Altice USA, Inc. $ATUS Stake Boosted by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP increased its stake in Altice USA, Inc. (NYSE:ATUS) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,449,991 shares of the company’s stock after purchasing an additional 521,287 shares during the period. Hudson Bay Capital Management LP owned 1.59% of Altice USA worth $15,943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. HG Vora Capital Management LLC acquired a new stake in Altice USA in the first quarter worth $12,502,000. Geode Capital Management LLC increased its holdings in shares of Altice USA by 114.7% in the 2nd quarter. Geode Capital Management LLC now owns 6,052,090 shares of the company’s stock worth $12,953,000 after acquiring an additional 3,233,449 shares during the period. Empyrean Capital Partners LP increased its holdings in shares of Altice USA by 13.6% in the 1st quarter. Empyrean Capital Partners LP now owns 20,100,000 shares of the company’s stock worth $53,466,000 after acquiring an additional 2,400,000 shares during the period. Goldman Sachs Group Inc. lifted its position in Altice USA by 46.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,397,047 shares of the company’s stock valued at $17,016,000 after purchasing an additional 2,031,971 shares during the last quarter. Finally, P Schoenfeld Asset Management LP acquired a new position in Altice USA during the 2nd quarter valued at about $4,280,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

Altice USA Stock Performance

Shares of NYSE ATUS opened at $1.79 on Monday. Altice USA, Inc. has a 1 year low of $1.74 and a 1 year high of $3.20. The firm has a market cap of $841.00 million, a P/E ratio of -0.45 and a beta of 1.63. The stock has a fifty day moving average price of $2.06 and a two-hundred day moving average price of $2.26.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($3.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($3.43). The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The business’s quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts predict that Altice USA, Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Altice USA in a research note on Tuesday, September 2nd. They issued a “sell” rating and a $2.00 price target on the stock. Citigroup lowered their target price on Altice USA from $3.25 to $2.75 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Zacks Research downgraded Altice USA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Evercore ISI set a $2.50 price target on Altice USA in a research note on Friday, November 7th. Finally, Barclays lowered their price target on Altice USA from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $2.55.

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.