Allianz Asset Management GmbH Buys Shares of 270,452 Altice USA, Inc. $ATUS

Allianz Asset Management GmbH bought a new stake in Altice USA, Inc. (NYSE:ATUS) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 270,452 shares of the company’s stock, valued at approximately $579,000. Allianz Asset Management GmbH owned approximately 0.06% of Altice USA at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ATUS. HG Vora Capital Management LLC acquired a new position in Altice USA in the 1st quarter valued at about $12,502,000. Deutsche Bank AG grew its position in Altice USA by 33.9% in the 1st quarter. Deutsche Bank AG now owns 12,761,956 shares of the company’s stock valued at $33,947,000 after acquiring an additional 3,231,838 shares in the last quarter. Empyrean Capital Partners LP boosted its stake in shares of Altice USA by 13.6% in the 1st quarter. Empyrean Capital Partners LP now owns 20,100,000 shares of the company’s stock valued at $53,466,000 after buying an additional 2,400,000 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Altice USA by 46.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,397,047 shares of the company’s stock valued at $17,016,000 after buying an additional 2,031,971 shares during the period. Finally, Carronade Capital Management LP boosted its stake in shares of Altice USA by 58.5% in the 1st quarter. Carronade Capital Management LP now owns 5,396,030 shares of the company’s stock valued at $14,353,000 after buying an additional 1,992,262 shares during the period. 54.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ATUS has been the subject of several recent research reports. Zacks Research cut Altice USA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Altice USA in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group initiated coverage on Altice USA in a research note on Tuesday, September 2nd. They issued a “sell” rating and a $2.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Altice USA has a consensus rating of “Hold” and a consensus target price of $3.00.

Altice USA Stock Up 0.2%

ATUS stock opened at $2.19 on Tuesday. The business has a 50 day moving average price of $2.41 and a 200 day moving average price of $2.39. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -3.77 and a beta of 1.59. Altice USA, Inc. has a fifty-two week low of $1.95 and a fifty-two week high of $3.20.

Altice USA (NYSE:ATUS) last posted its earnings results 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 company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.03 EPS. As a group, sell-side analysts anticipate that Altice USA, Inc. will post -0.24 EPS for the current year.

Altice USA 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.