated an “equal weight” rating and issued a $32.00 price target (up previously from $31.00) on shares of Altice USA in a research note on Wednesday, August 23rd. Guggenheim restated a “neutral” rating and set a $31.00 target price on shares of Altice USA in a research report on Friday, September 15th. Moffett Nathanson assumed coverage on shares of Altice USA in a research report on Tuesday, October 10th. They set a “neutral” rating and a $28.00 target price on the stock. Atlantic Securities assumed coverage on shares of Altice USA in a research report on Tuesday, October 31st. They set an “overweight” rating and a $32.00 target price on the stock. Finally, Wells Fargo & Company restated a “market perform” rating and set a $25.00 target price (down previously from $34.00) on shares of Altice USA in a research report on Monday, November 6th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $31.71.
Shares of Altice USA (NYSE ATUS) opened at $19.35 on Thursday. Altice USA has a twelve month low of $17.80 and a twelve month high of $35.29. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 6.82.
A number of large investors have recently modified their holdings of ATUS. Franklin Resources Inc. bought a new position in Altice USA in the 2nd quarter valued at approximately $69,443,000. Vanguard Group Inc. bought a new position in Altice USA in the 2nd quarter valued at approximately $67,939,000. FMR LLC bought a new position in Altice USA in the 2nd quarter valued at approximately $57,079,000. Citadel Advisors LLC bought a new position in Altice USA in the 2nd quarter valued at approximately $46,997,000. Finally, Winslow Capital Management LLC bought a new position in Altice USA in the 2nd quarter valued at approximately $46,854,000. 13.23% of the stock is owned by institutional investors and hedge funds.
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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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