Altice USA, Inc. (NYSE:ATUS) Shares Acquired by State Street Corp

State Street Corp boosted its holdings in Altice USA, Inc. (NYSE:ATUS) by 2.8% in the third quarter, HoldingsChannel.com reports. The firm owned 1,534,608 shares of the company’s stock after acquiring an additional 41,868 shares during the period. State Street Corp’s holdings in Altice USA were worth $3,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in ATUS. Quadrature Capital Ltd bought a new position in shares of Altice USA during the third quarter worth about $27,000. Point72 Asset Management L.P. boosted its position in Altice USA by 487.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,985 shares of the company’s stock worth $2,167,000 after acquiring an additional 730,985 shares during the period. Cerberus Capital Management L.P. grew its stake in shares of Altice USA by 6.8% in the third quarter. Cerberus Capital Management L.P. now owns 3,940,785 shares of the company’s stock worth $9,694,000 after purchasing an additional 250,000 shares in the last quarter. Paloma Partners Management Co increased its holdings in shares of Altice USA by 172.6% during the third quarter. Paloma Partners Management Co now owns 2,210,941 shares of the company’s stock valued at $5,439,000 after purchasing an additional 1,400,000 shares during the period. Finally, Verition Fund Management LLC raised its stake in shares of Altice USA by 579.7% during the third quarter. Verition Fund Management LLC now owns 624,983 shares of the company’s stock valued at $1,537,000 after purchasing an additional 533,032 shares in the last quarter. Institutional investors own 54.85% of the company’s stock.

Altice USA Price Performance

NYSE:ATUS opened at $2.34 on Tuesday. The stock has a market cap of $1.08 billion, a PE ratio of -6.32 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 $3.29. The stock’s 50-day moving average is $2.53 and its two-hundred day moving average is $2.20.

Altice USA (NYSE:ATUS) last posted its earnings results 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 business had revenue of $2.23 billion during the quarter, compared to analyst estimates 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 last year, the firm earned $0.15 earnings per share. On average, equities research analysts anticipate that Altice USA, Inc. will post -0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ATUS has been the topic of a number of recent analyst reports. Citigroup boosted their price target 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 cut their target price 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.30.

Insiders Place Their Bets

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the transaction, the director now directly owns 38,860,998 shares of the company’s stock, valued at $952,094,451. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 15,299,331 shares of company stock valued at $374,833,610 over the last 90 days. 52.90% of the stock is currently owned by company 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.