Altice USA, Inc. (NYSE:ATUS) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its position in Altice USA, Inc. (NYSE:ATUS) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,183,739 shares of the company’s stock after selling 134,615 shares during the period. AQR Capital Management LLC owned 0.47% of Altice USA worth $4,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ATUS. Massachusetts Financial Services Co. MA raised its position 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 worth $11,566,000 after buying an additional 24,501 shares during the last quarter. King Street Capital Management L.P. purchased a new position in shares of Altice USA during the second quarter worth $5,100,000. Apollo Management Holdings L.P. lifted its position in Altice USA by 4.6% during 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 purchasing an additional 100,000 shares during the period. CastleKnight Management LP boosted its holdings in Altice USA by 676.6% in the fourth quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock valued at $4,744,000 after purchasing an additional 1,271,734 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Altice USA in the first quarter valued at $1,914,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Price Performance

Altice USA stock opened at $2.41 on Friday. Altice USA, Inc. has a 12 month low of $1.52 and a 12 month high of $3.66. The stock has a market capitalization of $1.11 billion, a PE ratio of 241.00, a price-to-earnings-growth ratio of 2.71 and a beta of 1.53. The business has a 50 day simple moving average of $2.00 and a 200-day simple moving average of $2.11.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the company posted $0.17 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Altice USA, Inc. will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

ATUS has been the subject of several analyst reports. Evercore ISI decreased their price objective on Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. UBS Group downgraded 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 report on Friday, August 2nd. Finally, The Goldman Sachs Group started coverage on shares of Altice USA in a research note on Monday, July 1st. They set a “sell” rating and a $2.00 price objective on the stock. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1.97.

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.