Altice USA, Inc. (NYSE:ATUS) Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its position in shares of Altice USA, Inc. (NYSE:ATUS) by 77.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,566 shares of the company’s stock after selling 270,851 shares during the period. Citigroup Inc.’s holdings in Altice USA were worth $263,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Covestor Ltd boosted its position in shares of Altice USA by 798.9% during the 1st quarter. Covestor Ltd now owns 3,353 shares of the company’s stock worth $42,000 after acquiring an additional 2,980 shares in the last quarter. Comerica Bank boosted its holdings in Altice USA by 579.0% in the third quarter. Comerica Bank now owns 8,555 shares of the company’s stock valued at $28,000 after purchasing an additional 7,295 shares in the last quarter. Equitable Holdings Inc. purchased a new position in Altice USA in the first quarter valued at approximately $34,000. Ground Swell Capital LLC acquired a new stake in Altice USA during the second quarter worth approximately $30,000. Finally, MetLife Investment Management LLC acquired a new stake in Altice USA during the first quarter worth approximately $134,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Price Performance

ATUS opened at $2.62 on Thursday. The stock’s 50 day simple moving average is $2.44 and its 200 day simple moving average is $2.64. The stock has a market cap of $1.20 billion, a P/E ratio of 21.83 and a beta of 1.36. Altice USA, Inc. has a 1-year low of $1.75 and a 1-year high of $3.82.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the prior year, the business earned ($0.43) EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Research analysts expect that Altice USA, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ATUS has been the topic of a number of recent analyst reports. BNP Paribas raised shares of Altice USA from an “underperform” rating to a “neutral” rating in a research report on Tuesday, February 27th. Benchmark reiterated a “buy” rating and set a $5.00 target price on shares of Altice USA in a research report on Wednesday, March 20th. Wells Fargo & Company decreased their target price on Altice USA from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. Evercore ISI reaffirmed an “in-line” rating and set a $3.00 price target on shares of Altice USA in a research report on Tuesday. Finally, UBS Group reduced their price objective on Altice USA from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.22.

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.