Altice USA, Inc. (NYSE:ATUS) Position Boosted by Verition Fund Management LLC

Verition Fund Management LLC lifted its stake in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 579.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 624,983 shares of the company's stock after purchasing an additional 533,032 shares during the period. Verition Fund Management LLC owned about 0.14% of Altice USA worth $1,537,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ATUS. Vanguard Personalized Indexing Management LLC bought a new stake in Altice USA during the second quarter valued at $25,000. D.A. Davidson & CO. acquired a new position in shares of Altice USA in the 3rd quarter valued at about $32,000. US Bancorp DE grew its position in shares of 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 last quarter. nVerses Capital LLC acquired a new stake in Altice USA during the third quarter worth about $74,000. Finally, Handelsbanken Fonder AB lifted its holdings in Altice USA by 102.2% in the third quarter. Handelsbanken Fonder AB now owns 36,000 shares of the company's stock worth $89,000 after acquiring an additional 18,200 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Altice USA Price Performance

Shares of NYSE ATUS traded up $0.02 during midday trading on Friday, hitting $2.58. 4,866,752 shares of the company's stock were exchanged, compared to its average volume of 3,388,103. Altice USA, Inc. has a twelve month low of $1.52 and a twelve month high of $3.66. The firm has a market cap of $1.19 billion, a P/E ratio of -6.97 and a beta of 1.53. The stock's 50 day moving average price is $2.50 and its 200-day moving average price is $2.20.

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

Analyst Ratings Changes

Separately, TD Cowen lowered their target price on Altice USA from $6.00 to $3.50 and set a "buy" rating for the company in a report 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 issued a buy rating to the stock. According to data from MarketBeat, Altice USA has a consensus rating of "Hold" and an average target price of $2.22.

Insider Activity at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the 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 completion of the transaction, the director now directly owns 38,055,771 shares of the company's stock, valued at approximately $932,366,389.50. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 10,467,951 shares of company stock worth $256,464,800 in the last 90 days. Corporate insiders own 52.90% of the company's stock.

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.