Altice USA (NYSE:ATUS) Shares Down 4.6%

Altice USA, Inc. (NYSE:ATUS)’s stock price traded down 4.6% during trading on Monday . The stock traded as low as $2.08 and last traded at $2.08. 416,925 shares were traded during mid-day trading, a decline of 90% from the average session volume of 4,250,208 shares. The stock had previously closed at $2.18.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group decreased their price objective on shares of Altice USA from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Wells Fargo & Company downgraded shares of Altice USA from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $2.00 to $1.00 in a research note on Friday, April 5th. Evercore ISI restated an “in-line” rating and issued a $3.00 price target on shares of Altice USA in a research note on Tuesday, March 26th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Altice USA in a research note on Thursday. Finally, BNP Paribas downgraded shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target on the stock. in a research note on Tuesday, April 9th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.90.

Altice USA Stock Down 6.4 %

The stock has a market capitalization of $930.48 million, a price-to-earnings ratio of 16.83 and a beta of 1.35. The business’s 50 day simple moving average is $2.44 and its 200-day simple moving average is $2.57.

Altice USA (NYSE:ATUS) last posted its earnings results on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.29 billion. Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company posted ($0.43) EPS. On average, analysts expect that Altice USA, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Altice USA by 79.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,884,841 shares of the company’s stock worth $12,626,000 after acquiring an additional 1,724,851 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of Altice USA in the third quarter worth about $1,006,000. Hudson Bay Capital Management LP raised its holdings in Altice USA by 18.5% in the 3rd quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock valued at $17,240,000 after buying an additional 823,530 shares during the last quarter. Aigen Investment Management LP bought a new position in Altice USA in the 3rd quarter valued at approximately $72,000. Finally, Rafferty Asset Management LLC raised its holdings in Altice USA by 44.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 242,938 shares of the company’s stock valued at $794,000 after buying an additional 75,280 shares during the last quarter. Institutional investors own 54.85% of the company’s stock.

About Altice USA

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.