Diameter Capital Partners LP Sells 1,851,671 Shares of Altice USA, Inc. (NYSE:ATUS)

Diameter Capital Partners LP cut its position in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,173,516 shares of the company's stock after selling 1,851,671 shares during the period. Altice USA comprises 3.3% of Diameter Capital Partners LP's portfolio, making the stock its 11th biggest position. Diameter Capital Partners LP owned 1.99% of Altice USA worth $22,108,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Swiss National Bank boosted its stake in shares of Altice USA by 2.0% during the fourth quarter. Swiss National Bank now owns 407,700 shares of the company's stock valued at $983,000 after purchasing an additional 8,000 shares in the last quarter. LPL Financial LLC bought a new position in shares of Altice USA in the 4th quarter worth $25,000. Raymond James Financial Inc. bought a new stake in Altice USA during the fourth quarter valued at about $30,000. Geode Capital Management LLC raised its holdings in Altice USA by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 2,695,716 shares of the company's stock worth $6,500,000 after purchasing an additional 12,959 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Altice USA during the 4th quarter worth approximately $43,000. 54.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Raymond James raised shares of 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 research analyst has rated the stock with a sell rating, two 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 $2.67.

Altice USA Stock Up 4.5 %

Shares of ATUS opened at $2.65 on Wednesday. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -11.50 and a beta of 1.65. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.20. The stock's 50-day moving average price is $2.49 and its 200-day moving average price is $2.58.

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

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.

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