Bank of America Corp DE Trims Stock Holdings in Altice USA, Inc. (NYSE:ATUS)

Bank of America Corp DE trimmed its holdings in Altice USA, Inc. (NYSE:ATUS - Free Report) by 80.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. 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 approximately 0.08% of Altice USA worth $878,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Altice USA by 238.7% during the 4th quarter. JPMorgan Chase & Co. now owns 6,444,193 shares of the company's stock worth $15,531,000 after purchasing an additional 4,541,359 shares during the period. Barclays PLC increased its holdings in Altice USA by 120.3% during the 3rd quarter. Barclays PLC now owns 1,527,424 shares of the company's stock worth $3,756,000 after purchasing an additional 834,030 shares during the period. Geode Capital Management LLC increased its holdings in Altice USA by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,695,716 shares of the company's stock worth $6,500,000 after purchasing an additional 12,959 shares during the period. Swiss National Bank increased its holdings in Altice USA by 2.0% during the 4th 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 period. Finally, Raymond James Financial Inc. purchased a new position in Altice USA during the 4th quarter worth $30,000. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

Altice USA Trading Up 5.6%

Shares of NYSE:ATUS opened at $2.26 on Friday. Altice USA, Inc. has a 12-month low of $1.52 and a 12-month high of $3.20. The business's fifty day simple moving average is $2.41 and its 200-day simple moving average is $2.56. The company has a market capitalization of $1.06 billion, a PE ratio of -9.83 and a beta of 1.61.

Altice USA (NYSE:ATUS - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company earned ($0.05) EPS. The company's revenue for the quarter was down 4.4% on a year-over-year basis. Research analysts predict that Altice USA, Inc. will post -0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Raymond James upgraded Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 price objective on the stock in a report on Tuesday, February 18th. Barclays raised their price objective on Altice USA from $2.00 to $3.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group raised their price objective on Altice USA from $2.00 to $2.25 and gave the stock a "sell" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Altice USA currently has a consensus rating of "Hold" and an average price target of $2.75.

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.

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