Paulson & CO. Inc. Has $1.41 Million Stock Position in Altice USA, Inc. (NYSE:ATUS)

Paulson & CO. Inc. lowered its holdings in shares of Altice USA, Inc. (NYSE:ATUS) by 50.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 holdings, making the stock its 15th biggest position. Paulson & CO. Inc. owned 0.12% of Altice USA worth $1,412,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. 140 Summer Partners LP acquired a new stake in Altice USA in the third quarter valued at approximately $9,004,000. King Street Capital Management L.P. acquired a new stake in Altice USA in the second quarter valued at approximately $5,100,000. LMR Partners LLP grew its stake in Altice USA by 217.5% in the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock valued at $7,380,000 after acquiring an additional 2,055,000 shares during the period. Empyrean Capital Partners LP acquired a new stake in Altice USA in the second quarter valued at approximately $4,080,000. Finally, Verition Fund Management LLC grew its stake in Altice USA by 579.7% in the third quarter. Verition Fund Management LLC now owns 624,983 shares of the company’s stock valued at $1,537,000 after acquiring an additional 533,032 shares during the period. Institutional investors and hedge funds own 54.85% of the company’s stock.

Altice USA Price Performance

NYSE:ATUS opened at $2.41 on Friday. The business has a fifty day simple moving average of $2.48 and a two-hundred day simple moving average of $2.19. Altice USA, Inc. has a 1 year low of $1.52 and a 1 year high of $3.66. The company has a market capitalization of $1.11 billion, a P/E ratio of -6.51 and a beta of 1.52.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results 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). The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. Altice USA’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share. As a group, analysts anticipate that Altice USA, Inc. will post -0.01 earnings per share for the current year.

Insider Activity

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 38,860,998 shares in the company, valued at $952,094,451. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 8,052,270 shares of company stock worth $197,280,615. 52.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ATUS. TD Cowen dropped 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 lowered Altice USA from a “buy” rating to a “neutral” rating and dropped their target price for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.22.

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.