Altice USA, Inc. (NYSE:ATUS) Stock Position Boosted by Bracebridge Capital LLC

Bracebridge Capital LLC lifted its position in Altice USA, Inc. (NYSE:ATUS - Free Report) by 35.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,854,977 shares of the company's stock after purchasing an additional 2,322,337 shares during the quarter. Altice USA accounts for about 1.5% of Bracebridge Capital LLC's holdings, making the stock its 6th largest holding. Bracebridge Capital LLC owned approximately 1.92% of Altice USA worth $21,340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ATUS. LPL Financial LLC bought a new stake in shares of Altice USA in the 4th quarter worth approximately $25,000. Raymond James Financial Inc. purchased a new stake in shares of Altice USA in the fourth quarter worth about $30,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Altice USA in the 4th quarter valued at about $43,000. Arrowstreet Capital Limited Partnership bought a new position in Altice USA during the fourth quarter valued at $103,000. Finally, KLP Kapitalforvaltning AS bought a new position in Altice USA in the 4th quarter valued at $105,000. 54.85% of the stock is owned by institutional investors.

Altice USA Price Performance

NYSE ATUS traded up $0.08 during trading hours on Thursday, reaching $2.36. The company's stock had a trading volume of 2,978,277 shares, compared to its average volume of 3,198,592. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.20. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -10.26 and a beta of 1.65. The company's 50-day moving average is $2.55 and its two-hundred day moving average is $2.57.

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

Wall Street Analyst Weigh In

Separately, Raymond James raised shares of Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 price objective for the company in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Altice USA currently has an average rating of "Hold" and a consensus price target of $2.50.

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.