Assenagon Asset Management S.A. Decreases Position in Altice USA, Inc. (NYSE:ATUS)

Assenagon Asset Management S.A. reduced its holdings in Altice USA, Inc. (NYSE:ATUS - Free Report) by 50.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,185,156 shares of the company's stock after selling 2,261,073 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.48% of Altice USA worth $5,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ATUS. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Altice USA in the 2nd quarter valued at $25,000. Headlands Technologies LLC bought a new stake in shares of Altice USA in the 1st quarter valued at $46,000. SG Americas Securities LLC increased its position in shares of Altice USA by 45.2% in the 1st quarter. SG Americas Securities LLC now owns 58,098 shares of the company's stock valued at $152,000 after buying an additional 18,080 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Altice USA by 102.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 36,000 shares of the company's stock valued at $89,000 after buying an additional 18,200 shares in the last quarter. Finally, Creative Planning increased its position in shares of Altice USA by 64.1% in the 3rd quarter. Creative Planning now owns 57,616 shares of the company's stock valued at $142,000 after buying an additional 22,497 shares in the last quarter. 54.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on ATUS shares. UBS Group downgraded Altice USA from a "buy" rating to a "neutral" rating and dropped their price target for the company from $4.00 to $2.00 in a research note on Friday, August 2nd. Evercore ISI dropped their price target on Altice USA from $3.00 to $2.00 and set an "in-line" rating on the stock in a research note on Tuesday, July 2nd. Six research 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. According to data from MarketBeat, Altice USA has an average rating of "Hold" and a consensus price target of $1.97.

Insider Activity

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the sale, the director now owns 38,055,771 shares in the company, valued at approximately $932,366,389.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 53.60% of the company's stock.

Altice USA Price Performance

Shares of Altice USA stock traded down $0.07 during trading on Wednesday, hitting $2.51. The company's stock had a trading volume of 3,201,654 shares, compared to its average volume of 3,406,776. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.66. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 251.00, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53. The stock has a 50-day moving average price of $2.24 and a two-hundred day moving average price of $2.10.

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 analysts' consensus estimates 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 firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the company posted $0.17 EPS. The business's revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Altice USA, Inc. will post 0.1 EPS 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.