Altice USA, Inc. (NYSE:ATUS) Director Sells $19,728,135.00 in Stock

Altice USA, Inc. (NYSE:ATUS) Director Alt S.A.R.L. Next sold 805,230 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the transaction, the director now directly owns 6,651,882 shares in the company, valued at $162,971,109. The trade was a 10.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $24.50, for a total value of $19,728,135.00.
• On Tuesday, December 17th, 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 stock was 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 shares were 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 stock was 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 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 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 stock was sold at an average price of $24.50, for a total value of $19,728,061.50.

Altice USA Price Performance

Altice USA stock opened at $2.50 on Thursday. Altice USA, Inc. has a 12-month low of $1.52 and a 12-month high of $3.66. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -6.76 and a beta of 1.53. The firm’s fifty day moving average price is $2.52 and its 200 day moving average price is $2.20.

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

Wall Street Analyst Weigh In

ATUS has been the subject of a number of research analyst reports. TD Cowen dropped their target price 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. Citigroup increased their price objective on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Altice USA presently has an average rating of “Hold” and an average price target of $2.30.

Hedge Funds Weigh In On Altice USA

Several institutional investors and hedge funds have recently made changes to their positions in ATUS. 140 Summer Partners LP acquired a new position in Altice USA in the third quarter worth about $9,004,000. King Street Capital Management L.P. acquired a new position in shares of Altice USA in the 2nd quarter worth approximately $5,100,000. LMR Partners LLP increased its holdings 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 valued at $7,380,000 after acquiring an additional 2,055,000 shares during the last quarter. Empyrean Capital Partners LP acquired a new stake in shares of Altice USA during the 2nd quarter valued at approximately $4,080,000. Finally, Paloma Partners Management Co lifted its stake in Altice USA by 172.6% during the third quarter. Paloma Partners Management Co now owns 2,210,941 shares of the company’s stock worth $5,439,000 after purchasing an additional 1,400,000 shares during the last quarter. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

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.