Clarkston Capital Partners LLC Decreases Stake in Altice USA, Inc. (NYSE:ATUS)

Clarkston Capital Partners LLC lowered its stake in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 97.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 890,000 shares of the company's stock after selling 30,353,434 shares during the quarter. Clarkston Capital Partners LLC owned about 0.19% of Altice USA worth $2,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new stake in shares of Altice USA during the 3rd quarter valued at $157,000. US Bancorp DE raised its stake in Altice USA by 30.2% in 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 last quarter. nVerses Capital LLC purchased a new stake in shares of Altice USA during the third quarter worth about $74,000. Creative Planning increased its holdings in shares of Altice USA by 64.1% during the third quarter. Creative Planning now owns 57,616 shares of the company's stock valued at $142,000 after acquiring an additional 22,497 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Altice USA by 102.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 36,000 shares of the company's stock valued at $89,000 after purchasing an additional 18,200 shares during the last quarter. Hedge funds and other institutional investors own 54.85% of the company's stock.

Insider Buying and Selling at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the sale, the director now owns 38,055,771 shares of the company's stock, valued at $932,366,389.50. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 6,441,816 shares of company stock valued at $157,824,492. Company insiders own 52.90% of the company's stock.

Altice USA Stock Down 3.8 %

Shares of NYSE:ATUS traded down $0.10 during trading on Monday, hitting $2.38. 2,646,445 shares of the stock traded hands, compared to its average volume of 3,515,273. The company has a fifty day moving average price of $2.41 and a two-hundred day moving average price of $2.16. Altice USA, Inc. has a 52-week low of $1.52 and a 52-week high of $3.66. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -6.68, a P/E/G ratio of 49.18 and a beta of 1.52.

Altice USA (NYSE:ATUS - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the company posted $0.15 EPS. The company's revenue was down 3.9% on a year-over-year basis. On average, equities research analysts predict that Altice USA, Inc. will post 0.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on ATUS shares. TD Cowen lowered their price target on Altice USA from $6.00 to $3.50 and set a "buy" rating for the company in a research report on Tuesday, November 5th. UBS Group downgraded shares of Altice USA from a "buy" rating to a "neutral" rating and cut their price target for the stock from $4.00 to $2.00 in a report on Friday, August 2nd. Five analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Altice USA has a consensus rating of "Hold" and an average 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.