Altice USA (NYSE:ATUS) Given New $3.50 Price Target at TD Cowen

Altice USA (NYSE:ATUS) had its target price dropped by TD Cowen from $6.00 to $3.50 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price objective suggests a potential upside of 35.66% from the company’s current price.

Separately, UBS Group cut Altice USA from a “buy” rating to a “neutral” rating and cut their price target for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Altice USA presently has an average rating of “Hold” and a consensus price target of $2.12.

Altice USA Trading Down 0.4 %

NYSE:ATUS traded down $0.01 during trading hours on Tuesday, hitting $2.58. The stock had a trading volume of 5,196,786 shares, compared to its average volume of 3,461,895. The company has a market cap of $1.19 billion, a PE ratio of -20.00, a price-to-earnings-growth ratio of 9.87 and a beta of 1.52. The business has a 50 day simple moving average of $2.29 and a two-hundred day simple moving average of $2.12. Altice USA has a 1-year low of $1.52 and a 1-year high of $3.66.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the business posted $0.15 earnings per share. Altice USA’s revenue for the quarter was down 3.9% on a year-over-year basis. Research analysts expect that Altice USA will post 0.1 EPS for the current fiscal year.

Insider Activity

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the transaction, the director now directly owns 38,055,771 shares in the company, valued at approximately $932,366,389.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 3,220,908 shares of company stock worth $78,912,246. 52.90% of the stock is currently owned by insiders.

Institutional Trading of Altice USA

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its position in Altice USA by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock valued at $11,566,000 after purchasing an additional 24,501 shares during the last quarter. King Street Capital Management L.P. bought a new stake in shares of Altice USA during the second quarter valued at approximately $5,100,000. Apollo Management Holdings L.P. grew its holdings in Altice USA by 4.6% in the 1st quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock worth $5,955,000 after buying an additional 100,000 shares in the last quarter. Empyrean Capital Partners LP bought a new position in Altice USA in the 2nd quarter worth approximately $4,080,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Altice USA in the 1st quarter valued at approximately $1,914,000. 54.85% of the stock is currently owned by institutional investors and hedge funds.

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.