Paulson & CO. Inc. Sells 586,313 Shares of Altice USA, Inc. (NYSE:ATUS)

Paulson & CO. Inc. lessened its stake in Altice USA, Inc. (NYSE:ATUS) by 50.5% in the third quarter, HoldingsChannel reports. The fund owned 573,952 shares of the company’s stock after selling 586,313 shares during the period. Altice USA makes up about 0.1% of Paulson & CO. Inc.’s portfolio, making the stock its 15th biggest position. Paulson & CO. Inc.’s holdings in Altice USA were worth $1,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new position in Altice USA during the 2nd quarter valued at approximately $25,000. D.A. Davidson & CO. bought a new position in Altice USA during the 3rd quarter valued at approximately $32,000. US Bancorp DE raised its position in 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 purchasing an additional 5,000 shares during the last quarter. Swedbank AB bought a new position in Altice USA during the 1st quarter valued at approximately $66,000. Finally, nVerses Capital LLC bought a new position in Altice USA during the 3rd quarter valued at approximately $74,000. Institutional investors own 54.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ATUS. TD Cowen reduced their target price on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th. UBS Group downgraded Altice USA from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $4.00 to $2.00 in a report on Friday, August 2nd. 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 currently has an average rating of “Hold” and a consensus price target of $2.22.

Altice USA Trading Down 7.3 %

ATUS opened at $2.41 on Friday. Altice USA, Inc. has a 12-month low of $1.52 and a 12-month high of $3.66. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -6.51 and a beta of 1.52. The company’s 50 day moving average is $2.48 and its 200 day moving average is $2.19.

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

Insider Buying and Selling at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the sale, the director now directly owns 38,055,771 shares in the company, valued at $932,366,389.50. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 8,052,270 shares of company stock valued at $197,280,615. Company insiders own 52.90% of the company’s stock.

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.