140 Summer Partners LP Purchases Shares of 3,660,200 Altice USA, Inc. (NYSE:ATUS)

140 Summer Partners LP acquired a new position in shares of Altice USA, Inc. (NYSE:ATUS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,660,200 shares of the company’s stock, valued at approximately $9,004,000. Altice USA accounts for approximately 1.0% of 140 Summer Partners LP’s portfolio, making the stock its 17th biggest position. 140 Summer Partners LP owned 0.79% of Altice USA as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ATUS. US Bancorp DE grew its holdings in Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock worth $53,000 after acquiring an additional 5,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Altice USA during the second quarter worth $25,000. D.A. Davidson & CO. acquired a new position in shares of Altice USA during the third quarter worth $32,000. Handelsbanken Fonder AB raised its stake in Altice USA by 102.2% in the third quarter. Handelsbanken Fonder AB now owns 36,000 shares of the company’s stock valued at $89,000 after buying an additional 18,200 shares in the last quarter. Finally, Creative Planning lifted its holdings in Altice USA by 64.1% during the 3rd quarter. Creative Planning now owns 57,616 shares of the company’s stock worth $142,000 after buying an additional 22,497 shares during the last quarter. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ATUS shares. UBS Group downgraded Altice USA from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $4.00 to $2.00 in a report on Friday, August 2nd. TD Cowen dropped their price target on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.22.

Altice USA Trading Up 3.8 %

ATUS stock opened at $2.61 on Thursday. The company has a market capitalization of $1.20 billion, a P/E ratio of -7.04, a PEG ratio of 50.97 and a beta of 1.52. The business has a 50 day simple moving average of $2.47 and a 200-day simple moving average of $2.18. Altice USA, Inc. has a twelve month low of $1.52 and a twelve month high of $3.66.

Altice USA (NYSE:ATUS) last issued 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 return on equity of 1.54% and a negative net margin of 1.85%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the company earned $0.15 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Research analysts predict that Altice USA, Inc. will post 0.01 EPS for the current fiscal year.

Insider Transactions at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the sale, the director now owns 38,860,998 shares in the company, valued at $952,094,451. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 8,052,270 shares of company stock worth $197,280,615. Company insiders own 52.90% of the company’s stock.

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.