LMR Partners LLP Grows Position in Altice USA, Inc. (NYSE:ATUS)

LMR Partners LLP boosted its stake in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 217.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,000,000 shares of the company's stock after buying an additional 2,055,000 shares during the quarter. LMR Partners LLP owned 0.65% of Altice USA worth $7,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds 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 in the 2nd quarter valued at $25,000. US Bancorp DE boosted its holdings in shares of Altice USA by 30.2% in the 3rd 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 period. Alpine Global Management LLC acquired a new position in shares of Altice USA in the 1st quarter valued at about $65,000. Swedbank AB acquired a new position in shares of Altice USA in the 1st quarter valued at about $66,000. Finally, nVerses Capital LLC acquired a new position in shares of Altice USA in the 3rd quarter valued at about $74,000. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ATUS has been the subject of a number of analyst reports. TD Cowen reduced their target price 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. UBS Group lowered shares of Altice USA from a "buy" rating to a "neutral" rating and cut their price target for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.22.

Insiders Place Their Bets

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 stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the sale, the director now directly owns 38,055,771 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Insiders sold a total of 6,441,816 shares of company stock valued at $157,824,492 over the last ninety days. 52.90% of the stock is currently owned by company insiders.

Altice USA Trading Up 0.4 %

Shares of Altice USA stock traded up $0.01 during mid-day trading on Tuesday, reaching $2.38. 1,172,674 shares of the stock were exchanged, compared to its average volume of 3,504,815. The firm has a 50-day simple moving average of $2.42 and a 200 day simple moving average of $2.16. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.66.

Altice USA (NYSE:ATUS - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.13). The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. Research analysts expect that Altice USA, Inc. will post 0.01 earnings per share for the current fiscal year.

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.