Pictet Asset Management SA Trims Holdings in Altice USA, Inc. (NYSE:ATUS)

Pictet Asset Management SA decreased its stake in shares of Altice USA, Inc. (NYSE:ATUSGet Rating) by 26.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,610 shares of the company’s stock after selling 5,522 shares during the quarter. Pictet Asset Management SA’s holdings in Altice USA were worth $144,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ATUS. GSA Capital Partners LLP increased its stake in Altice USA by 95.9% during the first quarter. GSA Capital Partners LLP now owns 33,403 shares of the company’s stock worth $417,000 after acquiring an additional 16,352 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Altice USA by 1.6% during the first quarter. Treasurer of the State of North Carolina now owns 77,282 shares of the company’s stock worth $964,000 after acquiring an additional 1,218 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Altice USA by 12.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 886,662 shares of the company’s stock worth $8,202,000 after acquiring an additional 100,532 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in Altice USA by 41.6% during the first quarter. Qube Research & Technologies Ltd now owns 510,476 shares of the company’s stock worth $6,371,000 after acquiring an additional 149,944 shares during the last quarter. Finally, Swiss National Bank increased its stake in Altice USA by 6.5% during the first quarter. Swiss National Bank now owns 508,600 shares of the company’s stock worth $6,347,000 after acquiring an additional 31,100 shares during the last quarter. Hedge funds and other institutional investors own 56.28% of the company’s stock.

Altice USA Stock Up 6.3 %

Shares of ATUS stock opened at $4.70 on Friday. The stock has a market capitalization of $2.14 billion, a PE ratio of 3.33, a price-to-earnings-growth ratio of 0.25 and a beta of 1.47. Altice USA, Inc. has a 52-week low of $3.94 and a 52-week high of $17.30. The stock’s 50-day moving average price is $5.82 and its 200 day moving average price is $8.57.

Altice USA (NYSE:ATUSGet Rating) last released its earnings results 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). Altice USA had a negative return on equity of 119.88% and a net margin of 6.52%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. Analysts expect that Altice USA, Inc. will post 1.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Altice USA news, Director Charles Stewart sold 31,560 shares of the business’s 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 transaction, the director now owns 1,323,925 shares in the company, valued at approximately $13,226,010.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 52.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ATUS. Citigroup raised Altice USA from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $12.00 to $8.00 in a research note on Thursday, October 13th. The Goldman Sachs Group dropped 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. dropped 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. Wells Fargo & Company lifted their target price on Altice USA from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, August 4th. Finally, Morgan Stanley decreased their target price on Altice USA from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, November 4th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Altice USA presently has an average rating of “Hold” and an average price target of $11.95.

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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