Algert Global LLC Trims Stock Position in Altice USA, Inc. (NYSE:ATUS)

Algert Global LLC trimmed its holdings in shares of Altice USA, Inc. (NYSE:ATUS) by 17.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,387 shares of the company’s stock after selling 68,433 shares during the period. Algert Global LLC owned about 0.07% of Altice USA worth $647,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Mackenzie Financial Corp purchased a new position in Altice USA during the second quarter worth $81,000. Empyrean Capital Partners LP purchased a new stake in Altice USA during the 2nd quarter worth about $4,080,000. Squarepoint Ops LLC acquired a new position in Altice USA in the 2nd quarter valued at about $183,000. Aristeia Capital L.L.C. purchased a new position in Altice USA in the 2nd quarter valued at about $657,000. Finally, King Street Capital Management L.P. acquired a new stake in shares of Altice USA during the 2nd quarter worth about $5,100,000. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Altice USA Trading Down 1.2 %

Shares of Altice USA stock opened at $2.41 on Friday. The business’s fifty day moving average price is $2.00 and its 200 day moving average price is $2.11. Altice USA, Inc. has a twelve month low of $1.52 and a twelve month high of $3.66. The stock has a market capitalization of $1.11 billion, a P/E ratio of 241.00, a PEG ratio of 2.71 and a beta of 1.53.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of Altice USA in a research report on Monday, July 1st. They issued a “sell” rating and a $2.00 price objective for the company. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. Finally, Evercore ISI lowered their price objective on Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.