Altice USA (NYSE:ATUS) Upgraded by Raymond James to “Outperform” Rating

Raymond James upgraded shares of Altice USA (NYSE:ATUS) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday morning, MarketBeat reports. Raymond James currently has $3.50 target price on the stock.

Several other research analysts have also issued reports on ATUS. Citigroup raised their price target on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. TD Cowen decreased their price objective on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.41.

Altice USA Stock Performance

ATUS stock opened at $2.88 on Tuesday. The company has a market capitalization of $1.33 billion, a P/E ratio of -7.77 and a beta of 1.52. The company has a fifty day moving average price of $2.66 and a 200-day moving average price of $2.39. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.20.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). As a group, sell-side analysts forecast that Altice USA will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the sale, the director now owns 19,535,550 shares in the company, valued at approximately $478,620,975. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 8,052,288 shares of company stock worth $197,281,056. 52.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Altice USA

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning boosted its position in Altice USA by 64.1% in the third quarter. Creative Planning now owns 57,616 shares of the company’s stock worth $142,000 after purchasing an additional 22,497 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Altice USA during the 3rd quarter worth $74,000. US Bancorp DE boosted its holdings in shares of Altice USA by 30.2% in the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock worth $53,000 after buying an additional 5,000 shares during the last quarter. GSA Capital Partners LLP bought a new position in Altice USA during the third quarter valued at about $157,000. Finally, LMR Partners LLP increased its holdings in Altice USA by 217.5% during the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after buying an additional 2,055,000 shares during the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.