Point72 Asset Management L.P. Has $306,000 Stake in Altice USA, Inc. (NYSE:ATUS)

Point72 Asset Management L.P. boosted its holdings in shares of Altice USA, Inc. (NYSE:ATUS) by 265.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 150,000 shares of the company’s stock after purchasing an additional 109,000 shares during the quarter. Point72 Asset Management L.P.’s holdings in Altice USA were worth $306,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. King Street Capital Management L.P. bought a new stake in shares of Altice USA in the 2nd quarter worth approximately $5,100,000. Empyrean Capital Partners LP bought a new stake in shares of Altice USA in the 2nd quarter worth approximately $4,080,000. CastleKnight Management LP lifted its position in shares of Altice USA by 676.6% in the 4th quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock worth $4,744,000 after acquiring an additional 1,271,734 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Altice USA in the 1st quarter worth approximately $1,914,000. Finally, Aristeia Capital L.L.C. bought a new stake in shares of Altice USA in the 2nd quarter worth approximately $657,000. Institutional investors own 54.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATUS. The Goldman Sachs Group began coverage on Altice USA in a research report on Monday, July 1st. They set a “sell” rating and a $2.00 target price for the company. UBS Group downgraded Altice USA from a “buy” rating to a “neutral” rating and cut their target price for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. Finally, Evercore ISI cut their target price 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 research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Altice USA has an average rating of “Hold” and a consensus target price of $1.97.

Altice USA Price Performance

ATUS stock opened at $2.41 on Friday. The business has a fifty day moving average price of $2.00 and a 200 day moving average price of $2.11. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 241.00, a P/E/G ratio of 2.71 and a beta of 1.53. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.66.

Altice USA (NYSE:ATUS) last released its earnings results on Thursday, August 1st. The company reported $0.03 EPS 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 firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $0.17 earnings per share. On average, equities analysts expect that Altice USA, Inc. will post 0.1 earnings per share for the current fiscal year.

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.