Legal & General Group Plc Trims Stock Holdings in Altice USA, Inc. (NYSE:ATUS)

Legal & General Group Plc lessened its stake in shares of Altice USA, Inc. (NYSE:ATUS) by 28.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,793 shares of the company’s stock after selling 76,997 shares during the quarter. Legal & General Group Plc’s holdings in Altice USA were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Altice USA during the fourth quarter worth about $43,000. ExodusPoint Capital Management LP acquired a new position in Altice USA in the 4th quarter valued at $1,007,000. Geode Capital Management LLC lifted its stake in shares of Altice USA by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,695,716 shares of the company’s stock worth $6,500,000 after purchasing an additional 12,959 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Altice USA during the fourth quarter worth $103,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Altice USA by 238.7% during the fourth quarter. JPMorgan Chase & Co. now owns 6,444,193 shares of the company’s stock worth $15,531,000 after purchasing an additional 4,541,359 shares during the last quarter. Institutional investors and hedge funds own 54.85% of the company’s stock.

Altice USA Trading Up 1.4 %

ATUS stock opened at $2.46 on Wednesday. The company has a market cap of $1.14 billion, a PE ratio of -10.67 and a beta of 1.65. The stock has a 50-day moving average price of $2.52 and a two-hundred day moving average price of $2.57. Altice USA, Inc. has a 12-month low of $1.52 and a 12-month high of $3.20.

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

Analyst Ratings Changes

Separately, Raymond James upgraded 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.67.

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.