Altice USA (NYSE:ATUS) Upgraded at Raymond James

Raymond James upgraded shares of Altice USA (NYSE:ATUS) from a market perform rating to an outperform rating in a research note published on Tuesday morning, Marketbeat.com reports. They currently have $3.50 price objective on the stock.

ATUS has been the subject of a number of other reports. TD Cowen reduced their price target on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Citigroup boosted their price target on shares of Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Altice USA currently has a consensus rating of “Hold” and an average price target of $2.41.

Altice USA Trading Down 3.3 %

Altice USA stock opened at $2.78 on Tuesday. The stock has a market cap of $1.28 billion, a P/E ratio of -12.06 and a beta of 1.52. The company has a fifty day simple moving average of $2.67 and a 200-day simple moving average of $2.40. Altice USA has a 12-month low of $1.52 and a 12-month high of $3.20.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). As a group, sell-side analysts forecast that Altice USA will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now directly owns 21,146,004 shares in the company, valued at $518,077,098. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 8,052,288 shares of company stock valued at $197,281,056. Insiders own 52.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ATUS. Creative Planning increased its stake in shares of Altice USA by 64.1% during the third quarter. Creative Planning now owns 57,616 shares of the company’s stock worth $142,000 after acquiring an additional 22,497 shares during the period. nVerses Capital LLC acquired a new position in shares of Altice USA during the third quarter worth about $74,000. US Bancorp DE grew its position in Altice USA by 30.2% during the third quarter. US Bancorp DE now owns 21,530 shares of the company’s stock worth $53,000 after buying an additional 5,000 shares during the period. GSA Capital Partners LLP acquired a new position in Altice USA during the third quarter worth about $157,000. Finally, LMR Partners LLP grew its position in Altice USA by 217.5% during the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after buying an additional 2,055,000 shares during the period. 54.85% of the stock is currently 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.