Federated Hermes Inc. raised its holdings in Altice USA, Inc. (NYSE:ATUS – Free Report) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,309,995 shares of the company’s stock after buying an additional 76,851 shares during the period. Federated Hermes Inc. owned 0.73% of Altice USA worth $11,320,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd grew its position in shares of Altice USA by 798.9% in the 1st quarter. Covestor Ltd now owns 3,353 shares of the company’s stock valued at $42,000 after acquiring an additional 2,980 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Altice USA in the 4th quarter valued at about $49,000. MQS Management LLC bought a new position in shares of Altice USA in the 4th quarter valued at about $52,000. West Family Investments Inc. bought a new position in shares of Altice USA in the 4th quarter valued at about $54,000. Finally, Andesa Financial Management Inc. bought a new position in shares of Altice USA in the 1st quarter valued at about $57,000. Institutional investors own 56.48% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. TheStreet downgraded shares of Altice USA from a “c-” rating to a “d” rating in a research report on Monday, May 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Altice USA from $4.50 to $4.75 in a report on Friday, May 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $3.00 target price on shares of Altice USA in a report on Friday, August 4th. Loop Capital reduced their target price on shares of Altice USA from $12.00 to $3.00 in a report on Thursday, May 4th. Finally, Pivotal Research reduced their target price on shares of Altice USA from $4.50 to $3.00 in a report on Friday, May 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.88.
Check Out Our Latest Research Report on ATUS
Altice USA Trading Up 0.9 %
Shares of NYSE:ATUS opened at $3.45 on Friday. The firm has a 50 day moving average of $3.06 and a 200-day moving average of $3.37. The stock has a market capitalization of $1.57 billion, a PE ratio of -344.66 and a beta of 1.42. Altice USA, Inc. has a 12 month low of $2.01 and a 12 month high of $11.84.
Altice USA (NYSE:ATUS – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.05 by $0.12. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Altice USA had a negative net margin of 0.04% and a negative return on equity of 16.96%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 EPS. On average, research analysts predict that Altice USA, Inc. will post 0.5 EPS for the current fiscal year.
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.
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