Insider Selling: Altice USA, Inc. (NYSE:ATUS) Director Sells 805,230 Shares of Stock

by · The Cerbat Gem

Altice USA, Inc. (NYSE:ATUS – Get Free Report) Director Alt S.A.R.L. Next sold 805,230 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $24.50, for a total value of $19,728,135.00. Following the completion of the sale, the director now owns 9,872,802 shares of the company’s stock, valued at $241,883,649. The trade was a 7.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

  • On Thursday, December 19th, Alt S.A.R.L. Next sold 805,230 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total value of $19,728,135.00.
  • On Friday, December 13th, Alt S.A.R.L. Next sold 805,230 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total value of $19,728,135.00.
  • On Wednesday, December 11th, Alt S.A.R.L. Next sold 805,230 shares of Altice USA stock. The stock was sold at an average price of $24.50, for a total transaction of $19,728,135.00.
  • On Monday, December 9th, Alt S.A.R.L. Next sold 805,230 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total transaction of $19,728,135.00.
  • On Thursday, December 5th, 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 Tuesday, December 3rd, 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 29th, 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 26th, 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 Tuesday, November 19th, 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 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 transaction of $19,728,061.50.

Altice USA Stock Performance

Shares of ATUS stock opened at $2.64 on Friday. Altice USA, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.66. The firm has a market capitalization of $1.22 billion, a PE ratio of -7.13 and a beta of 1.53. The stock’s 50-day simple moving average is $2.52 and its 200-day simple moving average is $2.21.

Altice USA (NYSE:ATUS – Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. Sell-side analysts forecast that Altice USA, Inc. will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC acquired a new stake in Altice USA during the 2nd quarter worth about $25,000. Quadrature Capital Ltd acquired a new stake in Altice USA during the third quarter worth about $27,000. D.A. Davidson & CO. acquired a new stake in Altice USA during the third quarter worth about $32,000. Wolverine Trading LLC purchased a new position in Altice USA during the third quarter valued at approximately $39,000. Finally, US Bancorp DE lifted its holdings in Altice USA by 30.2% in the third quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after acquiring an additional 5,000 shares during the period. 54.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ATUS shares. TD Cowen reduced their price target 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. Citigroup increased their price target on Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Five investment 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’s stock. Based on data from MarketBeat, Altice USA currently has an average rating of “Hold” and an average price target of $2.30.

Get Our Latest Stock Analysis on ATUS

Altice USA Company Profile

(Get Free Report)

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.

See Also