Mitsubishi UFJ Trust & Banking Corp Decreases Holdings in Altice USA, Inc. (NYSE:ATUS)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Altice USA, Inc. (NYSE:ATUSGet Rating) by 9.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 88,030 shares of the company’s stock after selling 9,515 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Altice USA were worth $814,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Herold Advisors Inc. purchased a new stake in Altice USA during the 1st quarter valued at $25,000. Deseret Mutual Benefit Administrators increased its stake in shares of Altice USA by 69.5% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 2,841 shares of the company’s stock worth $26,000 after purchasing an additional 1,165 shares in the last quarter. Covestor Ltd increased its stake in shares of Altice USA by 798.9% in the 1st quarter. Covestor Ltd now owns 3,353 shares of the company’s stock worth $42,000 after purchasing an additional 2,980 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Altice USA by 60.3% in the 1st quarter. Quadrant Capital Group LLC now owns 6,175 shares of the company’s stock worth $77,000 after purchasing an additional 2,324 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Altice USA by 49.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 7,630 shares of the company’s stock worth $95,000 after purchasing an additional 2,521 shares in the last quarter. 56.28% of the stock is currently owned by hedge funds and other institutional investors.

Altice USA Trading Down 5.8 %

Shares of NYSE:ATUS opened at $4.23 on Monday. Altice USA, Inc. has a 12 month low of $3.94 and a 12 month high of $17.30. The company has a 50-day moving average price of $6.14 and a 200 day moving average price of $8.68. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 3.00, a PEG ratio of 0.23 and a beta of 1.47.

Altice USA (NYSE:ATUSGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.45 billion. Altice USA had a negative return on equity of 119.88% and a net margin of 6.52%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 EPS. As a group, equities analysts forecast that Altice USA, Inc. will post 1.2 EPS for the current year.

Analyst Upgrades and Downgrades

ATUS has been the subject of several analyst reports. New Street Research upgraded Altice USA from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, August 3rd. The Goldman Sachs Group reduced their price objective on Altice USA from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, November 4th. JPMorgan Chase & Co. reduced their price objective on Altice USA from $12.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. Cowen cut their price target on Altice USA from $39.00 to $31.00 in a research note on Thursday, November 3rd. Finally, Barclays cut their price target on Altice USA from $12.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, September 29th. Fourteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.26.

Insiders Place Their Bets

In other Altice USA news, Director Charles Stewart sold 31,560 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $9.99, for a total value of $315,284.40. Following the completion of the sale, the director now owns 1,323,925 shares of the company’s stock, valued at $13,226,010.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 52.60% of the stock is owned by insiders.

About Altice USA

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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 approximately five million 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.

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Institutional Ownership by Quarter for Altice USA (NYSE:ATUS)

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