Insider Selling: 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 stock in a transaction that occurred on Tuesday, December 17th. 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 owns 9,872,802 shares in the company, valued at $241,883,649. The trade was a 7.54 % decrease in their ownership of the stock. The transaction 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 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 stock was 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 stock was 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 shares were sold at an average price of $24.50, for a total value of $19,728,061.50.

Altice USA Stock Up 3.1 %

Altice USA stock opened at $2.64 on Friday. Altice USA, Inc. has a 52-week low of $1.52 and a 52-week high of $3.66. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -7.13 and a beta of 1.53. The firm’s fifty day moving average is $2.52 and its 200 day moving average is $2.21.

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 company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business posted $0.15 EPS. The company’s revenue was down 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Altice USA, Inc. will post -0.01 earnings per share for the current fiscal year.

Institutional Trading of Altice USA

A number of institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of Altice USA by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock worth $11,566,000 after purchasing an additional 24,501 shares during the period. Cerberus Capital Management L.P. raised its holdings in shares of Altice USA by 6.8% in the third quarter. Cerberus Capital Management L.P. now owns 3,940,785 shares of the company’s stock worth $9,694,000 after buying an additional 250,000 shares during the period. 140 Summer Partners LP bought a new stake in shares of Altice USA during the 3rd quarter worth approximately $9,004,000. LMR Partners LLP grew its position in 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. Finally, Geode Capital Management LLC increased its stake in Altice USA by 7.7% in the third quarter. Geode Capital Management LLC now owns 2,682,757 shares of the company’s stock worth $6,602,000 after purchasing an additional 191,508 shares during the period. 54.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup increased their price objective on shares of Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. TD Cowen cut 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 note on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Altice USA presently has an average rating of “Hold” and a consensus target price of $2.30.

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.