2,500,000 Shares in Altice USA, Inc. (NYSE:ATUS) Bought by King Street Capital Management L.P.

King Street Capital Management L.P. acquired a new stake in shares of Altice USA, Inc. (NYSE:ATUS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,500,000 shares of the company’s stock, valued at approximately $5,100,000. Altice USA comprises 0.2% of King Street Capital Management L.P.’s portfolio, making the stock its 8th largest holding. King Street Capital Management L.P. owned approximately 0.54% of Altice USA as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of ATUS. Victory Capital Management Inc. boosted its holdings in shares of Altice USA by 38.1% in the 4th quarter. Victory Capital Management Inc. now owns 31,185 shares of the company’s stock valued at $101,000 after buying an additional 8,600 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Altice USA during the 4th quarter valued at approximately $84,000. Aigen Investment Management LP grew its stake in Altice USA by 51.1% in the 4th quarter. Aigen Investment Management LP now owns 33,140 shares of the company’s stock valued at $108,000 after acquiring an additional 11,205 shares during the period. RPO LLC acquired a new stake in Altice USA in the 4th quarter valued at $109,000. Finally, Allianz Asset Management GmbH grew its stake in Altice USA by 1.6% in the 4th quarter. Allianz Asset Management GmbH now owns 1,500,079 shares of the company’s stock valued at $4,875,000 after acquiring an additional 23,557 shares during the period. Institutional investors own 54.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group cut shares of Altice USA from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. Evercore ISI lowered their price target on shares of Altice USA from $3.00 to $2.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. Finally, The Goldman Sachs Group began coverage on shares of Altice USA in a report on Monday, July 1st. They issued a “sell” rating and a $2.00 price objective on the stock. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $1.97.

Altice USA Stock Down 3.9 %

Shares of ATUS stock opened at $2.19 on Monday. The stock has a market cap of $1.01 billion, a P/E ratio of 219.00, a P/E/G ratio of 2.49 and a beta of 1.51. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.66. The business has a fifty day simple moving average of $1.86 and a 200-day simple moving average of $2.13.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the business earned $0.17 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Altice USA, Inc. will post 0.1 earnings per share for the current 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.