Squarepoint Ops LLC Acquires Shares of 89,501 Altice USA, Inc. (NYSE:ATUS)

Squarepoint Ops LLC bought a new position in shares of Altice USA, Inc. (NYSE:ATUS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 89,501 shares of the company’s stock, valued at approximately $183,000.

A number of other large investors have also modified their holdings of the business. Aristeia Capital L.L.C. purchased a new stake in Altice USA in the 2nd quarter valued at $657,000. King Street Capital Management L.P. purchased a new position in Altice USA during the second quarter worth about $5,100,000. Susquehanna Fundamental Investments LLC acquired a new position in Altice USA in the 1st quarter valued at about $1,914,000. Quadrature Capital Ltd purchased a new stake in shares of Altice USA in the 4th quarter valued at approximately $47,000. Finally, Nomura Holdings Inc. increased its holdings in shares of Altice USA by 343.0% during the 4th quarter. Nomura Holdings Inc. now owns 306,009 shares of the company’s stock worth $995,000 after buying an additional 236,933 shares during the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

Altice USA Stock Down 2.4 %

NYSE:ATUS opened at $2.45 on Monday. Altice USA, Inc. has a 52-week low of $1.52 and a 52-week high of $3.66. The stock has a fifty day simple moving average of $2.04 and a 200-day simple moving average of $2.11. The company has a market capitalization of $1.13 billion, a PE ratio of 245.00, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53.

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

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.