Stonehill Capital Management LLC Sells 884,094 Shares of Altice USA, Inc. (NYSE:ATUS)

Stonehill Capital Management LLC reduced its stake in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 92.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,898 shares of the company's stock after selling 884,094 shares during the quarter. Altice USA accounts for 0.1% of Stonehill Capital Management LLC's portfolio, making the stock its 11th largest position. Stonehill Capital Management LLC's holdings in Altice USA were worth $184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the company. 140 Summer Partners LP acquired a new position in Altice USA during the 3rd quarter worth $9,004,000. King Street Capital Management L.P. bought a new stake in shares of Altice USA in the 2nd quarter valued at $5,100,000. LMR Partners LLP raised its stake in Altice USA by 217.5% during the 3rd quarter. LMR Partners LLP now owns 3,000,000 shares of the company's stock worth $7,380,000 after buying an additional 2,055,000 shares during the period. Empyrean Capital Partners LP bought a new position in Altice USA during the second quarter worth about $4,080,000. Finally, Paloma Partners Management Co grew its stake in Altice USA by 172.6% in the third quarter. Paloma Partners Management Co now owns 2,210,941 shares of the company's stock valued at $5,439,000 after acquiring an additional 1,400,000 shares during the period. 54.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Altice USA

In other 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 transaction, the director now owns 38,055,771 shares of the company's stock, valued at approximately $932,366,389.50. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 9,662,724 shares of company stock valued at $236,736,738 in the last ninety days. 52.90% of the stock is currently owned by company insiders.

Altice USA Price Performance

Altice USA stock traded up $0.07 during midday trading on Thursday, hitting $2.56. The company's stock had a trading volume of 2,789,907 shares, compared to its average volume of 3,487,434. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.66. The company has a 50-day moving average price of $2.49 and a two-hundred day moving average price of $2.20.

Altice USA (NYSE:ATUS - Get Free Report) last issued its quarterly 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 net margin of 1.85% and a negative return on equity of 1.54%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm posted $0.15 earnings per share. The company's quarterly revenue was down 3.9% on a year-over-year basis. Analysts forecast that Altice USA, Inc. will post -0.01 EPS for the current year.

Altice USA Company 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.