Bracebridge Capital LLC Increases Position in Altice USA, Inc. (NYSE:ATUS)

Bracebridge Capital LLC boosted its holdings in Altice USA, Inc. (NYSE:ATUS) by 35.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,854,977 shares of the company’s stock after purchasing an additional 2,322,337 shares during the period. Altice USA comprises about 1.5% of Bracebridge Capital LLC’s portfolio, making the stock its 6th largest holding. Bracebridge Capital LLC owned 1.92% of Altice USA worth $21,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in Altice USA by 238.7% during the fourth quarter. JPMorgan Chase & Co. now owns 6,444,193 shares of the company’s stock worth $15,531,000 after acquiring an additional 4,541,359 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Altice USA by 32.8% in the 4th quarter. Renaissance Technologies LLC now owns 4,181,200 shares of the company’s stock valued at $10,077,000 after purchasing an additional 1,033,200 shares during the last quarter. Barclays PLC grew its holdings in Altice USA by 120.3% during the third quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock worth $3,756,000 after purchasing an additional 834,030 shares during the period. ExodusPoint Capital Management LP acquired a new position in Altice USA during the fourth quarter worth approximately $1,007,000. Finally, Vanguard Group Inc. raised its stake in Altice USA by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 22,291,467 shares of the company’s stock valued at $53,722,000 after buying an additional 208,478 shares during the period. 54.85% of the stock is owned by institutional investors.

Altice USA Trading Down 4.8 %

NYSE:ATUS opened at $2.20 on Tuesday. The stock has a 50 day simple moving average of $2.58 and a 200 day simple moving average of $2.57. The stock has a market cap of $1.02 billion, a P/E ratio of -9.56 and a beta of 1.65. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.20.

Altice USA (NYSE:ATUS) last posted its earnings results on Thursday, February 13th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). As a group, sell-side analysts forecast that Altice USA, Inc. will post -0.24 EPS for the current year.

Analysts Set New Price Targets

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

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.