Balyasny Asset Management L.P. Sells 2,316,169 Shares of Altice USA, Inc. (NYSE:ATUS)

Balyasny Asset Management L.P. decreased its holdings in shares of Altice USA, Inc. (NYSE:ATUS) by 86.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 375,522 shares of the company’s stock after selling 2,316,169 shares during the period. Balyasny Asset Management L.P.’s holdings in Altice USA were worth $905,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ATUS. Vanguard Group Inc. increased its position in shares of Altice USA by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 22,291,467 shares of the company’s stock valued at $53,722,000 after acquiring an additional 208,478 shares in the last quarter. Apollo Management Holdings L.P. increased its position in shares of Altice USA by 21.9% during the fourth quarter. Apollo Management Holdings L.P. now owns 12,192,050 shares of the company’s stock valued at $29,383,000 after acquiring an additional 2,192,050 shares in the last quarter. Bracebridge Capital LLC increased its position in shares of Altice USA by 35.5% during the fourth quarter. Bracebridge Capital LLC now owns 8,854,977 shares of the company’s stock valued at $21,340,000 after acquiring an additional 2,322,337 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Altice USA by 238.7% during the fourth quarter. JPMorgan Chase & Co. now owns 6,444,193 shares of the company’s stock valued at $15,531,000 after acquiring an additional 4,541,359 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Altice USA by 32.8% during the fourth quarter. Renaissance Technologies LLC now owns 4,181,200 shares of the company’s stock valued at $10,077,000 after acquiring an additional 1,033,200 shares in the last quarter. Institutional investors own 54.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays raised their price target on shares of Altice USA from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Raymond James upgraded shares of Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 target price on the stock in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group raised their target price on shares of Altice USA from $2.00 to $2.25 and gave the stock a “sell” rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Altice USA has a consensus rating of “Hold” and a consensus target price of $2.75.

Altice USA Price Performance

Shares of Altice USA stock opened at $2.79 on Thursday. The company’s fifty day simple moving average is $2.50 and its 200-day simple moving average is $2.59. The stock has a market capitalization of $1.29 billion, a PE ratio of -12.13 and a beta of 1.65. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.20.

Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. Altice USA’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) EPS. As a group, research analysts anticipate that Altice USA, Inc. will post -0.24 EPS for the current year.

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.