Nomura Holdings Inc. Has $32.15 Million Stake in Altice USA, Inc. $ATUS

Key Points

• Nomura Holdings Inc. reduced its stake in Altice USA, Inc. by 3.2%, selling 405,000 shares, and now owns approximately 12.08 million shares valued at $32.15 million.
• Despite recent analyst upgrades, with Goldman Sachs raising the target price from $2.00 to $2.25, the stock has a consensus rating of "Hold" and a target price of $3.05.
• Altice USA reported a decrease in revenue year-over-year, with quarterly earnings of ($0.21) EPS, missing estimates by $0.15.

Nomura Holdings Inc. lowered its stake in Altice USA, Inc. (NYSE:ATUS - Free Report) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,084,861 shares of the company's stock after selling 405,000 shares during the period. Nomura Holdings Inc. owned approximately 2.61% of Altice USA worth $32,146,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Altice USA during the fourth quarter valued at $30,000. R Squared Ltd boosted its stake in shares of Altice USA by 56.0% during 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 stake in shares of Altice USA during the 4th quarter worth about $57,000. Nuveen Asset Management LLC acquired a new position in Altice USA during the 4th quarter worth $60,000. Finally, Teacher Retirement System of Texas bought a new stake in Altice USA during the 1st quarter valued at approximately $81,000. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Altice USA Price Performance

Shares of ATUS traded down $0.12 during mid-day trading on Friday, reaching $2.22. The company had a trading volume of 1,446,551 shares, compared to its average volume of 3,743,531. Altice USA, Inc. has a twelve month low of $1.88 and a twelve month high of $3.20. The company's 50-day moving average is $2.43 and its 200-day moving average is $2.44. The company has a market capitalization of $1.04 billion, a P/E ratio of -3.84 and a beta of 1.56.

Altice USA (NYSE:ATUS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.21) earnings per share (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 analyst estimates of $2.16 billion. During the same period in the previous year, the firm posted $0.03 earnings per share. The company's quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts expect that Altice USA, Inc. will post -0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

ATUS has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on Altice USA in a research note on Tuesday. They set a "sell" rating and a $2.00 target price for the company. Barclays increased their target price on Altice USA from $2.00 to $3.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell 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 $3.00.

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.