Balyasny Asset Management L.P. Cuts Stock Holdings in Altice USA, Inc. (NYSE:ATUS)

Balyasny Asset Management L.P. trimmed its position in shares of Altice USA, Inc. (NYSE:ATUS) by 86.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 375,522 shares of the company’s stock after selling 2,316,169 shares during the period. Balyasny Asset Management L.P. owned about 0.08% of Altice USA worth $905,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC bought a new position in shares of Altice USA during the fourth quarter valued at about $25,000. Raymond James Financial Inc. bought a new position in shares of Altice USA during the fourth quarter valued at about $30,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Altice USA during the fourth quarter valued at about $43,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Altice USA during the fourth quarter valued at about $103,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Altice USA during the fourth quarter valued at about $105,000. 54.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Altice USA from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Raymond James raised shares of Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 price objective for the company in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group increased their price target on shares of Altice USA from $2.00 to $2.25 and gave the stock a “sell” rating in a research note on Friday, May 9th. 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 stock. According to MarketBeat, Altice USA presently has an average rating of “Hold” and a consensus target price of $2.75.

Altice USA Price Performance

ATUS stock opened at $2.79 on Thursday. Altice USA, Inc. has a 1 year low of $1.52 and a 1 year high of $3.20. The company has a market cap of $1.29 billion, a P/E ratio of -12.13 and a beta of 1.65. The firm has a 50-day moving average of $2.50 and a 200 day moving average of $2.59.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm posted ($0.05) earnings per share. Altice USA’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts expect that Altice USA, Inc. will post -0.24 earnings per share for the current fiscal year.

Altice USA Company 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.