Altice USA (NYSE:ATUS) Stock Price Up 4.6%

Altice USA, Inc. (NYSE:ATUS)’s share price rose 4.6% during mid-day trading on Monday . The company traded as high as $2.16 and last traded at $2.15. Approximately 179,129 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 3,935,906 shares. The stock had previously closed at $2.05.

Wall Street Analyst Weigh In

ATUS has been the subject of a number of research analyst reports. Wells Fargo & Company cut shares of Altice USA from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $2.00 to $1.00 in a report on Friday, April 5th. BNP Paribas cut shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 target price for the company. in a report on Tuesday, April 9th. Benchmark reiterated a “buy” rating and issued a $5.00 price target on shares of Altice USA in a research report on Wednesday, March 20th. Evercore ISI reiterated an “in-line” rating and issued a $3.00 price target on shares of Altice USA in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Altice USA has an average rating of “Hold” and a consensus price target of $2.68.

Altice USA Price Performance

The stock’s 50-day moving average is $2.41 and its 200-day moving average is $2.47. The stock has a market cap of $880.31 million, a price-to-earnings ratio of 16.08 and a beta of 1.35.

Altice USA (NYSE:ATUS) last announced its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the business posted ($0.43) EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Analysts predict that Altice USA, Inc. will post 0.24 EPS for the current fiscal year.

Institutional Trading of Altice USA

A number of hedge funds have recently bought and sold shares of ATUS. Assenagon Asset Management S.A. boosted its position in Altice USA by 79.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,884,841 shares of the company’s stock worth $12,626,000 after acquiring an additional 1,724,851 shares during the last quarter. CastleKnight Management LP raised its stake in Altice USA by 676.6% during the fourth quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock worth $4,744,000 after purchasing an additional 1,271,734 shares during the period. Hudson Bay Capital Management LP raised its stake in Altice USA by 18.5% during the third quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock worth $17,240,000 after purchasing an additional 823,530 shares during the period. LB Partners LLC purchased a new position in Altice USA during the fourth quarter worth approximately $1,636,000. Finally, Thompson Siegel & Walmsley LLC raised its stake in Altice USA by 6.1% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 6,850,472 shares of the company’s stock worth $22,264,000 after purchasing an additional 396,275 shares during the period. Institutional investors and hedge funds own 54.85% of the company’s stock.

Altice USA Company 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.