Altice USA, Inc. (NYSE:ATUS) Stock Position Lessened by Axa S.A.

Axa S.A. reduced its stake in shares of Altice USA, Inc. (NYSE:ATUS) by 72.1% during the second quarter, Holdings Channel.com reports. The firm owned 28,200 shares of the company’s stock after selling 73,000 shares during the period. Axa S.A.’s holdings in Altice USA were worth $58,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in Altice USA in the second quarter worth approximately $25,000. Quadrature Capital Ltd acquired a new stake in shares of Altice USA in the fourth quarter valued at $47,000. Headlands Technologies LLC bought a new position in Altice USA during the first quarter valued at about $46,000. SG Americas Securities LLC grew its holdings in Altice USA by 45.2% during the first quarter. SG Americas Securities LLC now owns 58,098 shares of the company’s stock worth $152,000 after acquiring an additional 18,080 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Altice USA by 1.6% in the fourth quarter. Allianz Asset Management GmbH now owns 1,500,079 shares of the company’s stock worth $4,875,000 after acquiring an additional 23,557 shares in the last quarter. 54.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ATUS has been the subject of several research reports. Evercore ISI reduced their price objective on shares of Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. UBS Group cut shares of Altice USA from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $4.00 to $2.00 in a report on Friday, August 2nd. Finally, The Goldman Sachs Group started coverage on Altice USA in a report on Monday, July 1st. They issued a “sell” rating and a $2.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $1.97.

Altice USA Price Performance

ATUS stock opened at $2.47 on Thursday. The company’s 50 day simple moving average is $1.96 and its 200-day simple moving average is $2.12. Altice USA, Inc. has a 52-week low of $1.52 and a 52-week high of $3.66. The firm has a market capitalization of $1.14 billion, a P/E ratio of 247.00, a P/E/G ratio of 2.71 and a beta of 1.51.

Altice USA (NYSE:ATUS) last released its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. Altice USA’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 EPS. Sell-side analysts predict that Altice USA, Inc. will post 0.1 EPS for the current fiscal year.

Altice USA Company Profile

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.