Altice USA (NYSE:ATUS) Shares Down 6.2% on Insider Selling

Altice USA, Inc. (NYSE:ATUS) traded down 6.2% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $2.42 and last traded at $2.42. 1,475,947 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 3,484,560 shares. The stock had previously closed at $2.58.

Specifically, Director Alt S.A.R.L. Next sold 805,227 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the transaction, the director now directly owns 16,314,642 shares in the company, valued at approximately $399,708,729. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alt S.A.R.L. Next sold 805,227 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the transaction, the director now directly owns 17,925,096 shares of the company’s stock, valued at $439,164,852. This trade represents a 4.30 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their price target on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.22.

Altice USA Price Performance

The business has a 50-day simple moving average of $2.50 and a two-hundred day simple moving average of $2.20. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -6.49 and a beta of 1.53.

Altice USA (NYSE:ATUS) last posted its 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 company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 EPS. As a group, equities analysts anticipate that Altice USA, Inc. will post -0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd bought a new position in Altice USA in the third quarter valued at approximately $27,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Altice USA during the 2nd quarter worth approximately $25,000. D.A. Davidson & CO. bought a new stake in Altice USA during the 3rd quarter worth approximately $32,000. Wolverine Trading LLC acquired a new position in Altice USA in the 3rd quarter valued at approximately $39,000. Finally, US Bancorp DE increased its stake in shares of Altice USA by 30.2% in the third quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after buying an additional 5,000 shares during the period. 54.85% of the stock is currently owned by institutional investors and hedge funds.

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.