Assenagon Asset Management S.A. Has $5.38 Million Stake in Altice USA, Inc. (NYSE:ATUS)

Assenagon Asset Management S.A. reduced its stake in shares of Altice USA, Inc. (NYSE:ATUS) by 50.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,185,156 shares of the company’s stock after selling 2,261,073 shares during the period. Assenagon Asset Management S.A. owned about 0.48% of Altice USA worth $5,375,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC purchased a new position in Altice USA during the second quarter worth about $25,000. Headlands Technologies LLC bought a new position in shares of Altice USA during the 1st quarter worth approximately $46,000. Alpine Global Management LLC bought a new position in shares of Altice USA during the 1st quarter worth approximately $65,000. Swedbank AB purchased a new position in shares of Altice USA in the 1st quarter worth approximately $66,000. Finally, nVerses Capital LLC bought a new position in shares of Altice USA in the third quarter valued at approximately $74,000. 54.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the sale, the director now owns 38,055,771 shares in the company, valued at $932,366,389.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 53.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ATUS. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $4.00 to $2.00 in a report on Friday, August 2nd. Evercore ISI lowered their target price on Altice USA from $3.00 to $2.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. Six research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $1.97.

Altice USA Stock Performance

ATUS stock opened at $2.59 on Wednesday. The stock has a fifty day moving average of $2.23 and a 200-day moving average of $2.10. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.66. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 259.00, a PEG ratio of 3.27 and a beta of 1.53.

Altice USA (NYSE:ATUS) last posted its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the business earned $0.17 EPS. Altice USA’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts predict that Altice USA, Inc. will post 0.1 EPS for the current year.

About Altice USA

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.