Altice USA, Inc. (NYSE:ATUS) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in Altice USA, Inc. (NYSE:ATUS) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,799,589 shares of the company’s stock after selling 78,290 shares during the period. Federated Hermes Inc. owned 0.62% of Altice USA worth $9,099,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sherbrooke Park Advisers LLC acquired a new position in Altice USA in the third quarter valued at approximately $37,000. Aigen Investment Management LP acquired a new position in shares of Altice USA during the third quarter worth approximately $72,000. Aristeia Capital LLC acquired a new position in shares of Altice USA during the third quarter worth approximately $95,000. SG Americas Securities LLC boosted its position in shares of Altice USA by 81.9% during the third quarter. SG Americas Securities LLC now owns 41,793 shares of the company’s stock worth $137,000 after buying an additional 18,815 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC boosted its position in shares of Altice USA by 8.8% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 60,000 shares of the company’s stock worth $196,000 after buying an additional 4,872 shares during the period. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Altice USA Stock Performance

NYSE ATUS opened at $1.96 on Thursday. The stock has a market capitalization of $893.99 million, a P/E ratio of 16.33 and a beta of 1.35. Altice USA, Inc. has a 1 year low of $1.75 and a 1 year high of $3.82. The business’s fifty day moving average is $2.42 and its two-hundred day moving average is $2.51.

Altice USA (NYSE:ATUS) last announced its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.33). Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the firm earned ($0.43) earnings per share. Altice USA’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, research analysts forecast that Altice USA, Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ATUS shares. Evercore ISI reiterated an “in-line” rating and set a $3.00 price objective on shares of Altice USA in a research report on Tuesday, March 26th. BNP Paribas cut Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 target price on the stock. in a report on Tuesday, April 9th. Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Altice USA in a report on Wednesday, March 20th. Wells Fargo & Company cut Altice USA from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $2.00 to $1.00 in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.68.

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.