Altice USA (NYSE:ATUS) Shares Down 5% After Insider Selling

Shares of Altice USA, Inc. (NYSE:ATUS) fell 5% during trading on Tuesday following insider selling activity. The stock traded as low as $2.49 and last traded at $2.49. 192,076 shares traded hands during trading, a decline of 94% from the average session volume of 3,484,631 shares. The stock had previously closed at $2.62.

Specifically, Director Alt S.A.R.L. Next sold 805,230 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the transaction, the director now owns 11,483,262 shares in the company, valued at $281,339,919. The trade was a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alt S.A.R.L. Next sold 805,230 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $24.50, for a total value of $19,728,135.00. Following the transaction, the director now owns 13,093,722 shares in the company, valued at $320,796,189. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several analysts recently weighed in on ATUS shares. Citigroup upped their price target on Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. TD Cowen cut their target price on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.30.

Altice USA Stock Down 5.0 %

The company has a market capitalization of $1.15 billion, a PE ratio of -7.08 and a beta of 1.53. The company’s 50 day moving average is $2.51 and its two-hundred day moving average is $2.20.

Altice USA (NYSE:ATUS) last issued its earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the firm posted $0.15 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. Analysts forecast that Altice USA, Inc. will post -0.01 EPS for the current year.

Hedge Funds Weigh In On Altice USA

Institutional investors and hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its stake in shares of Altice USA by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock valued at $11,566,000 after buying an additional 24,501 shares during the last quarter. Cerberus Capital Management L.P. increased its stake in shares of Altice USA by 6.8% during the third quarter. Cerberus Capital Management L.P. now owns 3,940,785 shares of the company’s stock valued at $9,694,000 after buying an additional 250,000 shares during the period. 140 Summer Partners LP bought a new stake in shares of Altice USA in the 3rd quarter valued at about $9,004,000. LMR Partners LLP raised its stake in Altice USA by 217.5% in the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after buying an additional 2,055,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Altice USA by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,682,757 shares of the company’s stock worth $6,602,000 after purchasing an additional 191,508 shares during the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.