Algert Global LLC Purchases 321,618 Shares of Altice USA, Inc. (NYSE:ATUS)

Algert Global LLC grew its stake in Altice USA, Inc. (NYSE:ATUS - Free Report) by 101.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 639,005 shares of the company's stock after buying an additional 321,618 shares during the quarter. Algert Global LLC owned 0.14% of Altice USA worth $1,572,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC bought a new stake in Altice USA in the 2nd quarter valued at approximately $25,000. US Bancorp DE lifted its position in shares of Altice USA by 30.2% in the third quarter. US Bancorp DE now owns 21,530 shares of the company's stock worth $53,000 after purchasing an additional 5,000 shares in the last quarter. Swedbank AB acquired a new position in Altice USA during the first quarter worth $66,000. nVerses Capital LLC bought a new position in Altice USA in the third quarter valued at $74,000. Finally, Mackenzie Financial Corp acquired a new stake in Altice USA in the 2nd quarter valued at $81,000. Institutional investors own 54.85% of the company's stock.

Altice USA Trading Down 7.3 %

NYSE:ATUS traded down $0.19 on Friday, hitting $2.41. The company's stock had a trading volume of 2,859,196 shares, compared to its average volume of 3,495,110. Altice USA, Inc. has a one year low of $1.52 and a one year high of $3.66. The stock has a fifty day moving average of $2.48 and a two-hundred day moving average of $2.19. The firm has a market capitalization of $1.11 billion, a P/E ratio of -6.51 and a beta of 1.52.

Altice USA (NYSE:ATUS - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm posted $0.15 EPS. The business's quarterly revenue was down 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Altice USA, Inc. will post -0.01 EPS for the current year.

Insider Transactions at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now owns 21,146,004 shares in the company, valued at $518,077,098. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 8,052,270 shares of company stock valued at $197,280,615. 52.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ATUS shares. UBS Group cut Altice USA from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $4.00 to $2.00 in a report on Friday, August 2nd. TD Cowen decreased their price target 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 equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Altice USA has an average rating of "Hold" and a consensus price target of $2.22.

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.