Altice USA (NYSE:ATUS) Stock Price Down 6.6% – Should You Sell?

Altice USA, Inc. (NYSE:ATUS) shares dropped 6.6% during trading on Friday . The company traded as low as $2.73 and last traded at $2.76. Approximately 293,856 shares changed hands during trading, a decline of 92% from the average daily volume of 3,881,171 shares. The stock had previously closed at $2.95.

Analyst Ratings Changes

ATUS has been the topic of a number of analyst reports. Barclays increased their price objective 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. The Goldman Sachs Group increased their price objective on Altice USA from $2.00 to $2.25 and gave the company a “sell” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.88.

Altice USA Trading Down 9.3%

The business has a 50 day simple moving average of $2.34 and a 200-day simple moving average of $2.53. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.87 and a beta of 1.58.

Altice USA (NYSE:ATUS) last issued its quarterly 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 business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. Research analysts predict that Altice USA, Inc. will post -0.24 EPS for the current year.

Institutional Investors Weigh In On Altice USA

Several hedge funds have recently modified their holdings of ATUS. Empyrean Capital Partners LP raised its holdings in shares of Altice USA by 785.0% during the 4th quarter. Empyrean Capital Partners LP now owns 17,700,000 shares of the company’s stock valued at $42,657,000 after buying an additional 15,700,000 shares during the period. HG Vora Capital Management LLC acquired a new stake in Altice USA during the 1st quarter valued at approximately $12,502,000. JPMorgan Chase & Co. grew its stake in Altice USA by 238.7% during the 4th quarter. JPMorgan Chase & Co. now owns 6,444,193 shares of the company’s stock valued at $15,531,000 after purchasing an additional 4,541,359 shares in the last quarter. Deutsche Bank AG grew its stake in Altice USA by 33.9% during the 1st quarter. Deutsche Bank AG now owns 12,761,956 shares of the company’s stock valued at $33,947,000 after purchasing an additional 3,231,838 shares in the last quarter. Finally, Bracebridge Capital LLC grew its stake in Altice USA by 35.5% during the 4th quarter. Bracebridge Capital LLC now owns 8,854,977 shares of the company’s stock valued at $21,340,000 after purchasing an additional 2,322,337 shares in the last quarter. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

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.