393,318 Shares in Altice USA, Inc. (NYSE:ATUS) Bought by Walleye Capital LLC

Walleye Capital LLC bought a new position in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 393,318 shares of the company's stock, valued at approximately $968,000. Walleye Capital LLC owned 0.09% of Altice USA at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Aristeia Capital L.L.C. bought a new stake in shares of Altice USA in the 2nd quarter worth approximately $657,000. King Street Capital Management L.P. bought a new position in Altice USA in the second quarter worth $5,100,000. Algert Global LLC boosted its stake in Altice USA by 101.3% during the third quarter. Algert Global LLC now owns 639,005 shares of the company's stock worth $1,572,000 after buying an additional 321,618 shares in the last quarter. Empyrean Capital Partners LP bought a new stake in Altice USA in the 2nd quarter valued at $4,080,000. Finally, LMR Partners LLP raised its stake in shares of Altice USA by 217.5% in the 3rd quarter. LMR Partners LLP now owns 3,000,000 shares of the company's stock valued at $7,380,000 after buying an additional 2,055,000 shares in the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, TD Cowen cut 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 analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Altice USA has a consensus rating of "Hold" and an average target price of $2.22.

Insider Activity

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the business's stock in a transaction dated 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 owns 38,055,771 shares of the company's stock, valued at approximately $932,366,389.50. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 10,467,951 shares of company stock worth $256,464,800. Corporate insiders own 52.90% of the company's stock.

Altice USA Stock Performance

Altice USA stock traded up $0.02 during midday trading on Friday, reaching $2.58. 4,866,752 shares of the company's stock were exchanged, compared to its average volume of 3,388,103. The stock's 50-day simple moving average is $2.50 and its 200 day simple moving average is $2.20. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -6.97 and a beta of 1.53. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.66.

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

Altice USA 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.