Bridgefront Capital LLC Invests $183,000 in Altice USA, Inc. (NYSE:ATUS)

Bridgefront Capital LLC purchased a new position in shares of Altice USA, Inc. (NYSE:ATUS – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 31,323 shares of the company’s stock, valued at approximately $183,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ATUS. AlphaCrest Capital Management LLC boosted its holdings in Altice USA by 204.8% in the third quarter. AlphaCrest Capital Management LLC now owns 220,451 shares of the company’s stock valued at $1,285,000 after acquiring an additional 148,133 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Altice USA by 116.6% during the third quarter. Hsbc Holdings PLC now owns 418,083 shares of the company’s stock worth $2,440,000 after purchasing an additional 225,053 shares during the period. Engineers Gate Manager LP raised its position in shares of Altice USA by 969.4% during the third quarter. Engineers Gate Manager LP now owns 172,169 shares of the company’s stock worth $1,004,000 after purchasing an additional 156,069 shares during the period. Luminus Management LLC acquired a new position in shares of Altice USA during the third quarter worth approximately $3,056,000. Finally, Oak Thistle LLC acquired a new position in shares of Altice USA during the third quarter worth approximately $220,000. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ATUS has been the topic of a number of research reports. TD Securities lowered their target price on Altice USA from $6.00 to $4.75 and set a “hold” rating on the stock in a research report on Thursday, February 23rd. Barclays lowered their price target on Altice USA from $4.00 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, February 23rd. New Street Research lowered Altice USA from a “buy” rating to a “neutral” rating in a research report on Thursday, December 1st. Cowen lowered their price target on Altice USA from $21.00 to $18.00 in a research report on Thursday, February 23rd. Finally, Bank of America started coverage on Altice USA in a research note on Thursday, December 8th. They issued an “underperform” rating and a $3.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Altice USA has a consensus rating of “Hold” and a consensus target price of $8.96.

Altice USA Price Performance

ATUS opened at $3.38 on Friday. The stock’s 50 day simple moving average is $4.44 and its 200 day simple moving average is $5.34. Altice USA, Inc. has a 1 year low of $3.34 and a 1 year high of $13.17. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 1.35 and a beta of 1.37.

Altice USA (NYSE:ATUS – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.65). The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.40 billion. Altice USA had a negative return on equity of 51.00% and a net margin of 2.02%. Altice USA’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 earnings per share. As a group, sell-side analysts anticipate that Altice USA, Inc. will post 0.18 EPS for the current year.

Altice USA Company Profile

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Altice USA, Inc engages in the provision of broadband, pay television, telephony services, proprietary content, and advertising services. Its brands include Optimum, Suddenlink, Optimum Mobile, Altice Business, News 12 Networks, Cheddar News, a4 Advertising, and i24 News. The company was founded by Patrick Drahi in 2001 and is headquartered in Long Island City, NY.