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 Altice USA stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the sale, the director now owns 34,029,636 shares in the company, valued at $833,726,082. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 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 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 value of $19,728,061.50.

Altice USA Stock Performance

NYSE:ATUS traded down $0.04 during mid-day trading on Tuesday, hitting $2.55. 7,237,235 shares of the company’s stock traded hands, compared to its average volume of 3,471,430. The company has a market cap of $1.17 billion, a PE ratio of -7.00, a price-to-earnings-growth ratio of 9.87 and a beta of 1.52. The firm’s 50 day simple moving average is $2.29 and its 200 day simple moving average is $2.12. Altice USA, Inc. has a 1 year low of $1.52 and a 1 year high of $3.66.

Altice USA (NYSE:ATUS) last issued 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 return on equity of 1.54% and a negative net margin of 0.62%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business earned $0.15 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, research analysts expect that Altice USA, Inc. will post 0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ATUS has been the subject of a number of analyst reports. UBS Group downgraded shares of Altice USA from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. TD Cowen reduced their price target on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday. Six research 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.12.

Institutional Trading of Altice USA

Several institutional investors and hedge funds have recently made changes to their positions in ATUS. Vanguard Personalized Indexing Management LLC acquired a new stake in Altice USA during the second quarter worth approximately $25,000. Headlands Technologies LLC acquired a new position in Altice USA in the 1st quarter valued at $46,000. US Bancorp DE lifted its stake in shares of Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock worth $53,000 after purchasing an additional 5,000 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Altice USA during the first quarter worth $65,000. Finally, Swedbank AB purchased a new stake in shares of Altice USA in the first quarter valued at $66,000. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

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.