140 Summer Partners LP Makes New Investment in Altice USA, Inc. (NYSE:ATUS)

140 Summer Partners LP purchased a new stake in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,660,200 shares of the company's stock, valued at approximately $9,004,000. Altice USA makes up 1.0% of 140 Summer Partners LP's investment portfolio, making the stock its 17th largest position. 140 Summer Partners LP owned approximately 0.79% of Altice USA at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Altice USA in the 2nd quarter worth approximately $25,000. D.A. Davidson & CO. bought a new stake in Altice USA in the third quarter worth $32,000. US Bancorp DE boosted its position in Altice USA by 30.2% during the third quarter. US Bancorp DE now owns 21,530 shares of the company's stock valued at $53,000 after buying an additional 5,000 shares during the period. Swedbank AB bought a new position in shares of Altice USA during the first quarter valued at about $66,000. Finally, nVerses Capital LLC purchased a new position in shares of Altice USA in the third quarter worth about $74,000. Hedge funds and other institutional investors own 54.85% of the company's stock.

Altice USA Stock Up 3.6 %

Shares of ATUS traded up $0.09 during mid-day trading on Thursday, hitting $2.60. 1,728,750 shares of the company's stock traded hands, compared to its average volume of 3,497,875. The firm has a market capitalization of $1.20 billion, a P/E ratio of -7.04, a PEG ratio of 50.97 and a beta of 1.52. The business's 50-day moving average price is $2.47 and its 200-day moving average price is $2.18. Altice USA, Inc. has a 1 year low of $1.52 and a 1 year high of $3.66.

Altice USA (NYSE:ATUS - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.13). Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company posted $0.15 earnings per share. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Altice USA, Inc. will post 0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on ATUS. UBS Group cut Altice USA from a "buy" rating to a "neutral" rating and dropped their target price for the company from $4.00 to $2.00 in a report on Friday, August 2nd. TD Cowen dropped their price objective on Altice USA from $6.00 to $3.50 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Altice USA currently has a consensus rating of "Hold" and an average target price of $2.22.

Insiders Place Their Bets

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the transaction, the director now owns 38,055,771 shares in the company, valued at $932,366,389.50. The trade was a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 8,052,270 shares of company stock worth $197,280,615. 52.90% of the stock is currently owned by company insiders.

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.