Altice USA, Inc. (NYSE:ATUS) Shares Sold 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 Altice USA, Inc. (NYSE:ATUS - Free Report) by 49.9% in the first 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 period. Federated Hermes Inc. owned 0.09% of Altice USA worth $1,082,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ATUS. LPL Financial LLC bought a new stake in Altice USA in the 4th quarter worth approximately $25,000. Raymond James Financial Inc. bought a new stake in Altice USA in the fourth quarter worth $30,000. Dynamic Technology Lab Private Ltd bought a new stake in Altice USA in the fourth quarter worth $43,000. State of Wyoming bought a new position in Altice USA during the fourth quarter valued at $57,000. Finally, Nuveen Asset Management LLC bought a new position in Altice USA during the fourth quarter valued at $60,000. Hedge funds and other institutional investors own 54.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ATUS. Barclays upped their target price on shares of Altice USA from $2.00 to $3.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. The Goldman Sachs Group boosted their price objective on Altice USA from $2.00 to $2.25 and gave the stock a "sell" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $3.05.

Altice USA Stock Down 2.1%

Shares of Altice USA stock traded down $0.05 during trading on Friday, reaching $2.15. The company's stock had a trading volume of 1,820,096 shares, compared to its average volume of 3,883,121. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.20. The company has a 50-day simple moving average of $2.36 and a two-hundred day simple moving average of $2.51. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -6.31 and a beta of 1.55.

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

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.