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

Altice USA, Inc. (NYSE:ATUS) Director Alt S.A.R.L. Next sold 805,230 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the completion of the transaction, the director now directly owns 8,262,342 shares of the company’s stock, valued at approximately $202,427,379. This represents a 8.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, December 17th, 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 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 value 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 value 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 stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50.
• On Friday, November 29th, 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, 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 transaction 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 value 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 value of $19,728,061.50.

Altice USA Price Performance

NYSE:ATUS traded up $0.08 during trading hours on Friday, hitting $2.64. The company had a trading volume of 3,859,463 shares, compared to its average volume of 3,503,480. Altice USA, Inc. has a 52 week low of $1.52 and a 52 week high of $3.66. The company has a market capitalization of $1.22 billion, a PE ratio of -7.13 and a beta of 1.53. The stock has a 50-day moving average price of $2.52 and a 200 day moving average price of $2.21.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (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 for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the firm earned $0.15 EPS. Altice USA’s quarterly revenue was down 3.9% compared to the same quarter last year. Analysts anticipate that Altice USA, Inc. will post -0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ATUS. TD Cowen dropped their price objective on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Citigroup increased their price target on shares of Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.30.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ATUS. 140 Summer Partners LP purchased a new position in Altice USA during the 3rd quarter valued at about $9,004,000. King Street Capital Management L.P. purchased a new position in shares of Altice USA during the second quarter valued at approximately $5,100,000. LMR Partners LLP boosted its position in shares of Altice USA by 217.5% in the 3rd quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after purchasing an additional 2,055,000 shares in the last quarter. Empyrean Capital Partners LP purchased a new stake in shares of Altice USA in the 2nd quarter worth approximately $4,080,000. Finally, Paloma Partners Management Co increased its position in Altice USA by 172.6% during the 3rd quarter. Paloma Partners Management Co now owns 2,210,941 shares of the company’s stock valued at $5,439,000 after buying an additional 1,400,000 shares in the last quarter. Hedge funds and other 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.