Altice USA (NYSE:ATUS) Stock Price Up 3.5% Following Analyst Upgrade

Altice USA, Inc. (NYSE:ATUS) rose 3.5% on Thursday after Citigroup raised their price target on the stock from $2.50 to $3.00. Citigroup currently has a buy rating on the stock. Altice USA traded as high as $2.67 and last traded at $2.67. Approximately 102,961 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 3,495,797 shares. The stock had previously closed at $2.58.

Separately, TD Cowen cut their target price on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.30.

Insiders Place Their Bets

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction dated Monday, October 28th. 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 38,055,771 shares in the company, valued at $932,366,389.50. This trade represents a 2.07 % 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 link. Insiders sold 12,078,411 shares of company stock valued at $295,921,070 over the last quarter. Insiders own 52.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd bought a new stake in Altice USA during the 3rd quarter worth about $27,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Altice USA during the second quarter worth $25,000. D.A. Davidson & CO. acquired a new position in Altice USA in the third quarter valued at about $32,000. Wolverine Trading LLC acquired a new position in shares of Altice USA during the 3rd quarter worth about $39,000. Finally, US Bancorp DE boosted its stake in Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock worth $53,000 after acquiring an additional 5,000 shares during the last quarter. 54.85% of the stock is owned by institutional investors.

Altice USA Stock Up 1.6 %

The firm has a fifty day simple moving average of $2.50 and a 200-day simple moving average of $2.20. The company has a market capitalization of $1.21 billion, a P/E ratio of -7.08 and a beta of 1.53.

Altice USA (NYSE:ATUS) last released its earnings results on Monday, November 4th. The company reported ($0.09) 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 firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm posted $0.15 EPS. The company’s revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts predict that Altice USA, Inc. will post -0.01 earnings per share for the current fiscal year.

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.