Federated Hermes Inc. Has $9.10 Million Stake in Altice USA, Inc. (NYSE:ATUS)

Federated Hermes Inc. decreased its stake in Altice USA, Inc. (NYSE:ATUS) by 2.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,799,589 shares of the company’s stock after selling 78,290 shares during the period. Federated Hermes Inc.’s holdings in Altice USA were worth $9,099,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Cerity Partners LLC acquired a new stake in Altice USA in the 4th quarter valued at $197,000. LB Partners LLC acquired a new stake in Altice USA in the 4th quarter valued at $1,636,000. Assenagon Asset Management S.A. boosted its stake in Altice USA by 79.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,884,841 shares of the company’s stock valued at $12,626,000 after buying an additional 1,724,851 shares in the last quarter. Hudson Bay Capital Management LP boosted its stake in Altice USA by 18.5% in 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 in the last quarter. Finally, Aristeia Capital LLC acquired a new position in Altice USA in the third quarter worth $95,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Evercore ISI reissued an “in-line” rating and issued a $3.00 price objective on shares of Altice USA in a research note on Tuesday, March 26th. BNP Paribas lowered Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price objective on the stock. in a research note on Tuesday, April 9th. Benchmark reissued a “buy” rating and issued a $5.00 price objective on shares of Altice USA in a research note on Wednesday, March 20th. Bank of America assumed coverage on Altice USA in a research note on Wednesday. They issued an “underperform” rating and a $1.50 price objective on the stock. Finally, UBS Group reduced their price objective on Altice USA from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.68.

Altice USA Stock Up 2.6 %

ATUS stock opened at $1.96 on Thursday. The company has a market cap of $893.99 million, a P/E ratio of 16.33 and a beta of 1.35. Altice USA, Inc. has a twelve month low of $1.75 and a twelve month high of $3.82. The business has a fifty day moving average of $2.42 and a 200-day moving average of $2.51.

Altice USA (NYSE:ATUS) last released its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.29 billion. Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.43) EPS. As a group, equities research analysts anticipate that Altice USA, Inc. will post 0.19 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.