Soviero Asset Management LP Has $964,000 Position in Altice USA, Inc. (NYSE:ATUS)

Soviero Asset Management LP reduced its holdings in Altice USA, Inc. (NYSE:ATUS - Free Report) by 24.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 400,000 shares of the company's stock after selling 130,000 shares during the period. Soviero Asset Management LP owned approximately 0.09% of Altice USA worth $964,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Altice USA by 238.7% in the 4th quarter. JPMorgan Chase & Co. now owns 6,444,193 shares of the company's stock worth $15,531,000 after buying an additional 4,541,359 shares during the period. Barclays PLC increased its position in Altice USA by 120.3% in the 3rd quarter. Barclays PLC now owns 1,527,424 shares of the company's stock worth $3,756,000 after buying an additional 834,030 shares during the period. Geode Capital Management LLC increased its position in Altice USA by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,695,716 shares of the company's stock worth $6,500,000 after buying an additional 12,959 shares during the period. Swiss National Bank increased its position in Altice USA by 2.0% in the 4th quarter. Swiss National Bank now owns 407,700 shares of the company's stock worth $983,000 after buying an additional 8,000 shares during the period. Finally, Sona Asset Management US LLC increased its position in Altice USA by 30.0% in the 4th quarter. Sona Asset Management US LLC now owns 3,900,000 shares of the company's stock worth $9,399,000 after buying an additional 900,000 shares during the period. 54.85% of the stock is owned by institutional investors.

Altice USA Stock Performance

Shares of NYSE:ATUS traded up $0.10 during trading on Friday, hitting $2.37. 3,317,692 shares of the stock were exchanged, compared to its average volume of 3,339,137. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.20. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -10.28 and a beta of 1.65. The company's fifty day simple moving average is $2.49 and its 200-day simple moving average is $2.58.

Altice USA (NYSE:ATUS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. Altice USA's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) earnings per share. On average, research analysts forecast that Altice USA, Inc. will post -0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ATUS. Raymond James raised 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. The Goldman Sachs Group lifted their price objective on Altice USA from $2.00 to $2.25 and gave the stock a "sell" rating in a report on Friday, May 9th. Finally, Barclays lifted their price objective on Altice USA from $2.00 to $3.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. One 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.