Taconic Capital Advisors LP Lowers Stock Position in Altice USA, Inc. (NYSE:ATUS)

Taconic Capital Advisors LP lessened its position in Altice USA, Inc. (NYSE:ATUS) by 13.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 950,000 shares of the company’s stock after selling 150,000 shares during the period. Altice USA comprises approximately 1.2% of Taconic Capital Advisors LP’s holdings, making the stock its 9th biggest holding. Taconic Capital Advisors LP owned about 0.21% of Altice USA worth $2,337,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB bought a new stake in shares of Altice USA in the 1st quarter valued at about $66,000. Massachusetts Financial Services Co. MA boosted its position in Altice USA by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock worth $11,566,000 after acquiring an additional 24,501 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Altice USA during the 2nd quarter worth approximately $25,000. XTX Topco Ltd boosted its position in Altice USA by 112.1% during the 2nd quarter. XTX Topco Ltd now owns 81,314 shares of the company’s stock worth $166,000 after acquiring an additional 42,975 shares during the last quarter. Finally, King Street Capital Management L.P. acquired a new position in Altice USA during the 2nd quarter worth approximately $5,100,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

Insider Activity

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the sale, the director now directly owns 38,055,771 shares of the company’s stock, valued at approximately $932,366,389.50. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 8,052,270 shares of company stock valued at $197,280,615. 52.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ATUS. TD Cowen reduced their price target on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, November 5th. UBS Group downgraded Altice USA from a “buy” rating to a “neutral” rating and cut their price objective for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Five investment 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’s stock. According to data from MarketBeat.com, Altice USA has an average rating of “Hold” and a consensus target price of $2.22.

Altice USA Price Performance

ATUS stock opened at $2.60 on Friday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -7.03, a PEG ratio of 50.97 and a beta of 1.52. The business’s fifty day moving average price is $2.48 and its two-hundred day moving average price is $2.19. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.66.

Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the business posted $0.15 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Research analysts expect that Altice USA, Inc. will post 0.01 EPS for the current year.

Altice USA 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.