Clarkston Capital Partners LLC Lowers Stock Position in Altice USA, Inc. (NYSE:ATUS)

Clarkston Capital Partners LLC trimmed its stake in Altice USA, Inc. (NYSE:ATUS) by 97.2% during the third quarter, Holdings Channel.com reports. The fund owned 890,000 shares of the company’s stock after selling 30,353,434 shares during the period. Clarkston Capital Partners LLC’s holdings in Altice USA were worth $2,189,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in Altice USA during the third quarter worth about $157,000. US Bancorp DE boosted its position in Altice USA by 30.2% in the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after buying an additional 5,000 shares during the period. nVerses Capital LLC purchased a new stake in shares of Altice USA during the third quarter worth $74,000. Creative Planning increased its position in shares of Altice USA by 64.1% during the third quarter. Creative Planning now owns 57,616 shares of the company’s stock worth $142,000 after acquiring an additional 22,497 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings 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 purchasing an additional 18,200 shares during the period. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the 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 sale, the director now directly owns 38,055,771 shares of the company’s stock, valued at approximately $932,366,389.50. This represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 6,441,816 shares of company stock valued at $157,824,492 in the last quarter. 52.90% of the stock is currently owned by corporate insiders.

Altice USA Stock Down 5.4 %

Shares of Altice USA stock opened at $2.47 on Monday. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.66. The firm’s 50 day moving average is $2.41 and its two-hundred day moving average is $2.16. The firm has a market capitalization of $1.14 billion, a P/E ratio of -6.68, a P/E/G ratio of 49.18 and a beta of 1.52.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business earned $0.15 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, research analysts expect that Altice USA, Inc. will post 0.01 earnings per share for the current fiscal year.

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.