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 Altice USA stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the transaction, the director now directly owns 36,445,317 shares of the company’s stock, valued at $892,910,266.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50.

Altice USA Price Performance

Altice USA stock traded down $0.09 during mid-day trading on Thursday, hitting $2.43. The company’s stock had a trading volume of 1,751,741 shares, compared to its average volume of 3,398,932. The business has a 50 day moving average price of $2.24 and a 200-day moving average price of $2.10. Altice USA, Inc. has a 12 month low of $1.52 and a 12 month high of $3.66. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 251.00, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53.

Altice USA (NYSE:ATUS) last released its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share 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 company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the firm posted $0.17 EPS. The company’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts expect that Altice USA, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Altice USA

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Altice USA in the 2nd quarter worth approximately $25,000. Headlands Technologies LLC bought a new position in Altice USA in the 1st quarter worth $46,000. US Bancorp DE lifted its position in shares of Altice USA by 30.2% in 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 bought a new stake in shares of Altice USA during the 1st quarter valued at about $65,000. Finally, Swedbank AB purchased a new position in shares of Altice USA during the first quarter valued at about $66,000. Institutional investors own 54.85% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group cut shares of Altice USA from a “buy” rating to a “neutral” rating and cut their price target for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Altice USA currently has a consensus rating of “Hold” and a consensus target price 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.