Alt S.A.R.L. Next Sells 805,227 Shares of Altice USA, Inc. (NYSE:ATUS) 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, 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 owns 38,860,998 shares in the company, valued at $952,094,451. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Altice USA Stock Up 1.8 %

Altice USA stock opened at $2.59 on Tuesday. The company’s 50-day moving average price is $2.21 and its 200-day moving average price is $2.10. Altice USA, Inc. has a twelve month low of $1.52 and a twelve month high of $3.66. The company has a market cap of $1.19 billion, a PE ratio of 258.50, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53.

Altice USA (NYSE:ATUS) last posted 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 return on equity of 1.54% and a negative net margin of 0.62%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Altice USA, Inc. will post 0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ATUS has been the topic of a number of research reports. Evercore ISI reduced their price target on shares of Altice USA from $3.00 to $2.00 and set an “in-line” rating on the stock in a report on Tuesday, July 2nd. UBS Group downgraded shares of Altice USA from a “buy” rating to a “neutral” rating and reduced their price target for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Finally, The Goldman Sachs Group initiated coverage on shares of Altice USA in a report on Monday, July 1st. They issued a “sell” rating and a $2.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $1.97.

Hedge Funds Weigh In On Altice USA

A number of large investors have recently made changes to their positions in ATUS. SG Americas Securities LLC boosted its stake in shares of Altice USA by 45.2% during the 1st quarter. SG Americas Securities LLC now owns 58,098 shares of the company’s stock worth $152,000 after purchasing an additional 18,080 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Altice USA in the 1st quarter valued at about $1,914,000. Headlands Technologies LLC purchased a new stake in Altice USA in the 1st quarter valued at about $46,000. State Board of Administration of Florida Retirement System bought a new position in Altice USA in the 1st quarter worth about $687,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Altice USA by 13.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 460,585 shares of the company’s stock worth $1,193,000 after acquiring an additional 53,158 shares during the period. 54.85% of the stock is owned by hedge funds and other institutional investors.

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.