XTX Topco Ltd Grows Stake in Altice USA, Inc. (NYSE:ATUS)

XTX Topco Ltd boosted its holdings in Altice USA, Inc. (NYSE:ATUS - Free Report) by 476.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 468,969 shares of the company's stock after purchasing an additional 387,655 shares during the period. XTX Topco Ltd owned about 0.10% of Altice USA worth $1,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ATUS. 140 Summer Partners LP purchased a new position in Altice USA in the third quarter worth $9,004,000. King Street Capital Management L.P. purchased a new position in shares of Altice USA during the 2nd quarter valued at $5,100,000. LMR Partners LLP lifted its position in shares of Altice USA by 217.5% during 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 during the last quarter. Empyrean Capital Partners LP purchased a new position in shares of Altice USA during the 2nd quarter valued at $4,080,000. Finally, Paloma Partners Management Co lifted its position in shares of Altice USA by 172.6% during the 3rd quarter. Paloma Partners Management Co now owns 2,210,941 shares of the company's stock valued at $5,439,000 after buying an additional 1,400,000 shares during the last quarter. Hedge funds and other institutional investors own 54.85% of the company's stock.

Insider Activity

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the 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 sale, the director now directly owns 38,055,771 shares in the company, valued at $932,366,389.50. This represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 11,273,181 shares of company stock worth $276,192,935. 52.90% of the stock is currently owned by insiders.

Altice USA Price Performance

NYSE ATUS traded up $0.04 during trading on Tuesday, reaching $2.40. The company's stock had a trading volume of 4,367,529 shares, compared to its average volume of 3,511,902. The stock has a market capitalization of $1.11 billion, a PE ratio of -6.49 and a beta of 1.53. The firm has a fifty day moving average of $2.50 and a 200 day moving average of $2.20. Altice USA, Inc. has a one year low of $1.52 and a one year 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) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.13). The business had revenue of $2.23 billion during 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%. Altice USA's revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 earnings per share. Research analysts expect that Altice USA, Inc. will post -0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, TD Cowen dropped their price target on Altice USA from $6.00 to $3.50 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Altice USA has an average rating of "Hold" and a consensus price target of $2.22.

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.