Aristeia Capital L.L.C. Makes New $657,000 Investment in Altice USA, Inc. (NYSE:ATUS)

Aristeia Capital L.L.C. bought a new stake in shares of Altice USA, Inc. (NYSE:ATUS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 322,061 shares of the company’s stock, valued at approximately $657,000. Aristeia Capital L.L.C. owned approximately 0.07% of Altice USA at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ATUS. Victory Capital Management Inc. grew its holdings in Altice USA by 38.1% in the fourth quarter. Victory Capital Management Inc. now owns 31,185 shares of the company’s stock worth $101,000 after purchasing an additional 8,600 shares during the period. Aigen Investment Management LP grew its stake in shares of Altice USA by 51.1% in the 4th quarter. Aigen Investment Management LP now owns 33,140 shares of the company’s stock worth $108,000 after buying an additional 11,205 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Altice USA during the 2nd quarter valued at approximately $25,000. Quadrature Capital Ltd purchased a new position in Altice USA during the fourth quarter valued at $47,000. Finally, Headlands Technologies LLC bought a new stake in Altice USA in the first quarter worth $46,000. 54.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ATUS has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on Altice USA in a report on Monday, July 1st. They set a “sell” rating and a $2.00 price target for the company. Evercore ISI decreased their target price on shares of Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Finally, UBS Group cut shares of Altice USA from a “buy” rating to a “neutral” rating and cut their price target for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Six 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $1.97.

Altice USA Trading Down 3.7 %

Shares of ATUS stock opened at $2.11 on Tuesday. Altice USA, Inc. has a 12-month low of $1.52 and a 12-month high of $3.66. The stock has a market capitalization of $970.52 million, a P/E ratio of 211.00, a P/E/G ratio of 2.49 and a beta of 1.51. The firm’s 50 day moving average is $1.87 and its 200 day moving average is $2.12.

Altice USA (NYSE:ATUS) last released its quarterly 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). Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the business earned $0.17 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts predict that Altice USA, Inc. will post 0.1 earnings per share for the current 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.