Westpac Banking Corp Boosts Stake in Altice USA Shares Despite Q4 Earnings Shortfall: An Investor’s Perspective

The world of investment and finance is one that never ceases to amaze us. In recent news, Westpac Banking Corp has significantly boosted its stake in the shares of Altice USA, Inc. It acquired an additional 33,128 shares during the fourth quarter which amounts to a 73.3% increase according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The move by Westpac Banking Corp has made it an institutional investor who now owns 78,329 shares of Altice USA worth $360,000.

Altice USA (NYSE:ATUS) recently released its earnings results for Q4 on Wednesday February 22nd revealing some pertinent information regarding its operations. The company reported ($0.43) earnings per share (EPS) for the quarter, falling short of financial analysts’ consensus estimates of $0.22 by ($0.65). It is indicative that during this period, Altice USA had a negative return on equity of 51.00% and a net margin of 2.02%. Additionally, Altice USA had generated $2.37 billion in revenue for the quarter compared to a consensus estimate projection of $2.40 billion indicating a decline by 6%.

Despite these challenges faced by Altice USA in Q4 last year’s same quarter EPS posted stood at $0.56 providing some context to how challenging last year was when compared with current business posture as well as illuminating possible growth potential moving forward.

With promising prospects despite dips across different metrics Traders are eagerly awaiting further news and financial data from Altice USA which aids in determining ideal purchase points for investment purposes thus helping maintain an effective financial portfolio strategy within their overall Investment Plan.

As we look towards the future prognosis for such investments rest mainly on many different factors including uncertain events like macroeconomic shifts driven changes influenced within industry systems all driven through corporate internal events and external market interests using, or not using signals via the available technologies and actors that convey specific changes to the individuals involved.

With much yet to be analyzed, investors are watched with a keen eye as they look towards various financial holdings for long-term stability and continued return on investments. Overall it is an exciting journey to observe how Altice USA continues to navigate its growth prospects especially in light of current economic uncertainty both in America and globally which makes for an increasingly uncertain business landscape moving forward.

Hedge Funds Show Strong Interest in Altice USA Shares with Recent Buying and Selling

A number of hedge funds have recently engaged in the buying and selling of Altice USA shares, indicating a strong interest in the telecommunications company. Among those that raised their stake in the firm over the last quarter were Bruni J V & Co. Co., Balentine LLC, New York State Common Retirement Fund, Exchange Traded Concepts LLC, and Allspring Global Investments Holdings LLC.

Bruni J V & Co. Co., for example, bought an additional 8,632 shares of Altice USA during the fourth quarter, raising their stake by 1.7% to a total of 508,764 shares valued at $2,340,000. Meanwhile, Balentine LLC increased its stake by an impressive 656.9%, acquiring an additional 78,383 shares worth $415,000.

New York State Common Retirement Fund also upped its shareholding by 75.6%, purchasing an additional 145,599 shares valued at $1,556,000 to take its stake in Altice USA to a total of 338,270 shares. Exchange Traded Concepts LLC raised its stake by 71.4%, acquiring an extra 7,555 shares worth $83,000 and bringing their total holding to 18,135 shares.

Finally, Allspring Global Investments Holdings LLC made the most significant increase in shareholding with a whopping spike of 916.2%. The hedge fund acquired an additional 208,261 existing shares during Q4 and now owns a grand total of 230,993 shares with a valuation of $1,063 million.

Overall it is noted that institutional investors and hedge funds currently own more than half (57.41%) of Altice USA’s stock; hence these transactions indicate increased interest from this category of investors.

Despite some fluctuations on the market over the past year that saw share prices fluctuate between lows of $2.63 and highs of $13.17, Altice USA’s stock opened at $3.18 on Wednesday. The company has a market capitalization of $1.45 billion, with a price-to-earnings ratio of 7.57 and a beta of 1.37, while its 50-day moving average price sits at $3.40 and the two-hundred day moving average rest at $4.28.

The hedge funds’ activity in the market will certainly be worth monitoring as it should give a fair indication of the direction that Altice USA’s stock is heading in during coming months, providing both investors and analysts an insight into what they can expect from this telecommunications major in the future.