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 the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the sale, the director now directly owns 34,029,636 shares in the company, valued at approximately $833,726,082. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Friday, November 1st, 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 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 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 Trading Up 1.2 %

Shares of ATUS stock opened at $2.63 on Friday. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.66. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -7.11, a PEG ratio of 9.68 and a beta of 1.52. The stock has a 50-day moving average of $2.31 and a 200-day moving average of $2.12.

Altice USA (NYSE:ATUS) last released 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). The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 EPS. Sell-side analysts forecast that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Analysts Set New Price Targets

ATUS has been the subject of several research analyst reports. TD Cowen lowered their price target on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday. UBS Group downgraded Altice USA from a “buy” rating to a “neutral” rating and dropped their target price for the company from $4.00 to $2.00 in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.12.

Hedge Funds Weigh In On Altice USA

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aristeia Capital L.L.C. bought a new position in shares of Altice USA in the 2nd quarter worth about $657,000. King Street Capital Management L.P. acquired a new stake in Altice USA during the second quarter worth approximately $5,100,000. Susquehanna Fundamental Investments LLC bought a new stake in Altice USA in the first quarter worth approximately $1,914,000. Empyrean Capital Partners LP acquired a new position in Altice USA in the second quarter valued at approximately $4,080,000. Finally, Squarepoint Ops LLC bought a new position in shares of Altice USA during the 2nd quarter worth approximately $183,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

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.