Altice USA, Inc. $ATUS Stake Raised by Bracebridge Capital LLC

Key Points

• Bracebridge Capital LLC has increased its stake in **Altice USA, Inc.** by 6.0%, now owning 9,390,440 shares valued at approximately **$24.98 million**, making it the 2nd largest position in their investment portfolio.
• **Altice USA** reported a **loss of $0.21** per share for the quarter, missing expectations by $0.15, and experienced a **4.2% decline** in quarterly revenue year-over-year.
• Analysts have mixed views on Altice USA, with target price adjustments ranging from **$2.00 to $3.00**, and a consensus rating of **"Hold"** among analysts covering the stock.

Bracebridge Capital LLC raised its stake in Altice USA, Inc. (NYSE:ATUS - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,390,440 shares of the company's stock after purchasing an additional 535,463 shares during the quarter. Altice USA accounts for 1.7% of Bracebridge Capital LLC's portfolio, making the stock its 2nd biggest position. Bracebridge Capital LLC owned 2.03% of Altice USA worth $24,979,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Altice USA by 7.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 56,440 shares of the company's stock valued at $150,000 after acquiring an additional 4,030 shares in the last quarter. R Squared Ltd raised its holdings in shares of Altice USA by 56.0% during the first quarter. R Squared Ltd now owns 15,490 shares of the company's stock valued at $41,000 after acquiring an additional 5,560 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Altice USA by 11.4% during the first quarter. Hsbc Holdings PLC now owns 99,025 shares of the company's stock valued at $263,000 after acquiring an additional 10,139 shares in the last quarter. LPL Financial LLC bought a new position in shares of Altice USA during the fourth quarter valued at approximately $25,000. Finally, Raymond James Financial Inc. bought a new position in shares of Altice USA during the fourth quarter valued at approximately $30,000. Institutional investors own 54.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ATUS. Barclays upped their target price 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 initiated coverage on Altice USA in a report on Tuesday. They set a "sell" rating and a $2.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $3.00.

Altice USA Trading Down 2.7%

ATUS traded down $0.07 during trading on Wednesday, reaching $2.34. The stock had a trading volume of 387,360 shares, compared to its average volume of 3,738,821. The stock's 50 day moving average is $2.42 and its two-hundred day moving average is $2.45. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.03 and a beta of 1.56. Altice USA, Inc. has a one year low of $1.70 and a one year high of $3.20.

Altice USA (NYSE:ATUS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.15). The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company's revenue was down 4.2% on a year-over-year basis. On average, equities research 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.