Soviero Asset Management LP Sells 130,000 Shares of Altice USA, Inc. (NYSE:ATUS)

Soviero Asset Management LP lowered its holdings in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 24.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400,000 shares of the company's stock after selling 130,000 shares during the quarter. Soviero Asset Management LP owned 0.09% of Altice USA worth $964,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC acquired a new stake in shares of Altice USA during the fourth quarter worth about $25,000. Raymond James Financial Inc. acquired a new stake in shares of Altice USA during the fourth quarter worth about $30,000. Dynamic Technology Lab Private Ltd acquired a new stake in Altice USA in the 4th quarter valued at approximately $43,000. State of Wyoming bought a new stake in Altice USA in the 4th quarter valued at approximately $57,000. Finally, Nuveen Asset Management LLC acquired a new position in Altice USA during the 4th quarter worth approximately $60,000. Institutional investors and hedge funds own 54.85% of the company's stock.

Altice USA Price Performance

NYSE ATUS traded up $0.01 on Thursday, hitting $2.28. 2,907,990 shares of the stock were exchanged, compared to its average volume of 3,331,853. The company has a market capitalization of $1.06 billion, a PE ratio of -9.91 and a beta of 1.65. The business's fifty day moving average is $2.50 and its 200 day moving average is $2.59. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.20.

Altice USA (NYSE:ATUS - Get Free Report) last issued 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 quarter last year, the firm posted ($0.05) earnings per share. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts predict that Altice USA, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on ATUS. The Goldman Sachs Group lifted their price objective on shares of Altice USA from $2.00 to $2.25 and gave the company a "sell" rating in a report on Friday, May 9th. Barclays raised their target price on shares of Altice USA from $2.00 to $3.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, Raymond James raised shares of Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 price target on the stock in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Altice USA currently has an average rating of "Hold" and a consensus target price 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.