Altice USA (NYSE:ATUS) Trading Down 7.3%

Shares of Altice USA, Inc. (NYSE:ATUS) fell 7.3% during trading on Wednesday . The company traded as low as $1.65 and last traded at $1.65. 1,102,488 shares were traded during trading, a decline of 69% from the average session volume of 3,568,371 shares. The stock had previously closed at $1.78.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on Altice USA in a research report on Monday, July 1st. They set a “sell” rating and a $2.00 target price on the stock. BNP Paribas downgraded shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price objective for the company. in a research report on Tuesday, April 9th. Evercore ISI lowered their target price on shares of Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Loop Capital cut their price target on shares of Altice USA from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Altice USA in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.27.

Altice USA Stock Performance

The business’s fifty day simple moving average is $2.15 and its 200 day simple moving average is $2.28. The stock has a market cap of $814.13 million, a price-to-earnings ratio of 176.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.49.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company posted $0.06 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. As a group, analysts forecast that Altice USA, Inc. will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATUS. Assenagon Asset Management S.A. boosted its position in shares of Altice USA by 79.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,884,841 shares of the company’s stock valued at $12,626,000 after purchasing an additional 1,724,851 shares in the last quarter. CastleKnight Management LP grew its position in Altice USA by 676.6% in the fourth quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock worth $4,744,000 after buying an additional 1,271,734 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Altice USA in the first quarter worth approximately $1,914,000. LB Partners LLC bought a new position in shares of Altice USA in the fourth quarter valued at $1,636,000. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Altice USA by 6.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 6,850,472 shares of the company’s stock valued at $22,264,000 after acquiring an additional 396,275 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors.

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.