Bank of America Corp DE Sells 1,483,338 Shares of Altice USA, Inc. (NYSE:ATUS)

Bank of America Corp DE reduced its stake in Altice USA, Inc. (NYSE:ATUS - Free Report) by 80.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 364,480 shares of the company's stock after selling 1,483,338 shares during the quarter. Bank of America Corp DE owned about 0.08% of Altice USA worth $878,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. LPL Financial LLC bought a new position in Altice USA in the 4th quarter valued at about $25,000. Raymond James Financial Inc. bought a new position in Altice USA in the 4th quarter valued at about $30,000. Dynamic Technology Lab Private Ltd bought a new position in Altice USA in the 4th quarter valued at about $43,000. Arrowstreet Capital Limited Partnership bought a new position in Altice USA in the 4th quarter valued at about $103,000. Finally, KLP Kapitalforvaltning AS bought a new position in Altice USA in the 4th quarter valued at about $105,000. 54.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on ATUS shares. Raymond James raised 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 report on Tuesday, February 18th. The Goldman Sachs Group raised their target price 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. Finally, Barclays raised their target price on shares of Altice USA from $2.00 to $3.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Altice USA has a consensus rating of "Hold" and a consensus target price of $2.75.

Altice USA Stock Performance

Shares of NYSE ATUS traded down $0.01 during trading hours on Wednesday, hitting $2.22. 2,316,989 shares of the stock were exchanged, compared to its average volume of 3,342,392. The company has a market cap of $1.04 billion, a PE ratio of -9.63 and a beta of 1.61. The company's fifty day simple moving average is $2.39 and its two-hundred day simple moving average is $2.55. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.20.

Altice USA (NYSE:ATUS - Get Free Report) last issued 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 business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter in the prior year, the company earned ($0.05) EPS. Altice USA's quarterly revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts expect 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.