Geode Capital Management LLC Grows Holdings in Altice USA, Inc. (NYSE:ATUS)

Geode Capital Management LLC boosted its holdings in shares of Altice USA, Inc. (NYSE:ATUS) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,682,757 shares of the company’s stock after purchasing an additional 191,508 shares during the period. Geode Capital Management LLC owned approximately 0.58% of Altice USA worth $6,602,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its stake in Altice USA by 0.4% during the 2nd 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 during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Altice USA in the 2nd quarter valued at $25,000. XTX Topco Ltd raised its position in Altice USA by 112.1% during the 2nd quarter. XTX Topco Ltd now owns 81,314 shares of the company’s stock worth $166,000 after buying an additional 42,975 shares during the last quarter. King Street Capital Management L.P. acquired a new stake in shares of Altice USA in the 2nd quarter worth $5,100,000. Finally, Aristeia Capital L.L.C. purchased a new stake in shares of Altice USA in the second quarter valued at about $657,000. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,230 shares of Altice USA stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the transaction, the director now directly owns 14,704,182 shares of the company’s stock, valued at $360,252,459. The trade was a 5.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 15,299,331 shares of company stock worth $374,833,610 in the last ninety days. Insiders own 52.90% of the company’s stock.

Altice USA Stock Up 3.4 %

Shares of ATUS stock opened at $2.45 on Friday. The stock has a market cap of $1.13 billion, a P/E ratio of -6.62 and a beta of 1.53. The business has a fifty day simple moving average of $2.53 and a 200-day simple moving average of $2.21. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.19.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.09) EPS 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 analyst estimates of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. On average, sell-side analysts anticipate that Altice USA, Inc. will post -0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup raised their price objective on shares of Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. TD Cowen reduced their price target on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.30.

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.