Charles Schwab Investment Management Inc. Grows Position in Altice USA, Inc. $ATUS

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Altice USA by 61.4%, owning approximately 2.36 million shares valued at $6.28 million as of the end of the last quarter.
• Altice USA's stock price opened at $2.38, with the company reporting a loss of $0.21 EPS for the last quarter, missing expectations.
• Barclays and Goldman Sachs raised their price targets for Altice USA to $3.00 and $2.25 respectively, with the stock currently holding a consensus price target of $3.05.

Charles Schwab Investment Management Inc. boosted its stake in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 61.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,361,067 shares of the company's stock after acquiring an additional 898,095 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.51% of Altice USA worth $6,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Empyrean Capital Partners LP lifted its position in Altice USA by 785.0% in the fourth quarter. Empyrean Capital Partners LP now owns 17,700,000 shares of the company's stock valued at $42,657,000 after purchasing an additional 15,700,000 shares during the last quarter. Apollo Management Holdings L.P. grew its holdings in shares of Altice USA by 21.9% in the fourth quarter. Apollo Management Holdings L.P. now owns 12,192,050 shares of the company's stock worth $29,383,000 after purchasing an additional 2,192,050 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in shares of Altice USA by 331.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 2,539,489 shares of the company's stock worth $6,120,000 after buying an additional 1,950,437 shares during the period. Nomura Holdings Inc. raised its holdings in Altice USA by 13.5% during the 4th quarter. Nomura Holdings Inc. now owns 12,489,861 shares of the company's stock valued at $30,101,000 after buying an additional 1,489,300 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Altice USA by 36.4% during the 4th quarter. Millennium Management LLC now owns 4,992,142 shares of the company's stock valued at $12,031,000 after buying an additional 1,332,776 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors.

Altice USA Price Performance

Altice USA stock traded down $0.02 during mid-day trading on Monday, reaching $2.34. 1,512,193 shares of the company traded hands, compared to its average volume of 2,777,380. The firm's 50 day moving average price is $2.42 and its 200 day moving average price is $2.45. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.03 and a beta of 1.57. Altice USA, Inc. has a 52-week low of $1.70 and a 52-week high of $3.20.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ATUS shares. The Goldman Sachs Group raised their price target on shares of Altice USA from $2.00 to $2.25 and gave the stock a "sell" rating in a report on Friday, May 9th. Barclays upped 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 note on Friday, May 9th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Altice USA presently has a consensus rating of "Hold" and an average 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.