Charles Schwab Investment Management Inc. Grows Holdings in Altice USA, Inc. (NYSE:ATUS)

Charles Schwab Investment Management Inc. grew its stake in shares of Altice USA, Inc. (NYSE:ATUS) by 6.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,402,316 shares of the company’s stock after buying an additional 85,936 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Altice USA were worth $3,450,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Aristeia Capital L.L.C. purchased a new stake in shares of Altice USA in the 2nd quarter valued at $657,000. King Street Capital Management L.P. bought a new stake in Altice USA in the second quarter worth $5,100,000. Empyrean Capital Partners LP purchased a new stake in Altice USA during the second quarter valued at about $4,080,000. LMR Partners LLP grew its stake in shares of Altice USA by 217.5% during 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 during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Altice USA in the second quarter worth about $183,000. 54.85% of the stock is owned by institutional investors.

Altice USA Stock Performance

NYSE ATUS opened at $2.68 on Friday. The stock has a market cap of $1.24 billion, a P/E ratio of -7.24 and a beta of 1.53. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.66. The stock has a 50 day simple moving average of $2.51 and a two-hundred day simple moving average of $2.21.

Altice USA (NYSE:ATUS) last announced its earnings results on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. Altice USA’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 EPS. Sell-side analysts predict that Altice USA, Inc. will post -0.01 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup increased their target price on Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a report on Wednesday. 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 research report on Tuesday, November 5th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Altice USA has a consensus rating of “Hold” and a consensus target price of $2.30.

Insiders Place Their Bets

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the sale, the director now directly owns 38,055,771 shares in the company, valued at $932,366,389.50. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 12,078,411 shares of company stock worth $295,921,070. 52.90% of the stock is currently owned by corporate insiders.

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.