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 Altice USA stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $24.50, for a total value of $19,728,135.00. Following the completion of the transaction, the director now directly owns 9,872,802 shares in the company, valued at approximately $241,883,649. This represents a 7.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 transaction 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 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 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 value 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 stock was 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 transaction 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 transaction of $19,728,061.50.
• On Tuesday, November 12th, 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 Price Performance

ATUS stock opened at $2.50 on Thursday. The company has a market capitalization of $1.15 billion, a P/E ratio of -6.76 and a beta of 1.53. Altice USA, Inc. has a 1-year low of $1.52 and a 1-year high of $3.66. The business has a 50-day moving average price of $2.51 and a 200 day moving average price of $2.21.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. On average, analysts anticipate that Altice USA, Inc. will post -0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ATUS has been the topic of a number of research reports. Citigroup lifted their price target on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. TD Cowen dropped their price target 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. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.30.

Institutional Trading of Altice USA

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