Altice USA (NYSE:ATUS) Trading Up 6.5% – Here’s What Happened

Altice USA, Inc. (NYSE:ATUS) shares were up 6.5% during trading on Monday . The stock traded as high as $2.47 and last traded at $2.46. Approximately 1,836,188 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 3,122,151 shares. The stock had previously closed at $2.31.

Analyst Upgrades and Downgrades

Separately, Raymond James upgraded Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 price target for the company in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Altice USA has a consensus rating of “Hold” and a consensus target price of $2.44.

Altice USA Trading Down 6.3 %

The firm has a 50-day moving average price of $2.62 and a 200-day moving average price of $2.58. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -10.02 and a beta of 1.65.

Altice USA (NYSE:ATUS) last released its earnings results on Thursday, February 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). Equities research analysts predict that Altice USA, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Trading of Altice USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC acquired a new stake in shares of Altice USA during the 4th quarter valued at $25,000. Raymond James Financial Inc. purchased a new stake in shares of Altice USA during the fourth quarter valued at $30,000. Wolverine Trading LLC acquired a new position in shares of Altice USA in the 3rd quarter valued at $39,000. Dynamic Technology Lab Private Ltd purchased a new position in Altice USA in the 4th quarter worth about $43,000. Finally, State of Wyoming acquired a new stake in Altice USA during the 4th quarter worth about $57,000. 54.85% of the stock is owned by institutional investors and hedge funds.

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.