Altice USA (NYSE:ATUS) Stock Price Down 3.1% – What’s Next?

Altice USA, Inc. (NYSE:ATUS) was down 3.1% during mid-day trading on Friday . The stock traded as low as $2.52 and last traded at $2.52. Approximately 871,650 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,485,420 shares. The stock had previously closed at $2.60.

Wall Street Analyst Weigh In

Separately, TD Cowen dropped their target price 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. Five research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Altice USA presently has an average rating of “Hold” and an average target price of $2.22.

Altice USA Price Performance

The stock has a market cap of $1.11 billion, a PE ratio of -6.51 and a beta of 1.52. The business has a fifty day moving average of $2.48 and a 200-day moving average of $2.19.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. Altice USA’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. As a group, equities research analysts predict that Altice USA, Inc. will post -0.01 EPS for the current year.

Insider Buying and Selling at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 8,052,270 shares of company stock valued at $197,280,615. Company insiders own 52.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. 140 Summer Partners LP purchased a new position in Altice USA in the third quarter valued at about $9,004,000. King Street Capital Management L.P. bought a new stake in shares of Altice USA in the 2nd quarter valued at about $5,100,000. LMR Partners LLP grew its position in shares of Altice USA by 217.5% in the 3rd quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after buying an additional 2,055,000 shares during the last quarter. Empyrean Capital Partners LP bought a new position in shares of Altice USA during the 2nd quarter worth approximately $4,080,000. Finally, Paloma Partners Management Co lifted its position in Altice USA by 172.6% during the third quarter. Paloma Partners Management Co now owns 2,210,941 shares of the company’s stock valued at $5,439,000 after acquiring an additional 1,400,000 shares during the last quarter. 54.85% of the stock is owned by institutional investors.

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.