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

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ATUS. TD Cowen dropped their target price on Altice USA from $6.00 to $3.50 and set a "buy" rating on the stock in a report on Tuesday, November 5th. UBS Group lowered Altice USA from a "buy" rating to a "neutral" rating and reduced their target price for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Five research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Altice USA presently has a consensus rating of "Hold" and an average target price of $2.22.

Altice USA Trading Down 4.0 %

Shares of Altice USA stock traded down $0.10 on Monday, hitting $2.37. The stock had a trading volume of 2,644,312 shares, compared to its average volume of 3,515,264. The company's 50 day moving average price is $2.41 and its 200 day moving average price is $2.16. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.66. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -6.68, a P/E/G ratio of 49.18 and a beta of 1.52.

Altice USA (NYSE:ATUS - Get Free Report) 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 business had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same period last year, the company earned $0.15 EPS. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. Analysts predict that Altice USA will post 0.01 EPS for the current fiscal year.

Insider Transactions at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the business's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the sale, the director now owns 27,587,820 shares of the company's stock, valued at $675,901,590. The trade was a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 6,441,816 shares of company stock valued at $157,824,492. 52.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ATUS. Geode Capital Management LLC grew its stake in 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 buying an additional 191,508 shares during the last quarter. Barclays PLC raised its stake in shares of 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 raised its position in Altice USA by 476.7% in the 3rd quarter. XTX Topco Ltd now owns 468,969 shares of the company's stock valued at $1,154,000 after buying an additional 387,655 shares during the last quarter. Wolverine Trading LLC bought a new stake in shares of Altice USA in the third quarter worth $39,000. Finally, State Street Corp raised its stake in shares of Altice USA by 2.8% during the 3rd quarter. State Street Corp now owns 1,534,608 shares of the company's stock worth $3,775,000 after purchasing an additional 41,868 shares in the last quarter. 54.85% of the stock is owned by institutional investors and hedge funds.

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.