Amalgamated Bank has sold 50.8% of its holdings in Altice USA Inc. during the first quarter, according to its most recent filing with the SEC. The bank now owns 33,962 shares of the company’s stock, down from 69,034 shares. This reduced holding is valued at $116,000.
Other institutional investors and hedge funds have also made adjustments to their holdings of Altice USA. AQR Capital Management LLC increased its position in the company by 514.8% during the fourth quarter. Marshall Wace LLP saw a 200% increase in its stake during the same period. Morgan Stanley increased its stake by 102.8%, while Deutsche Bank AG acquired a new position in Altice USA worth $14,798,000. Vanguard Group Inc. also boosted its stake by 11.7% during the first quarter.
Altice USA stock opened at $3.45 on Friday with a market capitalization of $1.57 billion. The stock has a one-year low of $2.01 and a one-year high of $11.84. It has a negative net margin of 0.04% and a negative return on equity of 16.96%. Altice USA had earnings per share of $0.17 for the quarter, surpassing analysts’ estimates. However, its quarterly revenue was down 5.6% compared to the same quarter last year.
Several equities analysts have provided ratings for Altice USA. Loop Capital and Pivotal Research reduced their price targets on the stock, while Deutsche Bank Aktiengesellschaft increased theirs. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.88.
Altice USA, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. They offer a range of services to residential and business customers including broadband, video, telephony, and mobile services.
