Altice USA (NYSE:ATUS) Trading Down 5.7% – Should You Sell?

Shares of Altice USA, Inc. (NYSE:ATUS) dropped 5.7% during mid-day trading on Tuesday . The stock traded as low as $2.47 and last traded at $2.47. Approximately 409,324 shares changed hands during trading, a decline of 80% from the average daily volume of 2,098,794 shares. The stock had previously closed at $2.62.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ATUS shares. TD Cowen decreased 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. Citigroup upped their price objective on Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.30.

Altice USA Stock Down 5.3 %

The stock has a 50 day moving average of $2.53 and a 200 day moving average of $2.22. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -6.70 and a beta of 1.50.

Altice USA (NYSE:ATUS) last issued 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). The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. Altice USA’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. As a group, analysts predict that Altice USA, Inc. will post -0.01 EPS for the current fiscal year.

Insider Activity at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,230 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the sale, the director now owns 14,704,182 shares of the company’s stock, valued at approximately $360,252,459. The trade was a 5.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 15,299,331 shares of company stock valued at $374,833,610 over the last ninety days. 52.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC bought a new stake in Altice USA during the 2nd quarter worth approximately $25,000. Quadrature Capital Ltd acquired a new position in shares of Altice USA during the third quarter worth $27,000. D.A. Davidson & CO. bought a new stake in shares of Altice USA in the third quarter worth $32,000. Wolverine Trading LLC acquired a new stake in Altice USA in the third quarter valued at $39,000. Finally, US Bancorp DE increased 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 purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds 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.