Altice USA (NYSE:ATUS) Trading Down 5% on Insider Selling

Altice USA, Inc. (NYSE:ATUS) fell 5% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $2.49 and last traded at $2.49. 192,076 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 3,484,631 shares. The stock had previously closed at $2.62.

Specifically, Director Alt S.A.R.L. Next sold 805,230 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $24.50, for a total value of $19,728,135.00. Following the sale, the director now owns 11,483,262 shares of the company’s stock, valued at $281,339,919. The trade was a 6.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alt S.A.R.L. Next sold 805,230 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the sale, the director now directly owns 13,093,722 shares in the company, valued at $320,796,189. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ATUS. Citigroup increased their target price on Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. TD Cowen lowered their price objective on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.30.

Altice USA Stock Performance

The business has a fifty day simple moving average of $2.51 and a 200-day simple moving average of $2.20. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -6.89 and a beta of 1.53.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.13). The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. On average, equities analysts anticipate that Altice USA, Inc. will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Hedge funds have recently bought and sold shares of the company. 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 worth $53,000 after acquiring an additional 5,000 shares during the period. Quadrature Capital Ltd acquired a new stake in Altice USA during the third quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC bought a new stake in Altice USA in the second quarter worth approximately $25,000. D.A. Davidson & CO. bought a new stake in Altice USA in the third quarter worth approximately $32,000. Finally, Wolverine Trading LLC acquired a new position in Altice USA in the third quarter valued at approximately $39,000. 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.