Altice USA (NYSE:ATUS) Trading Down 6.2% on Insider Selling

Altice USA, Inc. (NYSE:ATUS) dropped 6.2% during mid-day trading on Monday following insider selling activity. The stock traded as low as $2.42 and last traded at $2.42. Approximately 1,475,947 shares were traded during trading, a decline of 58% from the average daily volume of 3,484,560 shares. The stock had previously closed at $2.58.

Specifically, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction that occurred on Thursday, December 5th. 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 16,314,642 shares of the company’s stock, valued at approximately $399,708,729. The trade was a 4.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. 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 sale, the director now owns 17,925,096 shares in the company, valued at $439,164,852. This represents a 4.30 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Separately, TD Cowen cut their price target on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Five analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Altice USA currently has a consensus rating of “Hold” and a consensus target price of $2.22.

Altice USA Trading Down 8.5 %

The stock has a market cap of $1.09 billion, a P/E ratio of -6.38 and a beta of 1.53. The business has a 50-day simple moving average of $2.50 and a 200 day simple moving average of $2.20.

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 return on equity of 1.54% and a negative net margin of 1.85%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the business posted $0.15 EPS. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities analysts expect that Altice USA, Inc. will post -0.01 earnings per share for the current year.

Institutional Investors Weigh In On Altice USA

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake 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 acquiring an additional 191,508 shares in the last quarter. Barclays PLC boosted its position in shares of Altice USA by 120.3% during the 3rd quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock worth $3,756,000 after purchasing an additional 834,030 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Altice USA by 476.7% in the 3rd quarter. XTX Topco Ltd now owns 468,969 shares of the company’s stock valued at $1,154,000 after buying an additional 387,655 shares during the period. Wolverine Trading LLC bought a new stake in Altice USA in the 3rd quarter valued at about $39,000. Finally, State Street Corp raised its stake in Altice USA by 2.8% during the 3rd quarter. State Street Corp now owns 1,534,608 shares of the company’s stock worth $3,775,000 after buying an additional 41,868 shares during the period. Institutional investors and hedge funds own 54.85% of the company’s stock.

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.