Altice USA, Inc. (NYSE:ATUS) Stock Position Decreased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 36.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,590,020 shares of the company's stock after selling 2,079,467 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.78% of Altice USA worth $8,831,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ATUS. LMR Partners LLP boosted its position in Altice USA by 217.5% during the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company's stock worth $7,380,000 after purchasing an additional 2,055,000 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Altice USA in the 3rd quarter valued at $157,000. US Bancorp DE boosted its stake in Altice USA by 30.2% in the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company's stock worth $53,000 after buying an additional 5,000 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Altice USA during the 3rd quarter worth $74,000. Finally, Creative Planning increased its position in Altice USA by 64.1% during the 3rd quarter. Creative Planning now owns 57,616 shares of the company's stock worth $142,000 after purchasing an additional 22,497 shares in the last quarter. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction on Monday, October 28th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the transaction, the director now directly owns 38,055,771 shares in the company, valued at $932,366,389.50. The trade was a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 8,052,270 shares of company stock valued at $197,280,615. Insiders own 52.90% of the company's stock.

Analysts Set New Price Targets

ATUS has been the topic of several analyst reports. TD Cowen dropped their target price on Altice USA from $6.00 to $3.50 and set a "buy" rating on the stock in a report on Tuesday, November 5th. UBS Group downgraded shares of Altice USA from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $2.22.

Altice USA Trading Up 3.8 %

Shares of Altice USA stock traded up $0.10 during trading hours on Wednesday, reaching $2.61. The company's stock had a trading volume of 1,728,750 shares, compared to its average volume of 3,497,875. Altice USA, Inc. has a one year low of $1.52 and a one year high of $3.66. The company's 50 day simple moving average is $2.47 and its 200 day simple moving average is $2.18.

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

About Altice USA

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.