Taconic Capital Advisors LP Has $2.34 Million Stock Holdings in Altice USA, Inc. (NYSE:ATUS)

Taconic Capital Advisors LP reduced its holdings in Altice USA, Inc. (NYSE:ATUS) by 13.6% in the third quarter, HoldingsChannel reports. The firm owned 950,000 shares of the company’s stock after selling 150,000 shares during the period. Altice USA makes up about 1.2% of Taconic Capital Advisors LP’s investment portfolio, making the stock its 9th biggest holding. Taconic Capital Advisors LP’s holdings in Altice USA were worth $2,337,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in ATUS. Vanguard Personalized Indexing Management LLC bought a new stake in Altice USA in the second quarter worth approximately $25,000. D.A. Davidson & CO. bought a new stake in shares of Altice USA during the third quarter valued at approximately $32,000. US Bancorp DE increased its holdings in shares of Altice USA by 30.2% during the third quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after acquiring an additional 5,000 shares in the last quarter. Swedbank AB bought a new stake in shares of Altice USA during the first quarter valued at approximately $66,000. Finally, nVerses Capital LLC bought a new stake in shares of Altice USA during the third quarter valued at approximately $74,000. 54.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now owns 38,860,998 shares of the company’s stock, valued at $952,094,451. This represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 8,052,270 shares of company stock valued at $197,280,615 in the last 90 days. Insiders own 52.90% of the company’s stock.

Altice USA Trading Up 3.6 %

ATUS stock opened at $2.60 on Friday. The stock’s fifty day simple moving average is $2.48 and its two-hundred day simple moving average is $2.19. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.66. The stock has a market cap of $1.20 billion, a P/E ratio of -7.03, a P/E/G ratio of 50.97 and a beta of 1.52.

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

Wall Street Analyst Weigh In

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

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.