Altice USA (NYSE:ATUS) Trading Down 7% – What’s Next?

Altice USA, Inc. (NYSE:ATUS)’s stock price was down 7% during trading on Wednesday . The stock traded as low as $2.03 and last traded at $2.06. Approximately 2,178,353 shares were traded during trading, a decline of 27% from the average daily volume of 2,986,998 shares. The stock had previously closed at $2.21.

Analyst Upgrades and Downgrades

Separately, Raymond James upgraded Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 price target for the company in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.44.

Altice USA Stock Performance

The stock’s fifty day simple moving average is $2.65 and its 200-day simple moving average is $2.58. The stock has a market cap of $1.07 billion, a P/E ratio of -10.06 and a beta of 1.65.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). As a group, equities research analysts forecast that Altice USA, Inc. will post -0.24 earnings per share for the current year.

Institutional Trading of Altice USA

Several hedge funds have recently modified their holdings of the stock. Swiss National Bank grew its stake in shares of Altice USA by 2.0% in the 4th quarter. Swiss National Bank now owns 407,700 shares of the company’s stock worth $983,000 after acquiring an additional 8,000 shares in the last quarter. LPL Financial LLC purchased a new position in Altice USA during the fourth quarter worth about $25,000. Quadrature Capital Ltd purchased a new stake in shares of Altice USA during the 3rd quarter valued at $27,000. Raymond James Financial Inc. purchased a new position in Altice USA in the fourth quarter worth $30,000. Finally, Geode Capital Management LLC increased its position in shares of Altice USA by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,695,716 shares of the company’s stock valued at $6,500,000 after purchasing an additional 12,959 shares during the last quarter. Institutional investors own 54.85% of the company’s stock.

About Altice USA

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.