Altice USA, Inc. (NYSE:ATUS) Shares Bought by Algert Global LLC

Algert Global LLC lifted its position in shares of Altice USA, Inc. (NYSE:ATUS) by 101.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 639,005 shares of the company’s stock after acquiring an additional 321,618 shares during the quarter. Algert Global LLC owned 0.14% of Altice USA worth $1,572,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ATUS. King Street Capital Management L.P. purchased a new stake in shares of Altice USA during the 2nd quarter worth about $5,100,000. LMR Partners LLP boosted its stake in shares of Altice USA by 217.5% during the 3rd quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after acquiring an additional 2,055,000 shares in the last quarter. Empyrean Capital Partners LP purchased a new stake in shares of Altice USA during the 2nd quarter worth about $4,080,000. Aristeia Capital L.L.C. purchased a new position in Altice USA in the 2nd quarter valued at about $657,000. Finally, Point72 Asset Management L.P. lifted its stake in Altice USA by 265.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 150,000 shares of the company’s stock valued at $306,000 after buying an additional 109,000 shares in the last quarter. 54.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ATUS shares. UBS Group lowered shares of Altice USA from a “buy” rating to a “neutral” rating and decreased their price target for the company from $4.00 to $2.00 in a research note on Friday, August 2nd. TD Cowen decreased their price target on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Altice USA has an average rating of “Hold” and a consensus price target of $2.22.

Altice USA Price Performance

ATUS opened at $2.60 on Friday. The company’s 50 day simple moving average is $2.48 and its two-hundred day simple moving average is $2.19. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.66. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -7.03, a price-to-earnings-growth ratio of 50.97 and a beta of 1.52.

Altice USA (NYSE:ATUS) last released its earnings results on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business earned $0.15 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities analysts anticipate that Altice USA, Inc. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the sale, the director now owns 38,055,771 shares in the company, valued at $932,366,389.50. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 8,052,270 shares of company stock valued at $197,280,615 in the last ninety days. 52.90% of the stock is currently owned by corporate insiders.

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.