Massachusetts Financial Services Co. MA Reduces Stock Position in Altice USA, Inc. (NYSE:ATUS)

Massachusetts Financial Services Co. MA lessened its stake in Altice USA, Inc. (NYSE:ATUS) by 36.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,590,020 shares of the company’s stock after selling 2,079,467 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.78% of Altice USA worth $8,831,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC acquired a new position in Altice USA in the 2nd quarter valued at about $25,000. US Bancorp DE raised its position in shares of Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after buying an additional 5,000 shares during the period. Swedbank AB acquired a new position in Altice USA in the first quarter valued at approximately $66,000. nVerses Capital LLC purchased a new position in Altice USA in the third quarter worth approximately $74,000. Finally, Mackenzie Financial Corp acquired a new stake in Altice USA during the second quarter worth $81,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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 Monday, October 28th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the transaction, the director now directly owns 38,055,771 shares of the company’s stock, valued at approximately $932,366,389.50. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 7,247,043 shares of company stock worth $177,552,554. Corporate insiders own 52.90% of the company’s stock.

Altice USA Price Performance

NYSE ATUS opened at $2.51 on Wednesday. The company has a market cap of $1.16 billion, a P/E ratio of -6.78, a P/E/G ratio of 51.57 and a beta of 1.52. The stock has a 50-day moving average of $2.47 and a two-hundred day moving average of $2.18. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.66.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. On average, analysts anticipate that Altice USA, Inc. will post 0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and decreased their price target for the company from $4.00 to $2.00 in a research note on Friday, August 2nd. TD Cowen decreased their target price on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.22.

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.