Altice USA, Inc. (NYSE:ATUS) Sees Significant Decrease in Short Interest

Altice USA, Inc. (NYSE:ATUS) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 25,400,000 shares, a decrease of 5.9% from the October 15th total of 26,990,000 shares. Approximately 12.3% of the shares of the stock are sold short. Based on an average daily volume of 3,420,000 shares, the days-to-cover ratio is presently 7.4 days.

Altice USA Trading Up 0.6 %

Shares of NYSE ATUS opened at $2.39 on Wednesday. The stock has a market cap of $1.10 billion, a P/E ratio of -6.45, a PEG ratio of 49.18 and a beta of 1.52. Altice USA has a 12-month low of $1.52 and a 12-month high of $3.66. The business’s fifty day simple moving average is $2.42 and its 200-day simple moving average is $2.16.

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

Analyst Ratings Changes

A number of equities analysts have commented on ATUS shares. TD Cowen reduced their target price on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. UBS Group cut Altice USA from a “buy” rating to a “neutral” rating and reduced their target price for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Altice USA presently has an average rating of “Hold” and a consensus target price of $2.22.

Insider Buying and Selling

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction that occurred on Thursday, November 14th. 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 27,587,820 shares of the company’s stock, valued at $675,901,590. This represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 6,441,816 shares of company stock valued at $157,824,492. 52.90% of the stock is owned by company insiders.

Institutional Trading of Altice USA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Altice USA during the second quarter worth about $25,000. Quadrature Capital Ltd acquired a new stake in shares of Altice USA during the third quarter worth about $27,000. D.A. Davidson & CO. acquired a new stake in shares of Altice USA during the third quarter worth about $32,000. Wolverine Trading LLC acquired a new stake in shares of Altice USA during the third quarter worth about $39,000. Finally, US Bancorp DE increased its position in shares of Altice USA by 30.2% during the third quarter. US Bancorp DE now owns 21,530 shares of the company’s stock worth $53,000 after purchasing an additional 5,000 shares in the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.

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.