Loomis Sayles & Co. L P Lowers Holdings in Altice USA, Inc. $ATUS

Loomis Sayles & Co. L P trimmed its stake in shares of Altice USA, Inc. (NYSE:ATUS) by 1.8% during the 2nd quarter, Holdings Channel reports. The fund owned 7,194,960 shares of the company’s stock after selling 129,186 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Altice USA were worth $15,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. DoubleLine ETF Adviser LP purchased a new stake in Altice USA in the 1st quarter worth approximately $29,000. May Hill Capital LLC purchased a new position in shares of Altice USA during the 2nd quarter valued at approximately $29,000. R Squared Ltd lifted its stake in shares of Altice USA by 56.0% in the 1st quarter. R Squared Ltd now owns 15,490 shares of the company’s stock valued at $41,000 after purchasing an additional 5,560 shares during the period. CWM LLC boosted its holdings in Altice USA by 251.5% during the second quarter. CWM LLC now owns 22,280 shares of the company’s stock worth $48,000 after buying an additional 15,941 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in Altice USA during the second quarter worth $57,000. 54.85% of the stock is owned by institutional investors and hedge funds.

Altice USA Stock Up 1.1%

ATUS stock opened at $1.79 on Monday. The business has a fifty day moving average of $2.20 and a two-hundred day moving average of $2.31. Altice USA, Inc. has a 52-week low of $1.74 and a 52-week high of $3.20. The stock has a market cap of $841.00 million, a price-to-earnings ratio of -0.45 and a beta of 1.63.

Altice USA (NYSE:ATUS) last announced its earnings results on Thursday, November 6th. The company reported ($3.47) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($3.43). The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.13 billion. Altice USA’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) earnings per share. As a group, sell-side analysts anticipate that Altice USA, Inc. will post -0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ATUS. Citigroup cut their price objective on shares of Altice USA from $3.25 to $2.75 and set a “buy” rating for the company in a report on Wednesday, November 12th. Barclays dropped their target price on Altice USA from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Zacks Research cut Altice USA from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. Evercore ISI set a $2.50 price target on Altice USA in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Altice USA in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Altice USA has a consensus rating of “Reduce” and an average target price of $2.55.

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.