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 company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the transaction, the director now owns 38,055,771 shares in the company, valued at $932,366,389.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 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 transaction of $19,728,061.50.

Altice USA Stock Performance

NYSE ATUS opened at $2.43 on Friday. The firm’s 50 day moving average price is $2.26 and its 200-day moving average price is $2.11. Altice USA, Inc. has a 52-week low of $1.52 and a 52-week high of $3.66. The company has a market cap of $1.12 billion, a PE ratio of 243.00, a P/E/G ratio of 3.27 and a beta of 1.53.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the business posted $0.17 earnings per share. Altice USA’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts forecast that Altice USA, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC purchased a new stake in Altice USA during the second quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new stake in Altice USA during the first quarter valued at approximately $46,000. US Bancorp DE lifted its position in Altice USA by 30.2% during the third quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after acquiring an additional 5,000 shares during the last quarter. Alpine Global Management LLC purchased a new stake in Altice USA during the first quarter valued at approximately $65,000. Finally, Swedbank AB purchased a new stake in Altice USA during the first quarter valued at approximately $66,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group downgraded shares of Altice USA from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1.97.

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.