Empyrean Capital Partners LP Boosts Stake in Altice USA, Inc. $ATUS

Empyrean Capital Partners LP increased its holdings in shares of Altice USA, Inc. (NYSE:ATUS) by 13.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,100,000 shares of the company’s stock after purchasing an additional 2,400,000 shares during the quarter. Altice USA accounts for 1.9% of Empyrean Capital Partners LP’s portfolio, making the stock its 11th biggest holding. Empyrean Capital Partners LP’s holdings in Altice USA were worth $53,466,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ATUS. Teacher Retirement System of Texas bought a new position in Altice USA during the 1st quarter valued at about $81,000. Bracebridge Capital LLC boosted its holdings in Altice USA by 6.0% in the first quarter. Bracebridge Capital LLC now owns 9,390,440 shares of the company’s stock worth $24,979,000 after purchasing an additional 535,463 shares during the last quarter. Sona Asset Management US LLC grew 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 purchasing an additional 900,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Altice USA by 29.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 636,672 shares of the company’s stock worth $1,534,000 after buying an additional 145,046 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Altice USA in the fourth quarter worth $30,000. 54.85% of the stock is currently owned by institutional investors.

Altice USA Stock Performance

Shares of ATUS stock opened at $2.34 on Tuesday. The stock has a fifty day simple moving average of $2.42 and a two-hundred day simple moving average of $2.45. Altice USA, Inc. has a 52-week low of $1.70 and a 52-week high of $3.20. The firm has a market capitalization of $1.09 billion, a PE ratio of -4.03 and a beta of 1.57.

Altice USA (NYSE:ATUS) last released its earnings results 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 analysts’ expectations of $2.16 billion. During the same period in the prior year, the company earned $0.03 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts forecast that Altice USA, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ATUS shares. The Goldman Sachs Group boosted their price objective on shares of Altice USA from $2.00 to $2.25 and gave the company a “sell” rating in a research report on Friday, May 9th. Barclays upped their price target on Altice USA from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Altice USA has an average rating of “Hold” and a consensus target price of $3.05.

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.