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 firm’s stock in a transaction on Friday, November 8th. The stock was 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 30,808,728 shares of the company’s stock, valued at approximately $754,813,836. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing 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, November 12th, 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 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 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 shares were sold at an average price of $24.50, for a total transaction 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 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 Price Performance

Shares of ATUS stock opened at $2.69 on Thursday. The firm’s 50-day moving average is $2.38 and its two-hundred day moving average is $2.15. Altice USA, Inc. has a 12 month low of $1.52 and a 12 month high of $3.66. The company has a market capitalization of $1.24 billion, a PE ratio of -7.22, a price-to-earnings-growth ratio of 55.55 and a beta of 1.52.

Altice USA (NYSE:ATUS) last issued its 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 firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the firm earned $0.15 earnings per share. Altice USA’s revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts forecast that Altice USA, Inc. will post 0.01 EPS for the current year.

Analyst Upgrades and Downgrades

ATUS has been the topic of several analyst reports. TD Cowen dropped their price target 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 shares of 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 research 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.12.

Institutional Investors Weigh In On Altice USA

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Altice USA by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock valued at $11,566,000 after acquiring an additional 24,501 shares during the period. LMR Partners LLP raised its stake in shares of Altice USA by 217.5% in the 3rd quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock valued at $7,380,000 after acquiring an additional 2,055,000 shares during the period. King Street Capital Management L.P. purchased a new stake in shares of Altice USA in the 2nd quarter valued at approximately $5,100,000. Apollo Management Holdings L.P. raised its stake in shares of Altice USA by 4.6% in the 1st quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock valued at $5,955,000 after acquiring an additional 100,000 shares during the period. Finally, Empyrean Capital Partners LP purchased a new stake in shares of Altice USA in the 2nd quarter valued at approximately $4,080,000. 54.85% of the stock is 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.