Assenagon Asset Management S.A. Decreases Stake in Altice USA, Inc. (NYSE:ATUS)

Assenagon Asset Management S.A. trimmed its holdings in shares of Altice USA, Inc. (NYSE:ATUS) by 59.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 891,178 shares of the company’s stock after selling 1,293,978 shares during the quarter. Assenagon Asset Management S.A. owned 0.19% of Altice USA worth $2,148,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC purchased a new stake in Altice USA during the 2nd quarter worth approximately $25,000. XTX Topco Ltd grew its position in shares of Altice USA by 112.1% during the second quarter. XTX Topco Ltd now owns 81,314 shares of the company’s stock worth $166,000 after buying an additional 42,975 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Altice USA in the second quarter worth $183,000. Empyrean Capital Partners LP acquired a new stake in Altice USA in the second quarter valued at $4,080,000. Finally, Mackenzie Financial Corp bought a new position in Altice USA during the 2nd quarter valued at $81,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

Altice USA Stock Up 0.9 %

Shares of ATUS stock opened at $2.83 on Thursday. The company has a market cap of $1.30 billion, a P/E ratio of -7.63 and a beta of 1.50. The business has a 50 day moving average of $2.53 and a two-hundred day moving average of $2.26. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.18.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. Altice USA’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 EPS. Analysts expect that Altice USA, Inc. will post -0.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ATUS shares. Citigroup boosted their target price on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. TD Cowen lowered their price objective on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.30.

Insider Buying and Selling at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,230 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $24.50, for a total value of $19,728,135.00. Following the sale, the director now owns 6,651,882 shares in the company, valued at approximately $162,971,109. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 15,299,331 shares of company stock worth $374,833,610. 52.90% of the stock is owned by insiders.

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.