Altice USA, Inc. (NYSE:ATUS) Stock Position Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in shares of Altice USA, Inc. (NYSE:ATUS) by 59.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 891,178 shares of the company’s stock after selling 1,293,978 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Altice USA were worth $2,148,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

ATUS has been the subject of a number of research reports. Citigroup increased their price target on Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. TD Cowen decreased their target price on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research note 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.30.

Altice USA Stock Up 0.9 %

Shares of Altice USA stock opened at $2.83 on Thursday. Altice USA, Inc. has a 12-month low of $1.52 and a 12-month high of $3.18. The firm has a market capitalization of $1.30 billion, a PE ratio of -7.63 and a beta of 1.50. The stock’s fifty day moving average is $2.53 and its 200-day moving average is $2.26.

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

Insider Activity

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction 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 transaction, the director now owns 38,055,771 shares in the company, valued at approximately $932,366,389.50. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 15,299,331 shares of company stock worth $374,833,610 over the last 90 days. 52.90% of the stock is owned by company 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.