Empyrean Capital Partners LP Invests $4.08 Million in Altice USA, Inc. (NYSE:ATUS)

Empyrean Capital Partners LP purchased a new stake in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,000,000 shares of the company's stock, valued at approximately $4,080,000. Empyrean Capital Partners LP owned 0.43% of Altice USA as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in ATUS. Massachusetts Financial Services Co. MA raised its holdings in Altice USA by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company's stock valued at $11,566,000 after acquiring an additional 24,501 shares in the last quarter. King Street Capital Management L.P. purchased a new position in Altice USA during the 2nd quarter worth $5,100,000. Apollo Management Holdings L.P. increased its position in Altice USA by 4.6% in the 1st quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company's stock valued at $5,955,000 after acquiring an additional 100,000 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Altice USA by 1.6% during the fourth quarter. Allianz Asset Management GmbH now owns 1,500,079 shares of the company's stock worth $4,875,000 after purchasing an additional 23,557 shares during the last quarter. Finally, CastleKnight Management LP lifted its stake in shares of Altice USA by 676.6% in the 4th quarter. CastleKnight Management LP now owns 1,459,685 shares of the company's stock worth $4,744,000 after acquiring an additional 1,271,734 shares during the period. Institutional investors and hedge funds own 54.85% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ATUS. UBS Group downgraded Altice USA from a "buy" rating to a "neutral" rating and cut their target price for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. Evercore ISI cut their price target 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 initiated coverage on Altice USA in a report on Monday, July 1st. They set a "sell" rating and a $2.00 price objective on the stock. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Altice USA presently has a consensus rating of "Hold" and a consensus price target of $1.97.

Altice USA Price Performance

ATUS traded down $0.05 during trading on Thursday, hitting $2.41. The company had a trading volume of 392,504 shares, compared to its average volume of 3,557,999. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.66. The company has a market cap of $1.11 billion, a PE ratio of 243.00, a P/E/G ratio of 2.71 and a beta of 1.51. The business has a 50-day moving average of $1.89 and a 200-day moving average of $2.12.

Altice USA (NYSE:ATUS - Get Free Report) last issued its quarterly 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 return on equity of 1.54% and a negative net margin of 0.62%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the business posted $0.17 EPS. The business's revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts forecast that Altice USA, Inc. will post 0.1 earnings per share for the current year.

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.