Deutsche Bank AG Increases Holdings in Altice USA, Inc. (NYSE:ATUS)

Key Points

• Deutsche Bank AG increased its stake in Altice USA, raising its position by 33.9% to approximately 2.75% of the company, worth about $33.9 million.
• Several institutional investors, including Empyrean Capital Partners LP and Nomura Holdings Inc., significantly boosted their holdings in Altice USA, with Empyrean increasing its position by 785%.
• Analysts have mixed ratings on Altice USA, with one "sell," one "hold," and three "buy" ratings, while Barclays raised its price target from $2.00 to $3.00.

Deutsche Bank AG grew its holdings in Altice USA, Inc. (NYSE:ATUS - Free Report) by 33.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 12,761,956 shares of the company's stock after buying an additional 3,231,838 shares during the quarter. Deutsche Bank AG owned approximately 2.75% of Altice USA worth $33,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ATUS. LPL Financial LLC bought a new position in shares of Altice USA in the 4th quarter worth approximately $25,000. Raymond James Financial Inc. bought a new position in shares of Altice USA in the 4th quarter worth approximately $30,000. R Squared Ltd raised its position in shares of Altice USA by 56.0% in the 1st quarter. R Squared Ltd now owns 15,490 shares of the company's stock worth $41,000 after acquiring an additional 5,560 shares in the last quarter. State of Wyoming bought a new position in Altice USA during the 4th quarter valued at approximately $57,000. Finally, Nuveen Asset Management LLC bought a new position in Altice USA during the 4th quarter valued at approximately $60,000. Hedge funds and other institutional investors own 54.85% of the company's stock.

Altice USA Stock Performance

Shares of ATUS stock traded up $0.07 on Friday, reaching $2.38. The stock had a trading volume of 3,689,734 shares, compared to its average volume of 4,364,927. The stock has a market cap of $1.12 billion, a P/E ratio of -4.10 and a beta of 1.55. Altice USA, Inc. has a 1 year low of $1.55 and a 1 year high of $3.20. The company has a 50 day simple moving average of $2.36 and a 200 day simple moving average of $2.49.

Altice USA (NYSE:ATUS - Get Free Report) last posted its quarterly 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 business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, equities research analysts anticipate that Altice USA, Inc. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ATUS. The Goldman Sachs Group raised their price objective on Altice USA from $2.00 to $2.25 and gave the company a "sell" rating in a research report on Friday, May 9th. Barclays raised their price objective on 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $3.05.

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.