Thompson Siegel & Walmsley LLC Sells 5,919,712 Shares of Altice USA, Inc. (NYSE:ATUS)

Thompson Siegel & Walmsley LLC trimmed its holdings in shares of Altice USA, Inc. (NYSE:ATUS) by 83.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,165,915 shares of the company’s stock after selling 5,919,712 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Altice USA were worth $2,868,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Personalized Indexing Management LLC bought a new position in shares of Altice USA during the second quarter worth $25,000. US Bancorp DE lifted its holdings in Altice USA by 30.2% during the third 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. Alpine Global Management LLC acquired a new position in Altice USA in the first quarter valued at about $65,000. Swedbank AB bought a new stake in shares of Altice USA in the first quarter worth about $66,000. Finally, nVerses Capital LLC acquired a new stake in shares of Altice USA during the third quarter worth about $74,000. 54.85% of the stock is owned by institutional investors.

Insider Activity 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 transaction, the director now directly owns 38,860,998 shares of the company’s stock, valued at $952,094,451. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 7,247,043 shares of company stock worth $177,552,554 in the last 90 days. Corporate insiders own 52.90% of the company’s stock.

Altice USA Stock Performance

Shares of ATUS stock opened at $2.59 on Friday. The business’s 50-day moving average price is $2.45 and its 200-day moving average price is $2.17. Altice USA, Inc. has a 12 month low of $1.52 and a 12 month high of $3.66. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -7.00, a PEG ratio of 47.38 and a beta of 1.52.

Altice USA (NYSE:ATUS) last announced its earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business earned $0.15 earnings per share. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts predict that Altice USA, Inc. will post 0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. TD Cowen cut 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. UBS Group lowered shares of Altice USA from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.22.

Altice USA Company 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.