Point72 Asset Management L.P. Raises Position in Altice USA, Inc. (NYSE:ATUS)

Point72 Asset Management L.P. raised its position in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 487.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 880,985 shares of the company's stock after purchasing an additional 730,985 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.19% of Altice USA worth $2,167,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in shares of Altice USA by 30.2% in the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company's stock worth $53,000 after acquiring an additional 5,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Altice USA in the second quarter valued at approximately $25,000. D.A. Davidson & CO. bought a new position in shares of Altice USA during the 3rd quarter worth approximately $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 worth $89,000 after buying an additional 18,200 shares during the period. Finally, Creative Planning increased its stake 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 acquiring an additional 22,497 shares in the last quarter. Institutional investors own 54.85% of the company's stock.

Altice USA Trading Up 3.0 %

Shares of NYSE:ATUS traded up $0.07 during mid-day trading on Tuesday, hitting $2.43. 3,034,441 shares of the company traded hands, compared to its average volume of 3,506,220. The stock has a 50-day moving average price of $2.50 and a two-hundred day moving average price of $2.20. Altice USA, Inc. has a 12-month low of $1.52 and a 12-month high of $3.66. The stock has a market cap of $1.12 billion, a P/E ratio of -6.38 and a beta of 1.53.

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

Analysts Set New Price Targets

Separately, TD Cowen decreased their price target on shares of 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 issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Altice USA has an average rating of "Hold" and an average target price of $2.22.

Insider Transactions at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction on Monday, October 28th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the sale, the director now directly owns 38,055,771 shares in the company, valued at approximately $932,366,389.50. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 10,467,951 shares of company stock worth $256,464,800 in the last 90 days. Insiders own 52.90% 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.