Graham Capital Management L.P. Acquires 27,544 Shares of Altice USA, Inc. (NYSE:ATUS)

Graham Capital Management L.P. raised its stake in Altice USA, Inc. (NYSE:ATUS) by 28.2% in the fourth quarter, Holdings Channel reports. The fund owned 125,287 shares of the company’s stock after purchasing an additional 27,544 shares during the quarter. Graham Capital Management L.P.’s holdings in Altice USA were worth $302,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ATUS. LPL Financial LLC acquired a new position in Altice USA during the 4th quarter worth approximately $25,000. Raymond James Financial Inc. bought a new stake in shares of Altice USA during the fourth quarter worth $30,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Altice USA during the fourth quarter worth $43,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Altice USA in the 4th quarter valued at $103,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Altice USA during the 4th quarter valued at $105,000. 54.85% of the stock is owned by institutional investors.

Altice USA Stock Performance

NYSE:ATUS opened at $2.42 on Friday. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.20. The company has a 50 day simple moving average of $2.51 and a two-hundred day simple moving average of $2.59. The company has a market capitalization of $1.12 billion, a PE ratio of -10.50 and a beta of 1.65.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data 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 the consensus estimate of $2.16 billion. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. Research analysts predict that Altice USA, Inc. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Barclays increased their target price on Altice USA from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. The Goldman Sachs Group raised their price objective on shares of Altice USA from $2.00 to $2.25 and gave the company a “sell” rating in a report on Friday, May 9th. Finally, 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 research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.75.

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.