Altice USA (NYSE:ATUS) Sees Large Volume Increase

Altice USA, Inc. (NYSE:ATUS - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 3,476,147 shares traded hands during trading, a decline of 2% from the previous session's volume of 3,552,323 shares.The stock last traded at $2.15 and had previously closed at $2.04.

Analyst Upgrades and Downgrades

ATUS has been the topic of a number of research analyst reports. Evercore ISI lowered 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. UBS Group lowered shares of Altice USA from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $4.00 to $2.00 in a report on Friday, August 2nd. Finally, The Goldman Sachs Group initiated coverage on shares of Altice USA in a research note on Monday, July 1st. They issued a "sell" rating and a $2.00 price target on the stock. Six 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.com, the company currently has an average rating of "Hold" and a consensus price target of $1.97.

Altice USA Price Performance

The stock has a market cap of $982.02 million, a PE ratio of 213.50, a price-to-earnings-growth ratio of 2.37 and a beta of 1.48. The stock's fifty day moving average is $1.83 and its 200-day moving average is $2.16.

Altice USA (NYSE:ATUS - Get Free Report) last announced its quarterly 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 firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the business earned $0.17 EPS. The firm's quarterly revenue 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 fiscal year.

Institutional Trading of Altice USA

A number of hedge funds and other institutional investors have recently modified their holdings of ATUS. Point72 Asset Management L.P. increased its holdings in Altice USA by 265.9% in the 2nd 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. boosted its position in shares of Altice USA by 80.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 62,285 shares of the company's stock worth $127,000 after buying an additional 27,725 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Altice USA in the second quarter valued at $81,000. Empyrean Capital Partners LP purchased a new stake in shares of Altice USA in the 2nd quarter valued at $4,080,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Altice USA in the 2nd quarter valued at $183,000. 54.85% of the stock is owned by institutional investors and hedge funds.

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.