Assenagon Asset Management S.A. Reduces Stock Holdings in Altice USA, Inc. (NYSE:ATUS)

Assenagon Asset Management S.A. lowered its position in Altice USA, Inc. (NYSE:ATUS) by 96.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,791 shares of the company’s stock after selling 863,387 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Altice USA were worth $74,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Empyrean Capital Partners LP grew its stake in shares of Altice USA by 785.0% during the fourth quarter. Empyrean Capital Partners LP now owns 17,700,000 shares of the company’s stock valued at $42,657,000 after buying an additional 15,700,000 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Altice USA by 238.7% during the 4th quarter. JPMorgan Chase & Co. now owns 6,444,193 shares of the company’s stock worth $15,531,000 after acquiring an additional 4,541,359 shares during the last quarter. Bracebridge Capital LLC lifted its stake in shares of Altice USA by 35.5% during the 4th quarter. Bracebridge Capital LLC now owns 8,854,977 shares of the company’s stock valued at $21,340,000 after buying an additional 2,322,337 shares in the last quarter. Apollo Management Holdings L.P. lifted its stake in shares of Altice USA by 21.9% during the 4th quarter. Apollo Management Holdings L.P. now owns 12,192,050 shares of the company’s stock valued at $29,383,000 after buying an additional 2,192,050 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its holdings in Altice USA by 331.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 2,539,489 shares of the company’s stock valued at $6,120,000 after acquiring an additional 1,950,437 shares during the last quarter. Institutional investors own 54.85% of the company’s stock.

Altice USA Stock Down 1.2%

ATUS opened at $2.00 on Friday. The company has a market cap of $933.06 million, a price-to-earnings ratio of -5.87 and a beta of 1.61. Altice USA, Inc. has a 52-week low of $1.52 and a 52-week high of $3.20. The firm’s fifty day simple moving average is $2.35 and its two-hundred day simple moving average is $2.53.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business posted ($0.05) earnings per share. Altice USA’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, research analysts forecast that Altice USA, Inc. will post -0.24 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on ATUS. Barclays upped their price target on shares of Altice USA from $2.00 to $3.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. The Goldman Sachs Group upped their price target on shares of Altice USA from $2.00 to $2.25 and gave the company a “sell” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Altice USA has a consensus rating of “Hold” and a consensus price target of $2.75.

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.