Altice USA (NYSE:ATUS) Trading Down 7% - Here's What Happened

Altice USA, Inc. (NYSE:ATUS - Get Free Report) shares fell 7% during trading on Wednesday . The company traded as low as $2.03 and last traded at $2.06. 2,178,353 shares changed hands during trading, a decline of 27% from the average session volume of 2,986,998 shares. The stock had previously closed at $2.21.

Analyst Upgrades and Downgrades

Separately, Raymond James upgraded shares of Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 target price for the company in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Altice USA presently has a consensus rating of "Hold" and a consensus target price of $2.44.

Altice USA Stock Performance

The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -10.74 and a beta of 1.65. The firm's 50 day moving average is $2.64 and its 200-day moving average is $2.58.

Altice USA (NYSE:ATUS - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). As a group, research analysts predict that Altice USA, Inc. will post -0.24 EPS for the current year.

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Institutional Trading of Altice USA

Large investors have recently modified their holdings of the company. Swiss National Bank lifted its position in Altice USA by 2.0% during the 4th quarter. Swiss National Bank now owns 407,700 shares of the company's stock worth $983,000 after acquiring an additional 8,000 shares during the last quarter. LPL Financial LLC acquired a new position in shares of Altice USA during the 4th quarter worth about $25,000. Raymond James Financial Inc. bought a new stake in Altice USA during the 4th quarter valued at approximately $30,000. Geode Capital Management LLC grew its holdings in Altice USA by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,695,716 shares of the company's stock valued at $6,500,000 after buying an additional 12,959 shares during the last quarter. Finally, Wolverine Trading LLC bought a new position in Altice USA in the 3rd quarter worth approximately $39,000. 54.85% of the stock is owned by institutional investors.

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.