US Bancorp DE Raises Stock Position in Altice USA, Inc. (NYSE:ATUS)

US Bancorp DE lifted its position in shares of Altice USA, Inc. (NYSE:ATUS) by 30.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,530 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. US Bancorp DE’s holdings in Altice USA were worth $53,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ATUS. SG Americas Securities LLC lifted its position in shares of Altice USA by 45.2% in the first quarter. SG Americas Securities LLC now owns 58,098 shares of the company’s stock valued at $152,000 after acquiring an additional 18,080 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Altice USA during the first quarter worth about $687,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Altice USA by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 460,585 shares of the company’s stock valued at $1,193,000 after purchasing an additional 53,158 shares during the period. Alpine Global Management LLC purchased a new position in shares of Altice USA in the 1st quarter worth $65,000. Finally, Apollo Management Holdings L.P. boosted its holdings in Altice USA by 4.6% in the first quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock valued at $5,955,000 after acquiring an additional 100,000 shares during the last quarter. Institutional investors and hedge funds own 54.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ATUS. UBS Group downgraded shares of 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 research note on Friday, August 2nd. TD Cowen lowered their target price on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.22.

Altice USA Price Performance

Shares of NYSE ATUS opened at $2.47 on Monday. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.66. The business’s fifty day moving average price is $2.41 and its two-hundred day moving average price is $2.16. The firm has a market capitalization of $1.14 billion, a PE ratio of -6.68, a P/E/G ratio of 49.18 and a beta of 1.52.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data 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). The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. Altice USA’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Equities research analysts expect that Altice USA, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the transaction, the director now owns 38,055,771 shares in the company, valued at approximately $932,366,389.50. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 6,441,816 shares of company stock valued at $157,824,492. Corporate insiders own 52.90% of the company’s stock.

Altice USA Company 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.