Alt S.A.R.L. Next Sells 805,227 Shares of Altice USA, Inc. (NYSE:ATUS) Stock

Altice USA, Inc. (NYSE:ATUS) Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction on Monday, October 28th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the transaction, the director now owns 38,055,771 shares of the company’s stock, valued at approximately $932,366,389.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 shares were sold at an average price of $24.50, for a total value of $19,728,061.50.

Altice USA Stock Performance

NYSE ATUS opened at $2.51 on Thursday. The stock has a fifty day moving average of $2.24 and a 200-day moving average of $2.10. The stock has a market capitalization of $1.15 billion, a P/E ratio of 251.00, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.66.

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

Institutional Investors Weigh In On Altice USA

Several hedge funds and other institutional investors have recently made changes to their positions in ATUS. King Street Capital Management L.P. acquired a new stake in shares of Altice USA in the 2nd quarter valued at $5,100,000. Empyrean Capital Partners LP acquired a new stake in shares of Altice USA during the second quarter worth $4,080,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Altice USA during the first quarter worth $1,914,000. Aristeia Capital L.L.C. acquired a new stake in shares of Altice USA during the second quarter worth $657,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Altice USA during the first quarter worth $687,000. 54.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, 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 research report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $1.97.

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.