Altice USA (NYSE:ATUS) Shares Gap Up to $1.94

Altice USA, Inc. (NYSE:ATUS)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $1.94, but opened at $2.00. Altice USA shares last traded at $1.94, with a volume of 762,961 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATUS. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Altice USA in a research note on Thursday, April 11th. Wells Fargo & Company downgraded shares of Altice USA from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $2.00 to $1.00 in a research report on Friday, April 5th. BNP Paribas downgraded shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 target price on the stock. in a research report on Tuesday, April 9th. Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Altice USA in a research report on Wednesday, March 20th. Finally, UBS Group dropped their target price on shares of Altice USA from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.90.

Altice USA Trading Up 3.1 %

The firm’s fifty day moving average price is $2.43 and its 200 day moving average price is $2.54. The firm has a market capitalization of $898.56 million, a PE ratio of 16.25 and a beta of 1.35.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period last year, the company posted ($0.43) earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis. On average, analysts predict that Altice USA, Inc. will post 0.2 earnings per share for the current year.

Institutional Trading of Altice USA

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Altice USA by 514.8% in the fourth quarter. AQR Capital Management LLC now owns 12,069,565 shares of the company’s stock valued at $54,494,000 after buying an additional 10,106,315 shares during the last quarter. Bank of America Corp DE boosted its stake in Altice USA by 916.5% during the first quarter. Bank of America Corp DE now owns 10,064,744 shares of the company’s stock worth $34,421,000 after buying an additional 9,074,653 shares during the period. Hudson Bay Capital Management LP boosted its stake in Altice USA by 3,035.2% during the first quarter. Hudson Bay Capital Management LP now owns 4,822,657 shares of the company’s stock worth $16,493,000 after buying an additional 4,668,832 shares during the period. Balyasny Asset Management L.P. purchased a new position in Altice USA during the fourth quarter worth about $13,667,000. Finally, Morgan Stanley boosted its stake in Altice USA by 102.8% during the fourth quarter. Morgan Stanley now owns 7,544,069 shares of the company’s stock worth $34,703,000 after buying an additional 3,823,987 shares during the period. 54.85% of the stock is owned by hedge funds and other institutional investors.

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.