Altice USA, Inc. (NYSE:ATUS) Short Interest Update

Altice USA, Inc. (NYSE:ATUS) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 25,400,000 shares, a decline of 5.9% from the October 15th total of 26,990,000 shares. Approximately 12.3% of the shares of the company are short sold. Based on an average trading volume of 3,420,000 shares, the days-to-cover ratio is currently 7.4 days.

Altice USA Stock Performance

NYSE ATUS opened at $2.47 on Monday. Altice USA has a one year low of $1.52 and a one year high of $3.66. The business has a fifty day moving average price of $2.41 and a 200 day moving average price of $2.16. The company has a market cap of $1.14 billion, a P/E ratio of -6.68, a P/E/G ratio of 49.18 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 net margin of 1.85% and a negative return on equity of 1.54%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the company earned $0.15 earnings per share. Altice USA’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, sell-side analysts predict that Altice USA will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on ATUS shares. TD Cowen cut their price objective on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, November 5th. UBS Group lowered 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 report on Friday, August 2nd. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.22.

Insider Buying and Selling at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the sale, the director now directly owns 38,860,998 shares of the company’s stock, valued at $952,094,451. This represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 6,441,816 shares of company stock valued at $157,824,492. 52.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATUS. Geode Capital Management LLC lifted its position in Altice USA by 7.7% during the third quarter. Geode Capital Management LLC now owns 2,682,757 shares of the company’s stock worth $6,602,000 after buying an additional 191,508 shares in the last quarter. Barclays PLC increased its stake in shares of Altice USA by 120.3% in the 3rd quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock worth $3,756,000 after acquiring an additional 834,030 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Altice USA by 476.7% during the 3rd quarter. XTX Topco Ltd now owns 468,969 shares of the company’s stock worth $1,154,000 after acquiring an additional 387,655 shares during the period. Wolverine Trading LLC acquired a new position in shares of Altice USA during the 3rd quarter valued at about $39,000. Finally, State Street Corp boosted its position in shares of Altice USA by 2.8% during the 3rd quarter. State Street Corp now owns 1,534,608 shares of the company’s stock valued at $3,775,000 after acquiring an additional 41,868 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.

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.