Empyrean Capital Partners LP Invests $4.08 Million in Altice USA, Inc. (NYSE:ATUS)

Empyrean Capital Partners LP purchased a new position in shares of Altice USA, Inc. (NYSE:ATUS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,000,000 shares of the company’s stock, valued at approximately $4,080,000. Empyrean Capital Partners LP owned 0.43% of Altice USA at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC bought a new position in Altice USA in the 2nd quarter valued at $25,000. Headlands Technologies LLC bought a new position in shares of Altice USA in the first quarter worth about $46,000. Quadrature Capital Ltd purchased a new position in Altice USA in the 4th quarter worth about $47,000. Alpine Global Management LLC bought a new stake in Altice USA during the 1st quarter valued at about $65,000. Finally, Swedbank AB purchased a new stake in Altice USA in the 1st quarter valued at about $66,000. 54.85% of the stock is currently owned by institutional investors.

Altice USA Trading Up 1.0 %

Shares of NYSE ATUS opened at $2.47 on Thursday. Altice USA, Inc. has a 12-month low of $1.52 and a 12-month high of $3.66. The stock’s fifty day simple moving average is $1.88 and its two-hundred day simple moving average is $2.12. The stock has a market capitalization of $1.14 billion, a PE ratio of 246.50, a price-to-earnings-growth ratio of 2.71 and a beta of 1.51.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.25 billion. Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. Altice USA’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. On average, equities analysts predict that Altice USA, Inc. will post 0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ATUS has been the topic of a number of research reports. UBS Group lowered shares of Altice USA from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. The Goldman Sachs Group initiated coverage on Altice USA in a report on Monday, July 1st. They set a “sell” rating and a $2.00 price objective on the stock. Finally, Evercore ISI lowered their target price on Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Six research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $1.97.

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.