Vanguard Group Inc. Sells 564,609 Shares of Altice USA, Inc. $ATUS

Key Points

• Vanguard Group Inc. reduced its stake in Altice USA by 2.5%, now owning approximately 4.69% of the company, valued at about $57.79 million.
• Several other institutional investors significantly increased their holdings in Altice USA, with Empyrean Capital Partners LP raising its stake by 785% during the fourth quarter.
• Altice USA reported a quarterly loss with an EPS of ($0.21), underperforming analysts’ expectations, while revenue decreased by 4.2% from the previous year.

Vanguard Group Inc. reduced its stake in shares of Altice USA, Inc. (NYSE:ATUS - Free Report) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,726,858 shares of the company's stock after selling 564,609 shares during the quarter. Vanguard Group Inc. owned approximately 4.69% of Altice USA worth $57,793,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LPL Financial LLC purchased a new position in shares of Altice USA during the fourth quarter valued at about $25,000. Raymond James Financial Inc. purchased a new stake in Altice USA in the fourth quarter worth about $30,000. Barclays PLC boosted its position in Altice USA by 29.9% during the 4th quarter. Barclays PLC now owns 1,984,183 shares of the company's stock valued at $4,782,000 after acquiring an additional 456,759 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Altice USA by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,734,589 shares of the company's stock valued at $4,180,000 after acquiring an additional 24,375 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Altice USA by 605.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 49,301 shares of the company's stock worth $119,000 after acquiring an additional 42,316 shares during the period. 54.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ATUS has been the topic of several research reports. The Goldman Sachs Group lifted their price target 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. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $3.05.

Altice USA Stock Performance

Shares of ATUS traded down $0.02 during trading hours on Friday, hitting $2.34. The company had a trading volume of 1,512,193 shares, compared to its average volume of 2,979,630. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.03 and a beta of 1.55. The firm has a fifty day moving average price of $2.41 and a 200-day moving average price of $2.45. Altice USA, Inc. has a 52-week low of $1.70 and a 52-week high of $3.20.

Altice USA (NYSE:ATUS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.15). The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company's quarterly revenue was down 4.2% compared to the same quarter last year. Research analysts anticipate that Altice USA, Inc. will post -0.24 earnings per share for the current fiscal year.

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.