Insider Selling: Altice USA, Inc. (NYSE:ATUS) Director Sells $19,728,135.00 in Stock

Posted by Joseph Griffin on Dec 19th, 2024

Altice USA, Inc. (NYSE:ATUS – Get Free Report) Director Alt S.A.R.L. Next sold 805,230 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the completion of the transaction, the director now directly owns 11,483,262 shares in the company, valued at $281,339,919. This represents a 6.55 % decrease in their position. The transaction 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, December 17th, Alt S.A.R.L. Next sold 805,230 shares of Altice USA stock. The stock was sold at an average price of $24.50, for a total transaction of $19,728,135.00.
On Wednesday, December 11th, Alt S.A.R.L. Next sold 805,230 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total transaction of $19,728,135.00.
On Monday, December 9th, Alt S.A.R.L. Next sold 805,230 shares of Altice USA stock. The stock was sold at an average price of $24.50, for a total value of $19,728,135.00.
On Thursday, December 5th, 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 Tuesday, December 3rd, 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, November 29th, 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 Tuesday, November 26th, 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 Tuesday, November 19th, 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 Thursday, November 14th, 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 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 value of $19,728,061.50.

Altice USA Stock Down 2.0 %

ATUS opened at $2.50 on Thursday. The company has a market cap of $1.15 billion, a P/E ratio of -6.76 and a beta of 1.53. The firm’s 50-day moving average price is $2.51 and its 200-day moving average price is $2.21. Altice USA, Inc. has a 52-week low of $1.52 and a 52-week high of $3.66.

Altice USA (NYSE:ATUS – Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) 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 analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $0.15 EPS. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, research analysts anticipate that Altice USA, Inc. will post -0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ATUS has been the subject of a number of analyst reports. TD Cowen decreased their price objective on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Citigroup increased their price target on shares of Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Altice USA currently has a consensus rating of “Hold” and an average target price of $2.30.

Check Out Our Latest Stock Analysis on ATUS

Hedge Funds Weigh In On Altice USA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 140 Summer Partners LP purchased a new position in Altice USA during the 3rd quarter worth approximately $9,004,000. King Street Capital Management L.P. acquired a new stake in shares of Altice USA in the second quarter worth $5,100,000. LMR Partners LLP raised its holdings in shares of Altice USA by 217.5% during the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after purchasing an additional 2,055,000 shares during the last quarter. Empyrean Capital Partners LP acquired a new position in Altice USA during the second quarter valued at $4,080,000. Finally, Paloma Partners Management Co boosted its holdings in Altice USA by 172.6% in the third quarter. Paloma Partners Management Co now owns 2,210,941 shares of the company’s stock valued at $5,439,000 after purchasing an additional 1,400,000 shares during the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.

About Altice USA

(Get Free Report)

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.