AlTi Global Inc. Buys 83,500 Shares of Altice USA, Inc. $ATUS

AlTi Global Inc. increased its stake in Altice USA, Inc. (NYSE:ATUS) by 125.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,000 shares of the company’s stock after buying an additional 83,500 shares during the quarter. AlTi Global Inc.’s holdings in Altice USA were worth $321,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. HG Vora Capital Management LLC bought a new stake in Altice USA in the first quarter worth $12,502,000. Hsbc Holdings PLC lifted its position in Altice USA by 11.4% in the first quarter. Hsbc Holdings PLC now owns 99,025 shares of the company’s stock worth $263,000 after buying an additional 10,139 shares during the last quarter. Bracebridge Capital LLC lifted its position 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 buying an additional 535,463 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Altice USA during the first quarter worth $81,000. Finally, Invesco Ltd. lifted its position in shares of Altice USA by 207.9% during the first quarter. Invesco Ltd. now owns 142,084 shares of the company’s stock worth $378,000 after purchasing an additional 95,938 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors.

Altice USA Trading Up 0.2%

Shares of Altice USA stock opened at $2.18 on Friday. The firm has a market cap of $1.02 billion, a P/E ratio of -3.75 and a beta of 1.59. Altice USA, Inc. has a 12 month low of $1.95 and a 12 month high of $3.20. The stock’s fifty day moving average price is $2.42 and its 200-day moving average price is $2.40.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.15). The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. Analysts forecast that Altice USA, Inc. will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on ATUS shares. The Goldman Sachs Group started coverage on Altice USA in a research report on Tuesday, September 2nd. They set a “sell” rating and a $2.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Altice USA in a research report on Friday. Finally, Zacks Research downgraded Altice USA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.00.

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.