Altice USA, Inc. (NYSE:ATUS) Receives Consensus Rating of “Reduce” from Analysts

Shares of Altice USA, Inc. (NYSE:ATUS) have been assigned a consensus rating of “Reduce” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $2.41.

A number of analysts have recently issued reports on the stock. TD Cowen cut their price target on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. Raymond James upgraded Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 target price on the stock in a research report on Tuesday. Finally, Citigroup increased their price target on Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Altice USA Stock Down 0.2 %

Shares of NYSE:ATUS opened at $2.87 on Thursday. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.20. The stock has a market cap of $1.32 billion, a P/E ratio of -12.46 and a beta of 1.52. The business has a fifty day moving average of $2.67 and a two-hundred day moving average of $2.40.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). On average, equities analysts anticipate that Altice USA will post -0.05 earnings per share for the current year.

Insider Buying and Selling at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the transaction, the director now owns 19,535,550 shares of the company’s stock, valued at $478,620,975. This trade represents a 3.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 8,052,288 shares of company stock valued at $197,281,056 in the last three months. 52.90% of the stock is owned by corporate insiders.

Institutional Trading of Altice USA

A number of large investors have recently modified their holdings of the stock. Wolverine Trading LLC acquired a new stake in Altice USA in the third quarter valued at approximately $39,000. Point72 Asset Management L.P. raised its holdings in shares of Altice USA by 487.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 880,985 shares of the company’s stock valued at $2,167,000 after purchasing an additional 730,985 shares in the last quarter. Algert Global LLC lifted its position in shares of Altice USA by 101.3% during the 3rd quarter. Algert Global LLC now owns 639,005 shares of the company’s stock worth $1,572,000 after purchasing an additional 321,618 shares during the last quarter. Barclays PLC increased its holdings in Altice USA by 120.3% in the third quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock valued at $3,756,000 after buying an additional 834,030 shares during the last quarter. Finally, LMR Partners LLP raised its stake in Altice USA by 217.5% in the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock valued at $7,380,000 after buying an additional 2,055,000 shares in the last quarter. Hedge funds and other institutional investors 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.