Sona Asset Management US LLC Has $9.40 Million Stock Position in Altice USA, Inc. (NYSE:ATUS)

Sona Asset Management US LLC lifted its stake in Altice USA, Inc. (NYSE:ATUS - Free Report) by 30.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,900,000 shares of the company's stock after purchasing an additional 900,000 shares during the quarter. Sona Asset Management US LLC owned 0.84% of Altice USA worth $9,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ATUS. Barclays PLC grew its position in Altice USA by 120.3% in the third quarter. Barclays PLC now owns 1,527,424 shares of the company's stock worth $3,756,000 after acquiring an additional 834,030 shares in the last quarter. JPMorgan Chase & Co. increased its position in Altice USA by 1,617.7% during the third quarter. JPMorgan Chase & Co. now owns 1,902,834 shares of the company's stock worth $4,681,000 after acquiring an additional 1,792,054 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Altice USA by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,462,972 shares of the company's stock valued at $3,526,000 after buying an additional 60,656 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Altice USA during the fourth quarter valued at approximately $30,000. Finally, Swiss National Bank lifted its holdings in shares of Altice USA by 2.0% during the 4th quarter. Swiss National Bank now owns 407,700 shares of the company's stock worth $983,000 after acquiring an additional 8,000 shares during the period. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Altice USA Trading Down 4.7%

Shares of ATUS stock traded down $0.12 on Wednesday, hitting $2.32. 922,115 shares of the stock were exchanged, compared to its average volume of 3,315,125. The business has a 50-day moving average of $2.51 and a 200 day moving average of $2.59. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.20. The firm has a market capitalization of $1.07 billion, a P/E ratio of -10.11 and a beta of 1.65.

Altice USA (NYSE:ATUS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. The firm's quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. As a group, research analysts forecast that Altice USA, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Ratings Changes

ATUS has been the topic of several recent analyst reports. Barclays boosted their price target on Altice USA from $2.00 to $3.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. The Goldman Sachs Group upped their price target on Altice USA from $2.00 to $2.25 and gave the company a "sell" rating in a research note on Friday, May 9th. Finally, Raymond James upgraded Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 price objective for the company in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $2.75.

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.