LMR Partners LLP Raises Stock Holdings in Altice USA, Inc. (NYSE:ATUS)

LMR Partners LLP grew its stake in shares of Altice USA, Inc. (NYSE:ATUS) by 217.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,000,000 shares of the company’s stock after buying an additional 2,055,000 shares during the period. LMR Partners LLP owned 0.65% of Altice USA worth $7,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ATUS. GSA Capital Partners LLP bought a new position in shares of Altice USA in the third quarter worth about $157,000. US Bancorp DE grew its holdings in Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after buying an additional 5,000 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Altice USA during the third quarter valued at approximately $74,000. Creative Planning lifted its holdings in shares of Altice USA by 64.1% in the third quarter. Creative Planning now owns 57,616 shares of the company’s stock worth $142,000 after buying an additional 22,497 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Altice USA by 102.2% in the third quarter. Handelsbanken Fonder AB now owns 36,000 shares of the company’s stock worth $89,000 after buying an additional 18,200 shares in the last quarter. 54.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were 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 38,055,771 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 document filed with the SEC, which can be accessed through the SEC website. Insiders sold 6,441,816 shares of company stock worth $157,824,492 in the last 90 days. 52.90% of the stock is owned by corporate insiders.

Altice USA Price Performance

Shares of NYSE:ATUS opened at $2.38 on Tuesday. The firm has a market capitalization of $1.10 billion, a PE ratio of -6.42, a price-to-earnings-growth ratio of 49.18 and a beta of 1.52. The business has a 50 day simple moving average of $2.42 and a two-hundred day simple moving average of $2.16. Altice USA, Inc. has a 1 year low of $1.52 and a 1 year high of $3.66.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.09) 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 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%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. Equities research analysts expect that Altice USA, Inc. will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on ATUS. UBS Group cut shares of Altice USA from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. TD Cowen lowered 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 investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Altice USA presently has an average rating of “Hold” and a consensus price target of $2.22.

Altice USA 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.