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 firm’s stock in a transaction on Thursday, November 14th. The shares were 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 27,587,820 shares in the company, valued at $675,901,590. The trade was a 2.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, November 12th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50.
• On Friday, November 8th, 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 value of $19,728,061.50.
• On Monday, November 4th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50.
• On Friday, November 1st, 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 Wednesday, October 30th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50.
• 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 value 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 value of $19,728,061.50.

Altice USA Stock Performance

NYSE:ATUS opened at $2.47 on Monday. The stock’s fifty day moving average price is $2.41 and its two-hundred day moving average price is $2.16. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -6.68, a P/E/G ratio of 49.18 and a beta of 1.52. Altice USA, Inc. has a 52-week low of $1.52 and a 52-week high of $3.66.

Altice USA (NYSE:ATUS) last posted its quarterly 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). The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. Altice USA’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 EPS. On average, equities analysts predict that Altice USA, Inc. will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ATUS. 140 Summer Partners LP acquired a new stake in shares of Altice USA during the third quarter worth $9,004,000. King Street Capital Management L.P. bought a new position in Altice USA during the second quarter worth about $5,100,000. LMR Partners LLP grew its position in shares of Altice USA by 217.5% during the 3rd 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 during the period. Empyrean Capital Partners LP bought a new stake in shares of Altice USA in the 2nd quarter valued at about $4,080,000. Finally, Paloma Partners Management Co raised its position in shares of Altice USA by 172.6% in the 3rd quarter. Paloma Partners Management Co now owns 2,210,941 shares of the company’s stock valued at $5,439,000 after acquiring an additional 1,400,000 shares during the period. Institutional investors own 54.85% of the company’s stock.

Analyst Ratings Changes

ATUS has been the subject of a number of recent research reports. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and cut their target price for the company from $4.00 to $2.00 in a research note on Friday, August 2nd. TD Cowen decreased their price objective on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.22.

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.