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 that occurred on Tuesday, November 12th. 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 sale, the director now owns 29,198,274 shares of the company’s stock, valued at $715,357,713. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, November 14th, 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.
• On Friday, November 8th, 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 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 shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50.
• On Monday, October 28th, 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.
• 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 transaction of $19,728,061.50.

Altice USA Stock Down 5.6 %

Shares of Altice USA stock opened at $2.47 on Friday. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.66. The stock’s 50-day simple moving average is $2.40 and its 200-day simple moving average is $2.15. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -6.66, a PEG ratio of 53.16 and a beta of 1.52.

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

Hedge Funds Weigh In On Altice USA

A number of hedge funds and other institutional investors have recently modified their holdings of ATUS. Barclays PLC lifted its position in shares of Altice USA by 120.3% in the third quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock worth $3,756,000 after buying an additional 834,030 shares in the last quarter. XTX Topco Ltd increased its stake in Altice USA by 476.7% in the 3rd quarter. XTX Topco Ltd now owns 468,969 shares of the company’s stock worth $1,154,000 after acquiring an additional 387,655 shares during the last quarter. Wolverine Trading LLC purchased a new stake in shares of Altice USA during the 3rd quarter worth approximately $39,000. State Street Corp boosted its position in shares of Altice USA by 2.8% during the 3rd quarter. State Street Corp now owns 1,534,608 shares of the company’s stock valued at $3,775,000 after acquiring an additional 41,868 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Altice USA during the 3rd quarter valued at approximately $27,000. Institutional investors own 54.85% of the company’s stock.

Analyst Upgrades and Downgrades

ATUS has been the topic of several analyst reports. UBS Group cut 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 note on Friday, August 2nd. TD Cowen lowered their target price 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. Six investment 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.