Hsbc Holdings PLC Purchases 225,053 Shares of Altice USA, Inc. (NYSE:ATUS)

Posted by on Feb 28th, 2023

Hsbc Holdings PLC raised its holdings in shares of Altice USA, Inc. (NYSE:ATUS – Get Rating) by 116.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 418,083 shares of the company’s stock after purchasing an additional 225,053 shares during the quarter. Hsbc Holdings PLC owned 0.09% of Altice USA worth $2,440,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ATUS. Deseret Mutual Benefit Administrators increased its position in shares of Altice USA by 69.5% during the second quarter. Deseret Mutual Benefit Administrators now owns 2,841 shares of the company’s stock worth $26,000 after acquiring an additional 1,165 shares in the last quarter. Castleview Partners LLC raised its stake in shares of Altice USA by 825.0% in the second quarter. Castleview Partners LLC now owns 1,850 shares of the company’s stock worth $200,000 after purchasing an additional 1,650 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Altice USA by 9.6% in the second quarter. LPL Financial LLC now owns 20,815 shares of the company’s stock valued at $193,000 after purchasing an additional 1,830 shares in the last quarter. First Republic Investment Management Inc. boosted its position in shares of Altice USA by 10.2% during the first quarter. First Republic Investment Management Inc. now owns 21,131 shares of the company’s stock valued at $264,000 after buying an additional 1,953 shares during the last quarter. Finally, Yousif Capital Management LLC grew its holdings in Altice USA by 15.3% during the second quarter. Yousif Capital Management LLC now owns 16,441 shares of the company’s stock worth $152,000 after buying an additional 2,185 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ATUS shares. Cowen dropped their price objective on Altice USA from $21.00 to $18.00 in a research note on Thursday, February 23rd. Royal Bank of Canada cut their price target on shares of Altice USA from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. Evercore ISI decreased their price objective on shares of Altice USA to $5.00 in a research note on Friday, December 2nd. New Street Research downgraded Altice USA from a “buy” rating to a “neutral” rating in a research note on Thursday, December 1st. Finally, Barclays decreased their price target on Altice USA from $4.00 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.96.

Altice USA Price Performance

Altice USA stock opened at $3.72 on Tuesday. Altice USA, Inc. has a one year low of $3.67 and a one year high of $13.17. The firm has a market capitalization of $1.69 billion, a P/E ratio of 8.86, a PEG ratio of 0.75 and a beta of 1.37. The business has a fifty day moving average price of $4.62 and a 200-day moving average price of $5.94.

Altice USA (NYSE:ATUS – Get Rating) last posted its earnings results on Wednesday, February 22nd. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.65). Altice USA had a net margin of 2.02% and a negative return on equity of 51.00%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the firm earned $0.56 EPS. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Sell-side analysts expect that Altice USA, Inc. will post 0.35 earnings per share for the current fiscal year.

Altice USA Profile

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Altice USA, Inc engages in the provision of broadband, pay television, telephony services, proprietary content, and advertising services. Its brands include Optimum, Suddenlink, Optimum Mobile, Altice Business, News 12 Networks, Cheddar News, a4 Advertising, and i24 News. The company was founded by Patrick Drahi in 2001 and is headquartered in Long Island City, NY.

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Institutional Ownership by Quarter for Altice USA (NYSE:ATUS)

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