Charles Schwab Investment Management Inc. Buys 85,936 Shares of Altice USA, Inc. (NYSE:ATUS)

Charles Schwab Investment Management Inc. grew its position in shares of Altice USA, Inc. (NYSE:ATUS) by 6.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,402,316 shares of the company’s stock after acquiring an additional 85,936 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.30% of Altice USA worth $3,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Altice USA by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock valued at $11,566,000 after acquiring an additional 24,501 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Altice USA in the second quarter worth $25,000. XTX Topco Ltd boosted its position in Altice USA by 112.1% in the second quarter. XTX Topco Ltd now owns 81,314 shares of the company’s stock worth $166,000 after purchasing an additional 42,975 shares during the last quarter. King Street Capital Management L.P. bought a new position in Altice USA in the 2nd quarter valued at $5,100,000. Finally, Aristeia Capital L.L.C. purchased a new stake in shares of Altice USA during the 2nd quarter valued at $657,000. Institutional investors own 54.85% of the company’s stock.

Altice USA Stock Up 2.7 %

ATUS opened at $2.68 on Friday. The firm has a 50-day moving average price of $2.51 and a 200-day moving average price of $2.21. Altice USA, Inc. has a twelve month low of $1.52 and a twelve month high of $3.66. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -7.24 and a beta of 1.53.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.13). The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. On average, sell-side analysts expect that Altice USA, Inc. will post -0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ATUS. Citigroup boosted their price target on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen dropped their target price on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Altice USA has an average rating of “Hold” and a consensus price target of $2.30.

Insider Activity

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the sale, the director now directly owns 38,860,998 shares of the company’s stock, valued at approximately $952,094,451. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 12,078,411 shares of company stock worth $295,921,070. 52.90% of the stock is owned by corporate insiders.

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.