Altice USA, Inc. (NYSE:ATUS) Stock Holdings Boosted by Paloma Partners Management Co

Paloma Partners Management Co boosted its position in Altice USA, Inc. (NYSE:ATUS) by 172.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,210,941 shares of the company’s stock after buying an additional 1,400,000 shares during the quarter. Paloma Partners Management Co’s holdings in Altice USA were worth $5,439,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new position in Altice USA during the 2nd quarter worth $25,000. D.A. Davidson & CO. bought a new stake in shares of Altice USA during the third quarter valued at about $32,000. US Bancorp DE lifted its holdings in Altice USA by 30.2% in the third quarter. US Bancorp DE now owns 21,530 shares of the company’s stock worth $53,000 after purchasing an additional 5,000 shares during the period. Swedbank AB bought a new position in Altice USA in the 1st quarter valued at about $66,000. Finally, nVerses Capital LLC acquired a new position in Altice USA during the 3rd quarter valued at about $74,000. 54.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now directly owns 38,055,771 shares in the company, valued at approximately $932,366,389.50. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 8,052,270 shares of company stock valued at $197,280,615. 52.90% of the stock is currently owned by corporate insiders.

Altice USA Stock Performance

NYSE ATUS opened at $2.41 on Monday. Altice USA, Inc. has a 1 year low of $1.52 and a 1 year high of $3.66. The business’s fifty day moving average is $2.48 and its two-hundred day moving average is $2.19. The stock has a market capitalization of $1.11 billion, a P/E ratio of -6.51 and a beta of 1.52.

Altice USA (NYSE:ATUS) last announced its earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. On average, research analysts forecast that Altice USA, Inc. will post -0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, TD Cowen lowered their price objective on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Altice USA currently has an average rating of “Hold” and a consensus price target of $2.22.

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.