Thrivent Financial for Lutherans Decreases Stake in Altice USA, Inc. (NYSE:ATUS)

Thrivent Financial for Lutherans decreased its position in Altice USA, Inc. (NYSE:ATUS) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,881 shares of the company’s stock after selling 13,197 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of Altice USA worth $630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new position in shares of Altice USA in the 2nd quarter valued at about $25,000. Quadrature Capital Ltd purchased a new stake in Altice USA during the fourth quarter valued at approximately $47,000. Headlands Technologies LLC bought a new stake in shares of Altice USA in the 1st quarter valued at approximately $46,000. SG Americas Securities LLC boosted its holdings in shares of Altice USA by 45.2% in the 1st quarter. SG Americas Securities LLC now owns 58,098 shares of the company’s stock worth $152,000 after purchasing an additional 18,080 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Altice USA by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock worth $11,566,000 after purchasing an additional 24,501 shares during the period. 54.85% of the stock is owned by hedge funds and other institutional investors.

Altice USA Stock Performance

Shares of NYSE ATUS opened at $2.37 on Wednesday. Altice USA, Inc. has a 52-week low of $1.52 and a 52-week high of $3.66. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 237.00, a PEG ratio of 2.71 and a beta of 1.53. The stock has a 50 day moving average price of $2.01 and a 200 day moving average price of $2.11.

Altice USA (NYSE:ATUS) last issued its earnings results 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 analysts’ expectations of $2.25 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. Altice USA’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 earnings per share. Analysts forecast that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on ATUS. UBS Group lowered 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. Evercore ISI lowered their target price on shares of Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group started coverage on shares of Altice USA in a report on Monday, July 1st. They set a “sell” rating and a $2.00 price target 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. According to MarketBeat.com, Altice USA presently has an average rating of “Hold” and a consensus target price of $1.97.

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.