Altice USA, Inc. (NYSE:ATUS) Position Trimmed by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has reduced its stake in Altice USA, Inc. by 49.9%, now owning approximately 0.09% of the company valued at $1.08 million.
• Altice USA reported a loss of $0.16 EPS for the most recent quarter, missing estimates and representing a 4.4% decline in revenue year-over-year.
• Analyst ratings for Altice USA include one sell, one hold, and three buy ratings, with an average price target of $3.05.

Federated Hermes Inc. decreased its holdings in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 49.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 406,670 shares of the company's stock after selling 405,379 shares during the quarter. Federated Hermes Inc. owned approximately 0.09% of Altice USA worth $1,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LPL Financial LLC acquired a new stake in shares of Altice USA in the fourth quarter valued at approximately $25,000. Raymond James Financial Inc. acquired a new stake in shares of Altice USA in the fourth quarter valued at approximately $30,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Altice USA in the fourth quarter valued at approximately $43,000. State of Wyoming acquired a new stake in shares of Altice USA in the fourth quarter valued at approximately $57,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Altice USA in the fourth quarter valued at approximately $60,000. Institutional investors and hedge funds own 54.85% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ATUS. The Goldman Sachs Group raised their price target on shares of Altice USA from $2.00 to $2.25 and gave the company a "sell" rating in a research note on Friday, May 9th. Barclays raised 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $3.05.

Altice USA Price Performance

Shares of NYSE ATUS traded down $0.05 during mid-day trading on Friday, reaching $2.15. 1,820,096 shares of the company traded hands, compared to its average volume of 4,550,536. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.20. The firm has a market cap of $1.00 billion, a PE ratio of -3.70 and a beta of 1.55. The stock has a fifty day simple moving average of $2.36 and a 200-day simple moving average of $2.51.

Altice USA (NYSE:ATUS - Get Free Report) last issued its 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 company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. The business's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS. As a group, analysts predict that Altice USA, Inc. will post -0.24 EPS for the current fiscal year.

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.