Altice USA, Inc. (NYSE:ATUS) Stake Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in Altice USA, Inc. (NYSE:ATUS - Free Report) by 1,617.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,902,834 shares of the company's stock after purchasing an additional 1,792,054 shares during the quarter. JPMorgan Chase & Co. owned about 0.41% of Altice USA worth $4,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Altice USA during the 2nd quarter valued at about $25,000. Quadrature Capital Ltd acquired a new position in shares of Altice USA during the 3rd quarter valued at about $27,000. D.A. Davidson & CO. acquired a new position in shares of Altice USA during the 3rd quarter valued at about $32,000. Wolverine Trading LLC acquired a new position in shares of Altice USA during the 3rd quarter valued at about $39,000. Finally, US Bancorp DE increased its stake in shares of Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company's stock valued at $53,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 54.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ATUS shares. Citigroup upped their price objective on shares of Altice USA from $2.50 to $3.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. TD Cowen dropped their price objective on shares of 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 investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $2.30.

Altice USA Price Performance

NYSE ATUS traded up $0.03 on Friday, reaching $2.76. The company had a trading volume of 2,192,928 shares, compared to its average volume of 2,408,807. The firm has a market capitalization of $1.27 billion, a PE ratio of -7.45 and a beta of 1.50. Altice USA, Inc. has a 1 year low of $1.52 and a 1 year high of $3.18. The firm has a 50-day moving average of $2.53 and a 200-day moving average of $2.25.

Altice USA (NYSE:ATUS - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.24 billion. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. As a group, sell-side analysts expect that Altice USA, Inc. will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alt S.A.R.L. Next sold 805,230 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the completion of the transaction, the director now directly owns 6,651,882 shares in the company, valued at approximately $162,971,109. This represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 15,299,331 shares of company stock worth $374,833,610 in the last 90 days. 52.90% of the stock is owned by company insiders.

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.