Altice USA (NYSE:ATUS) Trading Down 9.8% – Should You Sell?

Altice USA, Inc. (NYSE:ATUS) shares were down 9.8% on Tuesday . The stock traded as low as $2.21 and last traded at $2.22. Approximately 2,834,754 shares traded hands during trading, a decline of 9% from the average daily volume of 3,131,370 shares. The stock had previously closed at $2.46.

Analyst Ratings Changes

Separately, Raymond James raised 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Altice USA presently has an average rating of “Hold” and a consensus target price of $2.44.

Altice USA Trading Up 1.1 %

The firm has a market cap of $1.07 billion, a P/E ratio of -10.02 and a beta of 1.65. The business has a 50-day moving average of $2.61 and a two-hundred day moving average of $2.58.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Altice USA by 0.9% in 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 during the last quarter. Empyrean Capital Partners LP increased its position in shares of Altice USA by 785.0% during the fourth quarter. Empyrean Capital Partners LP now owns 17,700,000 shares of the company’s stock worth $42,657,000 after buying an additional 15,700,000 shares during the period. Nomura Holdings Inc. raised its stake in Altice USA by 13.5% during the fourth quarter. Nomura Holdings Inc. now owns 12,489,861 shares of the company’s stock worth $30,101,000 after buying an additional 1,489,300 shares during the last quarter. Apollo Management Holdings L.P. lifted its holdings in Altice USA by 21.9% in 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 buying an additional 2,192,050 shares during the period. Finally, Deutsche Bank AG boosted its position in Altice USA by 5.6% during the fourth quarter. Deutsche Bank AG now owns 9,530,118 shares of the company’s stock valued at $22,968,000 after acquiring an additional 506,057 shares during the last quarter. 54.85% of the stock is owned by institutional investors and hedge funds.

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.