Insider Selling: Altice USA, Inc. (NYSE:ATUS) Director Sells $19,728,061.50 in 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 Friday, November 8th. 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 owns 30,808,728 shares in the company, valued at approximately $754,813,836. The trade was a 2.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, November 12th, 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 Monday, November 4th, 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 value of $19,728,061.50.
• On Friday, November 1st, 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.
• On Wednesday, October 30th, 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 value of $19,728,061.50.
• 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 value 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 Trading Down 2.2 %

Shares of NYSE ATUS opened at $2.61 on Friday. The firm has a fifty day simple moving average of $2.40 and a two-hundred day simple moving average of $2.15. Altice USA, Inc. has a 12 month low of $1.52 and a 12 month high of $3.66. The firm has a market capitalization of $1.20 billion, a PE ratio of -7.27, a price-to-earnings-growth ratio of 55.55 and a beta of 1.52.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ATUS. Massachusetts Financial Services Co. MA boosted its position in shares of Altice USA by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock valued at $11,566,000 after purchasing an additional 24,501 shares in the last quarter. 140 Summer Partners LP bought a new stake in shares of Altice USA during the 3rd quarter valued at $9,004,000. 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 period. King Street Capital Management L.P. bought a new position in shares of Altice USA in the 2nd quarter worth about $5,100,000. Finally, Apollo Management Holdings L.P. lifted its position in Altice USA by 4.6% during the 1st quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock valued at $5,955,000 after acquiring an additional 100,000 shares during the period. Institutional investors own 54.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ATUS. TD Cowen dropped their price target on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, November 5th. UBS Group downgraded shares of Altice USA from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $4.00 to $2.00 in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.12.

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.