Insider Selling: 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 that occurred on Tuesday, November 19th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now directly owns 25,172,139 shares of the company’s stock, valued at $616,717,405.50. This represents a 3.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, November 14th, 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 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 value 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 stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50.
• On Friday, November 1st, 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 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 shares were 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 Price Performance

Shares of Altice USA stock opened at $2.59 on Friday. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.66. The company’s fifty day simple moving average is $2.45 and its 200-day simple moving average is $2.17. The stock has a market capitalization of $1.20 billion, a PE ratio of -7.00, a P/E/G ratio of 47.38 and a beta of 1.52.

Altice USA (NYSE:ATUS) last released 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). Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm posted $0.15 EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, research analysts anticipate that Altice USA, Inc. will post 0.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ATUS shares. TD Cowen reduced their price objective on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. UBS Group cut shares of Altice USA from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.22.

Hedge Funds Weigh In On Altice USA

Large investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC bought a new stake in Altice USA during the second quarter valued at about $25,000. Quadrature Capital Ltd bought a new stake in Altice USA during the 3rd quarter valued at approximately $27,000. D.A. Davidson & CO. purchased a new position in Altice USA in the 3rd quarter worth approximately $32,000. Wolverine Trading LLC bought a new position in Altice USA in the 3rd quarter worth approximately $39,000. Finally, US Bancorp DE grew its holdings in Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.

About Altice USA

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.