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 on Tuesday, November 12th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now directly owns 29,198,274 shares in the company, valued at approximately $715,357,713. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, November 8th, 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, November 4th, 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, 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 shares were 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 stock was sold at an average price of $24.50, for a total value of $19,728,061.50.

Altice USA Stock Performance

NYSE ATUS opened at $2.61 on Friday. The business’s fifty day moving average is $2.40 and its 200 day moving average is $2.15. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.66. The company 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 posted its quarterly earnings data on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Altice USA, Inc. will post 0.01 EPS for the current year.

Analyst Ratings Changes

ATUS has been the topic of several recent analyst reports. TD Cowen cut their price objective on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and decreased their target price for the stock 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 given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.12.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Aristeia Capital L.L.C. bought a new stake in Altice USA during the 2nd quarter valued at approximately $657,000. King Street Capital Management L.P. bought a new stake in shares of Altice USA in the second quarter worth about $5,100,000. Empyrean Capital Partners LP bought a new stake in shares of Altice USA in the second quarter worth about $4,080,000. Squarepoint Ops LLC purchased a new stake in shares of Altice USA in the second quarter worth about $183,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Altice USA during the first quarter valued at approximately $687,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.