Altice USA (NYSE:ATUS) Trading Up 6.5% - Still a Buy?

Altice USA, Inc. (NYSE:ATUS - Get Free Report) shares traded up 6.5% on Monday . The company traded as high as $2.47 and last traded at $2.46. 1,836,188 shares were traded during mid-day trading, a decline of 41% from the average session volume of 3,122,151 shares. The stock had previously closed at $2.31.

Analyst Ratings Changes

Separately, Raymond James raised shares of Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 target price on the stock in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $2.44.

Altice USA Stock Performance

The firm has a 50 day simple moving average of $2.59 and a two-hundred day simple moving average of $2.57. The stock has a market cap of $1.07 billion, a P/E ratio of -10.02 and a beta of 1.65.

Altice USA (NYSE:ATUS - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). As a group, equities research analysts predict that Altice USA, Inc. will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Altice USA

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Empyrean Capital Partners LP lifted its position in Altice USA by 785.0% during the 4th quarter. Empyrean Capital Partners LP now owns 17,700,000 shares of the company's stock worth $42,657,000 after buying an additional 15,700,000 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Altice USA by 238.7% in the fourth quarter. JPMorgan Chase & Co. now owns 6,444,193 shares of the company's stock valued at $15,531,000 after buying an additional 4,541,359 shares during the period. Bracebridge Capital LLC grew its holdings in 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 purchasing an additional 2,322,337 shares during the period. Apollo Management Holdings L.P. raised its stake in Altice USA by 21.9% during the 4th quarter. Apollo Management Holdings L.P. now owns 12,192,050 shares of the company's stock worth $29,383,000 after buying an additional 2,192,050 shares during the period. Finally, Tudor Investment Corp ET AL lifted its holdings in shares of Altice USA by 331.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 2,539,489 shares of the company's stock valued at $6,120,000 after purchasing an additional 1,950,437 shares in the last quarter. 54.85% of the stock is owned by institutional investors.

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.