AlTi Global Inc. Grows Holdings in Altice USA, Inc. $ATUS

AlTi Global Inc. increased its position in Altice USA, Inc. (NYSE:ATUS) by 125.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the company’s stock after acquiring an additional 83,500 shares during the quarter. AlTi Global Inc.’s holdings in Altice USA were worth $321,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. DoubleLine ETF Adviser LP purchased a new stake in Altice USA during the 1st quarter valued at approximately $29,000. R Squared Ltd grew its holdings in Altice USA by 56.0% during the 1st quarter. R Squared Ltd now owns 15,490 shares of the company’s stock valued at $41,000 after buying an additional 5,560 shares in the last quarter. CWM LLC grew its holdings in Altice USA by 251.5% during the 2nd quarter. CWM LLC now owns 22,280 shares of the company’s stock valued at $48,000 after buying an additional 15,941 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Altice USA during the 1st quarter valued at approximately $81,000. Finally, Caxton Associates LLP purchased a new stake in Altice USA during the 1st quarter valued at approximately $88,000. 54.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ATUS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Altice USA in a report on Friday. Zacks Research lowered shares of Altice USA from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. Finally, The Goldman Sachs Group started coverage on shares of Altice USA in a report on Tuesday, September 2nd. They set a “sell” rating and a $2.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Altice USA Stock Performance

NYSE ATUS opened at $2.18 on Friday. The company has a market capitalization of $1.02 billion, a P/E ratio of -3.75 and a beta of 1.59. Altice USA, Inc. has a one year low of $1.95 and a one year high of $3.20. The stock has a 50 day moving average price of $2.42 and a 200-day moving average price of $2.40.

Altice USA (NYSE:ATUS) last posted its earnings results on Thursday, August 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.15). The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. As a group, equities analysts predict that Altice USA, Inc. will post -0.24 EPS for the current fiscal year.

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.