Altice USA, Inc. (NYSE:ATUS) Short Interest Down 5.9% in October

Altice USA, Inc. (NYSE:ATUS) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 25,400,000 shares, a drop of 5.9% from the October 15th total of 26,990,000 shares. Approximately 12.3% of the shares of the stock are sold short. Based on an average daily volume of 3,420,000 shares, the days-to-cover ratio is presently 7.4 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. TD Cowen cut their target price on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. Five equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.22.

Insider Buying and Selling at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the sale, the director now directly owns 38,860,998 shares in the company, valued at approximately $952,094,451. This trade represents a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 6,441,816 shares of company stock valued at $157,824,492. 52.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Altice USA

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Altice USA by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,682,757 shares of the company’s stock valued at $6,602,000 after purchasing an additional 191,508 shares during the period. Barclays PLC grew its position in Altice USA by 120.3% in the 3rd quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock valued at $3,756,000 after purchasing an additional 834,030 shares during the period. XTX Topco Ltd increased its stake in Altice USA by 476.7% during the 3rd quarter. XTX Topco Ltd now owns 468,969 shares of the company’s stock valued at $1,154,000 after purchasing an additional 387,655 shares in the last quarter. Wolverine Trading LLC bought a new stake in Altice USA during the 3rd quarter valued at $39,000. Finally, State Street Corp raised its holdings in Altice USA by 2.8% during the third 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 last quarter. Institutional investors own 54.85% of the company’s stock.

Altice USA Stock Down 3.8 %

Shares of NYSE:ATUS opened at $2.38 on Tuesday. The business has a fifty day simple moving average of $2.42 and a 200 day simple moving average of $2.16. Altice USA has a 12-month low of $1.52 and a 12-month high of $3.66. The firm has a market cap of $1.10 billion, a P/E ratio of -6.42, a P/E/G ratio of 49.18 and a beta of 1.52.

Altice USA (NYSE:ATUS) last announced 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). Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company earned $0.15 earnings per share. The business’s revenue was down 3.9% on a year-over-year basis. As a group, equities research analysts expect that Altice USA will post 0.01 EPS for the current year.

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.