Paloma Partners Management Co Buys 1,400,000 Shares of Altice USA, Inc. (NYSE:ATUS)

Paloma Partners Management Co raised its stake in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 172.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,210,941 shares of the company's stock after buying an additional 1,400,000 shares during the quarter. Paloma Partners Management Co owned about 0.48% of Altice USA worth $5,439,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE boosted its position in Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company's stock valued at $53,000 after buying an additional 5,000 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in Altice USA in the 2nd quarter worth about $25,000. D.A. Davidson & CO. purchased a new stake in Altice USA during the third quarter valued at $32,000. Handelsbanken Fonder AB grew its position in shares of Altice USA by 102.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 36,000 shares of the company's stock valued at $89,000 after acquiring an additional 18,200 shares during the period. Finally, Creative Planning raised its position in shares of Altice USA by 64.1% during the 3rd quarter. Creative Planning now owns 57,616 shares of the company's stock valued at $142,000 after purchasing an additional 22,497 shares during the period. Hedge funds and other institutional investors own 54.85% of the company's stock.

Analyst Ratings Changes

Separately, TD Cowen decreased their price target on Altice USA from $6.00 to $3.50 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $2.22.

Altice USA Stock Performance

NYSE ATUS traded up $0.07 during mid-day trading on Monday, reaching $2.48. 2,334,475 shares of the stock were exchanged, compared to its average volume of 3,489,835. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.66. The business's fifty day simple moving average is $2.48 and its 200 day simple moving average is $2.19. The stock has a market capitalization of $1.14 billion, a PE ratio of -6.51 and a beta of 1.52.

Altice USA (NYSE:ATUS - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.13). The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.15 earnings per share. On average, analysts anticipate that Altice USA, Inc. will post -0.01 EPS for the current year.

Insider Activity at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now directly owns 21,146,004 shares in the company, valued at $518,077,098. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 8,052,270 shares of company stock worth $197,280,615 in the last three months. 52.90% of the stock is owned by company insiders.

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.