GSA Capital Partners LLP Takes $157,000 Position in Altice USA, Inc. (NYSE:ATUS)

GSA Capital Partners LLP bought a new position in shares of Altice USA, Inc. (NYSE:ATUS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 64,022 shares of the company’s stock, valued at approximately $157,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. King Street Capital Management L.P. bought a new stake in Altice USA in the 2nd quarter valued at $5,100,000. Empyrean Capital Partners LP purchased a new stake in shares of Altice USA in the second quarter worth about $4,080,000. Aristeia Capital L.L.C. purchased a new position in Altice USA during the 2nd quarter valued at approximately $657,000. State Board of Administration of Florida Retirement System bought a new stake in Altice USA in the 1st quarter worth approximately $687,000. Finally, Point72 Asset Management L.P. boosted its position in shares of Altice USA by 265.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 150,000 shares of the company’s stock valued at $306,000 after acquiring an additional 109,000 shares during the last quarter. Institutional investors own 54.85% of the company’s stock.

Altice USA Stock Performance

Shares of NYSE ATUS opened at $2.59 on Monday. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.66. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -7.00, a PEG ratio of 51.57 and a beta of 1.52. The business’s 50 day moving average price is $2.45 and its 200-day moving average price is $2.17.

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). The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. Sell-side analysts predict that Altice USA, Inc. will post 0.01 earnings per share for the current year.

Insider Activity at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the sale, the director now directly owns 38,055,771 shares in the company, valued at $932,366,389.50. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 7,247,043 shares of company stock worth $177,552,554 in the last 90 days. 52.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ATUS shares. UBS Group downgraded 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 dropped their price target on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research report 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 company’s stock. According to MarketBeat, Altice USA has a consensus rating of “Hold” and an average target price of $2.22.

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.