Millennium Management LLC Buys 1,332,776 Shares of Altice USA, Inc. (NYSE:ATUS)

Millennium Management LLC grew its holdings in Altice USA, Inc. (NYSE:ATUS - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,992,142 shares of the company's stock after purchasing an additional 1,332,776 shares during the quarter. Millennium Management LLC owned about 1.08% of Altice USA worth $12,031,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LMR Partners LLP grew its position in Altice USA by 31.3% during the fourth quarter. LMR Partners LLP now owns 3,938,533 shares of the company's stock worth $9,492,000 after buying an additional 938,533 shares in the last quarter. Hudson Bay Capital Management LP grew its position in Altice USA by 10.3% during the fourth quarter. Hudson Bay Capital Management LP now owns 6,175,486 shares of the company's stock worth $14,883,000 after buying an additional 577,435 shares in the last quarter. Graham Capital Management L.P. grew its position in Altice USA by 28.2% during the fourth quarter. Graham Capital Management L.P. now owns 125,287 shares of the company's stock worth $302,000 after buying an additional 27,544 shares in the last quarter. Empyrean Capital Partners LP grew its position in Altice USA by 785.0% during the fourth quarter. Empyrean Capital Partners LP now owns 17,700,000 shares of the company's stock worth $42,657,000 after buying an additional 15,700,000 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Altice USA by 5.6% during the fourth quarter. Deutsche Bank AG now owns 9,530,118 shares of the company's stock worth $22,968,000 after buying an additional 506,057 shares in the last quarter. 54.85% of the stock is owned by institutional investors and hedge funds.

Altice USA Price Performance

Shares of NYSE:ATUS traded up $0.04 during trading on Thursday, reaching $2.34. The stock had a trading volume of 392,168 shares, compared to its average volume of 3,432,096. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.20. The business's 50-day moving average price is $2.48 and its 200 day moving average price is $2.58. The stock has a market capitalization of $1.09 billion, a PE ratio of -10.15 and a beta of 1.65.

Altice USA (NYSE:ATUS - Get Free Report) last posted its 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 for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business earned ($0.05) EPS. The company's revenue was down 4.4% compared to the same quarter last year. Analysts forecast that Altice USA, Inc. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ATUS. Barclays lifted their target price on Altice USA from $2.00 to $3.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Raymond James raised 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. Finally, The Goldman Sachs Group lifted their price objective on Altice USA from $2.00 to $2.25 and gave the company a "sell" rating in a report on Friday, May 9th. One equities 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 data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $2.75.

Altice USA Company 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.