Altice USA (NYSE:ATUS) Sees Unusually-High Trading Volume

Altice USA, Inc. (NYSE:ATUS - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 12,279,431 shares traded hands during trading, an increase of 244% from the previous session's volume of 3,570,378 shares.The stock last traded at $1.82 and had previously closed at $1.63.

Analysts Set New Price Targets

A number of brokerages have issued reports on ATUS. Evercore ISI decreased 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. The Goldman Sachs Group initiated coverage on shares of Altice USA in a report on Monday, July 1st. They issued a "sell" rating and a $2.00 price target on the stock. UBS Group lowered 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 report on Friday, August 2nd. Bank of America started coverage on Altice USA in a research report on Wednesday, April 24th. They set an "underperform" rating and a $1.50 price target for the company. Finally, Loop Capital dropped their price target on Altice USA from $3.00 to $2.00 and set a "hold" rating for the company in a research note on Tuesday, April 23rd. Six research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $1.97.

Altice USA Stock Up 11.7 %

The stock has a market cap of $837.13 million, a P/E ratio of 182.00, a price-to-earnings-growth ratio of 0.66 and a beta of 1.48. The firm has a 50 day simple moving average of $1.88 and a 200-day simple moving average of $2.17.

Altice USA (NYSE:ATUS - Get Free Report) last released 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 firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the business earned $0.17 earnings per share. Altice USA's quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Altice USA, Inc. will post 0.17 earnings per share for the current year.

Institutional Trading of Altice USA

Hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. lifted its stake in Altice USA by 265.9% in the second quarter. Point72 Asset Management L.P. now owns 150,000 shares of the company's stock valued at $306,000 after purchasing an additional 109,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Altice USA by 80.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 62,285 shares of the company's stock worth $127,000 after acquiring an additional 27,725 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Altice USA during the 2nd quarter valued at about $81,000. Empyrean Capital Partners LP purchased a new position in shares of Altice USA during the second quarter worth about $4,080,000. Finally, Squarepoint Ops LLC bought a new position in shares of Altice USA in the second quarter worth approximately $183,000. Institutional investors and hedge funds own 54.85% of the company's stock.

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.