Altice USA (NYSE:ATUS) Sees Unusually-High Trading Volume

Altice USA, Inc. (NYSE:ATUS) shares saw unusually-high trading volume on Wednesday . Approximately 12,279,431 shares changed hands during mid-day trading, an increase of 244% from the previous session’s volume of 3,570,378 shares.The stock last traded at $1.82 and had previously closed at $1.63.

Analysts Set New Price Targets

ATUS has been the topic of several recent analyst reports. Loop Capital decreased their price target on Altice USA from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Evercore ISI lowered their target price on shares of Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group initiated coverage on shares of Altice USA in a report on Monday, July 1st. They issued a “sell” rating and a $2.00 price objective on the stock. Bank of America assumed coverage on shares of Altice USA in a report on Wednesday, April 24th. They issued an “underperform” rating and a $1.50 target price for the company. Finally, UBS Group cut Altice USA from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $1.97.

Altice USA Price Performance

The stock’s 50-day moving average is $1.89 and its 200 day moving average is $2.17. The stock has a market cap of $857.83 million, a price-to-earnings ratio of 183.50, a P/E/G ratio of 0.66 and a beta of 1.48.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the business earned $0.17 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts anticipate that Altice USA, Inc. will post 0.17 EPS for the current year.

Hedge Funds Weigh In On Altice USA

Several hedge funds have recently bought and sold shares of ATUS. King Street Capital Management L.P. purchased a new position in shares of Altice USA during the second quarter valued at approximately $5,100,000. Empyrean Capital Partners LP purchased a new position in shares of Altice USA during the second quarter valued at approximately $4,080,000. CastleKnight Management LP lifted its stake in shares of Altice USA by 676.6% during the fourth quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock valued at $4,744,000 after buying an additional 1,271,734 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Altice USA during the first quarter valued at approximately $1,914,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Altice USA by 16.6% during the first quarter. Assenagon Asset Management S.A. now owns 4,528,572 shares of the company’s stock valued at $11,820,000 after buying an additional 643,731 shares during the period. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.