Insider Selling: Altice USA, Inc. (NYSE:ATUS) Director Sells 805,227 Shares of Stock

Altice USA, Inc. (NYSE:ATUS) Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction on 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 in the company, valued at $932,366,389.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Alt S.A.R.L. Next also recently made the following trade(s):

• On Friday, October 25th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50.

Altice USA Stock Up 0.4 %

Shares of Altice USA stock traded up $0.01 during trading on Tuesday, reaching $2.58. The company’s stock had a trading volume of 3,074,152 shares, compared to its average volume of 3,407,756. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.66. The firm has a market cap of $1.19 billion, a PE ratio of 258.50, a P/E/G ratio of 3.27 and a beta of 1.53. The business’s 50-day moving average price is $2.21 and its 200-day moving average price is $2.10.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the firm earned $0.17 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts predict that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Altice USA

Large investors have recently added to or reduced their stakes in the stock. Aristeia Capital L.L.C. acquired a new position in Altice USA in the 2nd quarter valued at $657,000. King Street Capital Management L.P. bought a new stake in Altice USA during the second quarter worth $5,100,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Altice USA in the 1st quarter valued at $1,914,000. Empyrean Capital Partners LP bought a new position in shares of Altice USA in the 2nd quarter valued at $4,080,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Altice USA during the 2nd quarter worth $183,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ATUS shares. The Goldman Sachs Group started coverage on Altice USA in a report on Monday, July 1st. They set a “sell” rating and a $2.00 price target for the company. UBS Group cut Altice USA from a “buy” rating to a “neutral” rating and dropped their price target for the company from $4.00 to $2.00 in a research note on Friday, August 2nd. Finally, Evercore ISI reduced their price objective on shares of Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $1.97.

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.