Hsbc Holdings PLC Buys 10,139 Shares of Altice USA, Inc. $ATUS

Hsbc Holdings PLC raised its stake in shares of Altice USA, Inc. (NYSE:ATUS) by 11.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 99,025 shares of the company’s stock after purchasing an additional 10,139 shares during the quarter. Hsbc Holdings PLC’s holdings in Altice USA were worth $263,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ATUS. Raymond James Financial Inc. bought a new position in shares of Altice USA during the 4th quarter worth about $30,000. Dimensional Fund Advisors LP increased its holdings in shares of Altice USA by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,734,589 shares of the company’s stock worth $4,180,000 after purchasing an additional 24,375 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Altice USA by 605.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 49,301 shares of the company’s stock valued at $119,000 after acquiring an additional 42,316 shares in the last quarter. Northern Trust Corp boosted its position in shares of Altice USA by 15.2% during the 4th quarter. Northern Trust Corp now owns 703,178 shares of the company’s stock valued at $1,695,000 after acquiring an additional 92,521 shares in the last quarter. Finally, Algert Global LLC boosted its position in shares of Altice USA by 36.3% during the 4th quarter. Algert Global LLC now owns 870,737 shares of the company’s stock valued at $2,098,000 after acquiring an additional 231,732 shares in the last quarter. Institutional investors own 54.85% of the company’s stock.

Altice USA Trading Down 2.7%

Shares of Altice USA stock opened at $2.34 on Friday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.03 and a beta of 1.56. Altice USA, Inc. has a 1-year low of $1.88 and a 1-year high of $3.20. The firm’s 50-day moving average price is $2.43 and its two-hundred day moving average price is $2.44.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.15). The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. As a group, equities research analysts predict that Altice USA, Inc. will post -0.24 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Altice USA from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. The Goldman Sachs Group assumed coverage on shares of Altice USA in a research report on Tuesday. They set a “sell” rating and a $2.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.00.

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.