Bruni J V & Co. Co. reduced its position in Altice USA, Inc. (NYSE:ATUS – Free Report) by 0.8% in the third quarter, Holdings Channel.com reports. The fund owned 715,580 shares of the company’s stock after selling 6,132 shares during the quarter. Altice USA makes up about 0.2% of Bruni J V & Co. Co.’s holdings, making the stock its 27th biggest holding. Bruni J V & Co. Co.’s holdings in Altice USA were worth $1,760,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Aristeia Capital L.L.C. bought a new position in Altice USA in the 2nd quarter worth about $657,000. King Street Capital Management L.P. purchased a new position in shares of Altice USA during the second quarter worth about $5,100,000. Empyrean Capital Partners LP purchased a new stake in Altice USA in the second quarter valued at approximately $4,080,000. Squarepoint Ops LLC bought a new stake in Altice USA during the second quarter valued at approximately $183,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in Altice USA by 13.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 460,585 shares of the company’s stock worth $1,193,000 after buying an additional 53,158 shares in the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.
Insider Buying and Selling at Altice USA
In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now owns 38,055,771 shares in the company, valued at $932,366,389.50. The trade was a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 6,441,816 shares of company stock valued at $157,824,492 in the last quarter. Company insiders own 52.90% of the company’s stock.
Altice USA Trading Down 3.8 %
Altice USA (NYSE:ATUS – Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm posted $0.15 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities research analysts forecast that Altice USA, Inc. will post 0.01 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently weighed in on ATUS. TD Cowen dropped their price objective on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Altice USA presently has an average rating of “Hold” and an average target price of $2.22.
View Our Latest Research Report on ATUS
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.
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