LSV Asset Management Cuts Stake in Altice USA, Inc. (NYSE:ATUS)

LSV Asset Management lessened its holdings in Altice USA, Inc. (NYSE:ATUS) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 802,500 shares of the company’s stock after selling 79,200 shares during the quarter. LSV Asset Management owned 0.18% of Altice USA worth $2,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ATUS. Assenagon Asset Management S.A. grew its holdings in shares of Altice USA by 79.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,884,841 shares of the company’s stock worth $12,626,000 after purchasing an additional 1,724,851 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of Altice USA in the third quarter valued at about $1,006,000. Hudson Bay Capital Management LP raised its stake in shares of 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 valued at $17,240,000 after acquiring an additional 823,530 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Altice USA during the third quarter worth about $72,000. Finally, Rafferty Asset Management LLC grew its stake in shares of Altice USA by 44.9% in the third quarter. Rafferty Asset Management LLC now owns 242,938 shares of the company’s stock worth $794,000 after purchasing an additional 75,280 shares during the last quarter. 54.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

ATUS has been the subject of several research analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th. Benchmark reiterated a “buy” rating and issued a $5.00 price target on shares of Altice USA in a report on Wednesday, March 20th. UBS Group decreased their price objective on shares of Altice USA from $6.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Bank of America initiated coverage on shares of Altice USA in a research note on Wednesday, April 24th. They set an “underperform” rating and a $1.50 target price on the stock. Finally, BNP Paribas downgraded shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target for the company. in a research note on Tuesday, April 9th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.41.

Altice USA Price Performance

Shares of NYSE ATUS opened at $2.10 on Friday. The firm has a 50-day moving average of $2.36 and a 200 day moving average of $2.43. Altice USA, Inc. has a 1 year low of $1.75 and a 1 year high of $3.82. The stock has a market cap of $957.85 million, a P/E ratio of 210.00 and a beta of 1.38.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business earned $0.06 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. Research analysts expect that Altice USA, Inc. will post 0.22 earnings per share for the current fiscal year.

About Altice USA

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.