UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 48,632 Shares of Altice USA, Inc. (NYSE:ATUS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Altice USA, Inc. (NYSE:ATUS) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 491,626 shares of the company’s stock after selling 48,632 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.11% of Altice USA worth $1,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ATUS. 140 Summer Partners LP acquired a new stake in Altice USA in the 3rd quarter valued at $9,004,000. King Street Capital Management L.P. purchased a new position in Altice USA during the second quarter worth about $5,100,000. LMR Partners LLP grew its stake in shares of Altice USA by 217.5% in the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock valued at $7,380,000 after buying an additional 2,055,000 shares in the last quarter. Empyrean Capital Partners LP purchased a new stake in Altice USA during the 2nd quarter worth approximately $4,080,000. Finally, Aristeia Capital L.L.C. purchased a new stake in shares of Altice USA during the second quarter worth $657,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Price Performance

Shares of ATUS opened at $2.55 on Wednesday. The firm’s 50 day moving average is $2.51 and its 200-day moving average is $2.20. The stock has a market capitalization of $1.18 billion, a P/E ratio of -6.89 and a beta of 1.53. Altice USA, Inc. has a 12-month low of $1.52 and a 12-month high of $3.66.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.13). The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. As a group, equities research analysts forecast that Altice USA, Inc. will post -0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ATUS shares. TD Cowen dropped their target price on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Citigroup increased their price target 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. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Altice USA has a consensus rating of “Hold” and a consensus price target of $2.30.

Insiders Place Their Bets

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the sale, the director now owns 38,055,771 shares in the company, valued at approximately $932,366,389.50. The trade was a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 12,883,641 shares of company stock worth $315,649,205. 52.90% of the stock is currently owned by company insiders.

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.