Marshall Wace LLP Sells 741,678 Shares of Altice USA, Inc. (NYSE:ATUS)

Marshall Wace LLP trimmed its holdings in Altice USA, Inc. (NYSE:ATUS) by 74.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 260,600 shares of the company’s stock after selling 741,678 shares during the quarter. Marshall Wace LLP owned approximately 0.06% of Altice USA worth $532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC bought a new position in Altice USA in the 2nd quarter worth approximately $25,000. Headlands Technologies LLC purchased a new stake in shares of Altice USA during the 1st quarter worth approximately $46,000. Quadrature Capital Ltd purchased a new stake in shares of Altice USA during the 4th quarter worth approximately $47,000. Alpine Global Management LLC purchased a new stake in shares of Altice USA during the 1st quarter worth approximately $65,000. Finally, Swedbank AB purchased a new stake in shares of Altice USA during the 1st quarter worth approximately $66,000. 54.85% of the stock is currently owned by institutional investors.

Altice USA Stock Performance

Altice USA stock opened at $2.46 on Thursday. The stock has a 50-day moving average of $2.01 and a two-hundred day moving average of $2.11. Altice USA, Inc. has a one year low of $1.52 and a one year high of $3.66. The stock has a market cap of $1.13 billion, a PE ratio of 246.00, a price-to-earnings-growth ratio of 2.71 and a beta of 1.53.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data 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). 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 in the previous year, the business earned $0.17 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Altice USA, Inc. will post 0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Altice USA 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.