Altice USA (NYSE:ATUS) Upgraded at Raymond James

Altice USA (NYSE:ATUS) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $3.50 target price on the stock. Raymond James’ price target points to a potential upside of 23.46% from the company’s previous close.

ATUS has been the subject of several other research reports. TD Cowen decreased their price objective on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. Citigroup boosted their price target on shares of Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.41.

Altice USA Stock Performance

Shares of NYSE ATUS opened at $2.84 on Tuesday. The company’s 50 day moving average price is $2.66 and its 200-day moving average price is $2.39. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.20. The company has a market capitalization of $1.31 billion, a P/E ratio of -7.66 and a beta of 1.52.

Altice USA (NYSE:ATUS) last released its earnings results on Thursday, February 13th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). Analysts forecast that Altice USA will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the sale, the director now owns 19,535,550 shares in the company, valued at approximately $478,620,975. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 8,052,288 shares of company stock worth $197,281,056. 52.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Altice USA

Institutional investors have recently made changes to their positions in the company. Wolverine Trading LLC bought a new stake in Altice USA in the 3rd quarter worth approximately $39,000. Point72 Asset Management L.P. grew its holdings in shares of Altice USA by 487.3% in the third quarter. Point72 Asset Management L.P. now owns 880,985 shares of the company’s stock worth $2,167,000 after acquiring an additional 730,985 shares during the period. Algert Global LLC increased its position in Altice USA by 101.3% during the third quarter. Algert Global LLC now owns 639,005 shares of the company’s stock valued at $1,572,000 after acquiring an additional 321,618 shares during the last quarter. Barclays PLC lifted its holdings in Altice USA by 120.3% in the third quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock valued at $3,756,000 after acquiring an additional 834,030 shares during the period. Finally, LMR Partners LLP boosted its position in Altice USA by 217.5% in the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after purchasing an additional 2,055,000 shares during the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.