Walleye Capital LLC Takes Position in Altice USA, Inc. (NYSE:ATUS)

Walleye Capital LLC acquired a new stake in shares of Altice USA, Inc. (NYSE:ATUSGet Rating) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 15,015 shares of the company’s stock, valued at approximately $139,000.

A number of other large investors have also recently made changes to their positions in ATUS. Herold Advisors Inc. purchased a new position in shares of Altice USA during the 1st quarter valued at about $25,000. Deseret Mutual Benefit Administrators raised its stake in Altice USA by 69.5% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 2,841 shares of the company’s stock valued at $26,000 after purchasing an additional 1,165 shares during the period. Covestor Ltd raised its stake in Altice USA by 798.9% during the 1st quarter. Covestor Ltd now owns 3,353 shares of the company’s stock valued at $42,000 after purchasing an additional 2,980 shares during the period. Quadrant Capital Group LLC raised its stake in Altice USA by 60.3% during the 1st quarter. Quadrant Capital Group LLC now owns 6,175 shares of the company’s stock valued at $77,000 after purchasing an additional 2,324 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in 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 acquiring an additional 2,521 shares during the last quarter. 56.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Altice USA news, Director Charles Stewart sold 31,560 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $9.99, for a total transaction of $315,284.40. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. 52.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ATUS has been the topic of a number of research reports. The Goldman Sachs Group reduced their price objective on Altice USA from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. Credit Suisse Group dropped their price objective on Altice USA from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. Royal Bank of Canada dropped their price objective on Altice USA from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. Benchmark dropped their price objective on Altice USA to $14.00 in a report on Thursday, October 27th. Finally, HSBC upgraded Altice USA from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Friday, November 4th. Fourteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.26.

Altice USA Trading Down 5.8 %

Shares of ATUS stock opened at $4.23 on Monday. The company has a market capitalization of $1.92 billion, a P/E ratio of 3.00, a P/E/G ratio of 0.23 and a beta of 1.47. The business’s 50 day moving average is $6.14 and its two-hundred day moving average is $8.68. Altice USA, Inc. has a 12-month low of $3.94 and a 12-month high of $17.30.

Altice USA (NYSE:ATUSGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Altice USA had a negative return on equity of 119.88% and a net margin of 6.52%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 EPS. On average, research analysts predict that Altice USA, Inc. will post 1.2 earnings per share for the current fiscal year.

About Altice USA

(Get Rating)

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.

See Also

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

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