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 stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the transaction, the director now owns 36,445,317 shares in the company, valued at $892,910,266.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, October 28th, 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 transaction of $19,728,061.50.
• 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 8.6 %

Altice USA stock opened at $2.64 on Friday. The firm has a market capitalization of $1.22 billion, a P/E ratio of -20.31, a PEG ratio of 9.42 and a beta of 1.53. The firm has a fifty day moving average of $2.27 and a 200-day moving average of $2.11. Altice USA, Inc. has a 52-week low of $1.52 and a 52-week high of $3.66.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts expect that Altice USA, Inc. will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, UBS Group lowered shares of Altice USA from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $1.97.

Institutional Investors Weigh In On Altice USA

Hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in Altice USA in the second quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new stake in Altice USA during the 1st quarter valued at $46,000. US Bancorp DE increased its stake in Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock worth $53,000 after buying an additional 5,000 shares during the period. Alpine Global Management LLC purchased a new stake in Altice USA during the 1st quarter worth $65,000. Finally, Swedbank AB purchased a new position in Altice USA in the 1st quarter valued at about $66,000. 54.85% of the stock is currently owned by hedge funds and other 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.