Federated Hermes Inc. Sells 1,140,796 Shares of Altice USA, Inc. (NYSE:ATUS)

Federated Hermes Inc. cut its holdings in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 38.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,796,554 shares of the company's stock after selling 1,140,796 shares during the quarter. Federated Hermes Inc. owned approximately 0.39% of Altice USA worth $3,665,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of Altice USA by 38.1% in the fourth quarter. Victory Capital Management Inc. now owns 31,185 shares of the company's stock valued at $101,000 after buying an additional 8,600 shares in the last quarter. CastleKnight Management LP increased its stake in shares of Altice USA by 676.6% during the 4th quarter. CastleKnight Management LP now owns 1,459,685 shares of the company's stock worth $4,744,000 after purchasing an additional 1,271,734 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Altice USA in the 1st quarter valued at about $1,914,000. Quadrature Capital Ltd acquired a new stake in Altice USA in the 4th quarter valued at about $47,000. Finally, Nomura Holdings Inc. grew its holdings in Altice USA by 343.0% during the fourth quarter. Nomura Holdings Inc. now owns 306,009 shares of the company's stock worth $995,000 after purchasing an additional 236,933 shares during the period. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on ATUS. The Goldman Sachs Group assumed coverage on Altice USA in a report on Monday, July 1st. They set a "sell" rating and a $2.00 target price on the stock. UBS Group downgraded shares of Altice USA from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Finally, Evercore ISI cut their target price on shares of Altice USA from $3.00 to $2.00 and set an "in-line" rating for the company in a research note on Tuesday, July 2nd. Six analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Altice USA presently has a consensus rating of "Hold" and an average price target of $1.97.

Altice USA Stock Down 3.9 %

Shares of Altice USA stock traded down $0.09 during trading on Friday, reaching $2.19. The company's stock had a trading volume of 3,612,579 shares, compared to its average volume of 3,569,663. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.66. The firm has a market cap of $1.01 billion, a PE ratio of 219.00, a P/E/G ratio of 2.49 and a beta of 1.51. The business's 50-day moving average price is $1.86 and its 200-day moving average price is $2.13.

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