Shenkman Capital Management Inc. Purchases New Stake in Altice USA, Inc. $ATUS

Key Points

• Shenkman Capital Management Inc. acquired 1,801,300 shares of Altice USA, valued at approximately $4.86 million, which represents about 0.39% of the company's stock according to its SEC filing.
• Altice USA's most recent earnings report showed a loss of $0.21 per share, missing estimates, and a 4.2% decline in year-over-year quarterly revenue.
• Analysts have a consensus "Hold" rating for Altice USA, with a current price target of $3.05, indicating potential upside from its current trading price around $2.27.

Shenkman Capital Management Inc. acquired a new stake in Altice USA, Inc. (NYSE:ATUS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,801,300 shares of the company's stock, valued at approximately $4,859,000. Shenkman Capital Management Inc. owned approximately 0.39% of Altice USA as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Empyrean Capital Partners LP raised 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 acquiring an additional 15,700,000 shares during the last quarter. Deutsche Bank AG raised its position in Altice USA by 33.9% during the 1st quarter. Deutsche Bank AG now owns 12,761,956 shares of the company's stock worth $33,947,000 after purchasing an additional 3,231,838 shares during the last quarter. Apollo Management Holdings L.P. increased its position in Altice USA by 21.9% in the 4th quarter. Apollo Management Holdings L.P. now owns 12,192,050 shares of the company's stock valued at $29,383,000 after buying an additional 2,192,050 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in 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 during the last quarter. Finally, Nomura Holdings Inc. raised its holdings in shares of Altice USA by 13.5% in the 4th quarter. Nomura Holdings Inc. now owns 12,489,861 shares of the company's stock worth $30,101,000 after purchasing an additional 1,489,300 shares during the period. Institutional investors and hedge funds own 54.85% of the company's stock.

Altice USA Stock Performance

Shares of NYSE:ATUS traded up $0.03 during midday trading on Wednesday, hitting $2.41. The company's stock had a trading volume of 734,220 shares, compared to its average volume of 3,785,933. The business's 50 day simple moving average is $2.39 and its 200 day simple moving average is $2.46. Altice USA, Inc. has a 12-month low of $1.70 and a 12-month high of $3.20. The company has a market cap of $1.13 billion, a P/E ratio of -4.11 and a beta of 1.55.

Altice USA (NYSE:ATUS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.15). The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company posted $0.03 EPS. Altice USA's revenue was down 4.2% on a year-over-year basis. On average, sell-side analysts predict that Altice USA, Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays upped their target price on shares of Altice USA from $2.00 to $3.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. The Goldman Sachs Group raised their price objective on shares of Altice USA from $2.00 to $2.25 and gave the company a "sell" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $3.05.

Altice USA 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.