Point72 Asset Management L.P. Has $2.85 Million Stock Position in Altice USA, Inc. (NYSE:ATUS)

Point72 Asset Management L.P. increased its stake in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 34.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,184,126 shares of the company's stock after buying an additional 303,141 shares during the period. Point72 Asset Management L.P. owned 0.26% of Altice USA worth $2,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ATUS. Empyrean Capital Partners LP lifted its position in Altice USA by 785.0% during the 4th quarter. Empyrean Capital Partners LP now owns 17,700,000 shares of the company's stock worth $42,657,000 after buying an additional 15,700,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Altice USA by 238.7% during the 4th quarter. JPMorgan Chase & Co. now owns 6,444,193 shares of the company's stock valued at $15,531,000 after purchasing an additional 4,541,359 shares during the period. Bracebridge Capital LLC lifted its position in Altice USA by 35.5% during the 4th quarter. Bracebridge Capital LLC now owns 8,854,977 shares of the company's stock valued at $21,340,000 after purchasing an additional 2,322,337 shares during the period. Apollo Management Holdings L.P. lifted its position in Altice USA by 21.9% during 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 purchasing an additional 2,192,050 shares during the period. Finally, Tudor Investment Corp ET AL lifted its position 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 period. Institutional investors and hedge funds own 54.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Raymond James upgraded shares of Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 target price on the stock in a research report on Tuesday, February 18th. The Goldman Sachs Group increased their price target 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. Finally, Barclays increased their price target 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $2.75.

Altice USA Stock Up 4.2%

Shares of ATUS traded up $0.10 during midday trading on Friday, reaching $2.37. 3,317,692 shares of the stock were exchanged, compared to its average volume of 3,339,137. Altice USA, Inc. has a twelve month low of $1.52 and a twelve month high of $3.20. The company has a market cap of $1.10 billion, a P/E ratio of -10.28 and a beta of 1.65. The stock's 50 day simple moving average is $2.49 and its 200 day simple moving average is $2.58.

Altice USA (NYSE:ATUS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.07). The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the company earned ($0.05) earnings per share. The business's quarterly revenue was down 4.4% on a year-over-year basis. As a group, analysts predict 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.