Massachusetts Financial Services Co. MA Raises Holdings in Altice USA, Inc. (NYSE:ATUS)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Altice USA, Inc. (NYSE:ATUS) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,669,487 shares of the company’s stock after acquiring an additional 24,501 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.23% of Altice USA worth $11,566,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Swedbank AB purchased a new stake in shares of Altice USA during the first quarter worth about $66,000. Apollo Management Holdings L.P. lifted its holdings in shares of Altice USA by 4.6% during the first quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock worth $5,955,000 after purchasing an additional 100,000 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Altice USA during the first quarter worth about $65,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Altice USA by 13.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 460,585 shares of the company’s stock worth $1,193,000 after purchasing an additional 53,158 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Altice USA during the first quarter worth about $687,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Stock Performance

Shares of ATUS opened at $2.19 on Friday. Altice USA, Inc. has a one year low of $1.52 and a one year high of $3.66. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 219.00, a PEG ratio of 2.49 and a beta of 1.51. The stock has a 50 day moving average price of $1.86 and a 200 day moving average price of $2.13.

Altice USA (NYSE:ATUS) last issued its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). The company 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%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 earnings per share. On average, analysts predict that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ATUS shares. 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 for the company. Evercore ISI reduced their target price on Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. Finally, UBS Group downgraded 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 research note on Friday, August 2nd. Six equities 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 data from MarketBeat, Altice USA currently has a consensus rating of “Hold” and an average target price of $1.97.

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.