Altice USA (NYSE:ATUS) Trading Up 7.2%

Altice USA, Inc. (NYSE:ATUS - Get Free Report)'s stock price traded up 7.2% during mid-day trading on Thursday . The stock traded as high as $2.08 and last traded at $2.08. 345,398 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 3,554,420 shares. The stock had previously closed at $1.94.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group cut 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 note on Friday, August 2nd. Evercore ISI cut their price objective on Altice USA from $3.00 to $2.00 and set an "in-line" rating for the company in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group assumed coverage on Altice USA in a report on Monday, July 1st. They issued a "sell" rating and a $2.00 price objective for the company. Six investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Altice USA presently has an average rating of "Hold" and an average target price of $1.97.

Altice USA Price Performance

The firm has a market capitalization of $952.12 million, a PE ratio of 207.00, a P/E/G ratio of 2.83 and a beta of 1.51. The firm has a fifty day moving average price of $1.83 and a 200 day moving average price of $2.16.

Altice USA (NYSE:ATUS - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The company had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same period in the prior year, the company earned $0.17 earnings per share. The company's revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts expect that Altice USA, Inc. will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Altice USA

Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its holdings in shares of Altice USA by 38.1% during the fourth quarter. Victory Capital Management Inc. now owns 31,185 shares of the company's stock worth $101,000 after purchasing an additional 8,600 shares during the period. Jump Financial LLC acquired a new stake in shares of Altice USA during the 4th quarter valued at $84,000. Aigen Investment Management LP grew its holdings in shares of Altice USA by 51.1% during the 4th quarter. Aigen Investment Management LP now owns 33,140 shares of the company's stock valued at $108,000 after acquiring an additional 11,205 shares in the last quarter. RPO LLC purchased a new position in shares of Altice USA during the 4th quarter valued at $109,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Altice USA by 1.6% in the fourth quarter. Allianz Asset Management GmbH now owns 1,500,079 shares of the company's stock worth $4,875,000 after acquiring an additional 23,557 shares during the last quarter. 54.85% of the stock is owned by hedge funds and other institutional investors.

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.