Assenagon Asset Management S.A. Trims Stake in Altice USA, Inc. (NYSE:ATUS)

Assenagon Asset Management S.A. cut its position in Altice USA, Inc. (NYSE:ATUS - Free Report) by 96.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,791 shares of the company's stock after selling 863,387 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Altice USA were worth $74,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Swiss National Bank increased its position in shares of Altice USA by 2.0% in the fourth quarter. Swiss National Bank now owns 407,700 shares of the company's stock worth $983,000 after purchasing an additional 8,000 shares during the last quarter. LPL Financial LLC purchased a new position in Altice USA in the 4th quarter worth approximately $25,000. Raymond James Financial Inc. purchased a new stake in shares of Altice USA during the 4th quarter valued at $30,000. Geode Capital Management LLC raised its position in shares of Altice USA by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,695,716 shares of the company's stock valued at $6,500,000 after buying an additional 12,959 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Altice USA during the 4th quarter worth $43,000. 54.85% of the stock is owned by institutional investors.

Altice USA Stock Up 5.6%

Shares of Altice USA stock traded up $0.12 on Tuesday, hitting $2.16. The stock had a trading volume of 2,589,655 shares, compared to its average volume of 3,387,577. Altice USA, Inc. has a one year low of $1.52 and a one year high of $3.20. The stock's 50-day simple moving average is $2.34 and its two-hundred day simple moving average is $2.53. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -6.34 and a beta of 1.61.

Altice USA (NYSE:ATUS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.07). The business 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 4.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. As a group, equities analysts predict that Altice USA, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Barclays raised their price objective on Altice USA from $2.00 to $3.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. The Goldman Sachs Group lifted their price target on shares of Altice USA from $2.00 to $2.25 and gave the stock a "sell" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Altice USA presently has an average rating of "Hold" and a consensus target price of $2.75.

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.