Altice USA (NYSE:ATUS) Trading Down 4.4% - Should You Sell?

Altice USA, Inc. (NYSE:ATUS - Get Free Report) shares fell 4.4% during mid-day trading on Wednesday . The company traded as low as $2.15 and last traded at $2.16. 1,035,109 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 3,308,279 shares. The stock had previously closed at $2.26.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ATUS shares. The Goldman Sachs Group upped their target price on shares of Altice USA from $2.00 to $2.25 and gave the company a "sell" rating in a report on Friday, May 9th. Barclays boosted their price objective on shares of Altice USA from $2.00 to $3.00 and gave the company an "equal weight" rating in a research report 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 note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $2.75.

Altice USA Stock Up 5.6%

The firm has a market cap of $1.06 billion, a PE ratio of -9.83 and a beta of 1.61. The firm's fifty day simple moving average is $2.41 and its two-hundred day simple moving average is $2.56.

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

Hedge Funds Weigh In On Altice USA

Large investors have recently made changes to their positions in the business. Empyrean Capital Partners LP grew its position in shares of Altice USA by 785.0% during the fourth quarter. Empyrean Capital Partners LP now owns 17,700,000 shares of the company's stock worth $42,657,000 after purchasing an additional 15,700,000 shares in the last quarter. HG Vora Capital Management LLC bought a new position in Altice USA in the 1st quarter worth approximately $12,502,000. JPMorgan Chase & Co. boosted its stake in Altice USA by 238.7% in the 4th quarter. JPMorgan Chase & Co. now owns 6,444,193 shares of the company's stock worth $15,531,000 after purchasing an additional 4,541,359 shares during the period. Deutsche Bank AG grew its holdings in Altice USA by 33.9% during the 1st quarter. Deutsche Bank AG now owns 12,761,956 shares of the company's stock valued at $33,947,000 after buying an additional 3,231,838 shares in the last quarter. Finally, Bracebridge Capital LLC raised its position in shares of Altice USA by 35.5% during the fourth quarter. Bracebridge Capital LLC now owns 8,854,977 shares of the company's stock valued at $21,340,000 after buying an additional 2,322,337 shares during the last quarter. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

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.