CANADA LIFE ASSURANCE Co Reduces Holdings in Altice USA, Inc. (NYSE:ATUS)

CANADA LIFE ASSURANCE Co decreased its holdings in Altice USA, Inc. (NYSE:ATUS) by 34.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,360 shares of the company’s stock after selling 11,036 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Altice USA were worth $52,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in ATUS. LPL Financial LLC bought a new stake in shares of Altice USA during the fourth quarter valued at approximately $25,000. Raymond James Financial Inc. purchased a new stake in Altice USA in the 4th quarter worth about $30,000. Dynamic Technology Lab Private Ltd purchased a new stake in Altice USA in the 4th quarter worth about $43,000. Arrowstreet Capital Limited Partnership purchased a new stake in Altice USA in the 4th quarter worth about $103,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Altice USA in the 4th quarter worth about $105,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Stock Up 0.4 %

Shares of ATUS stock opened at $2.47 on Thursday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -10.74 and a beta of 1.65. Altice USA, Inc. has a 52-week low of $1.52 and a 52-week high of $3.20. The company’s 50 day moving average is $2.51 and its 200 day moving average is $2.57.

Altice USA (NYSE:ATUS) last announced its earnings results on Thursday, February 13th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). Analysts anticipate that Altice USA, Inc. will post -0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Raymond James raised shares of Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 target price on the stock in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Altice USA presently has an average rating of “Hold” and an average price target of $2.67.

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.