Altice USA (NYSE:ATUS) Trading Down 3.1% - Time to Sell?

Altice USA, Inc. (NYSE:ATUS - Get Free Report) fell 3.1% during trading on Friday . The stock traded as low as $2.52 and last traded at $2.52. 871,650 shares traded hands during trading, a decline of 75% from the average session volume of 3,485,420 shares. The stock had previously closed at $2.60.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. UBS Group cut Altice USA from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. TD Cowen dropped their price objective on Altice USA from $6.00 to $3.50 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $2.22.

Altice USA Stock Performance

The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -6.51 and a beta of 1.52. The business has a fifty day simple moving average of $2.48 and a 200 day simple moving average of $2.19.

Altice USA (NYSE:ATUS - Get Free Report) 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). The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The company's revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.15 earnings per share. On average, sell-side analysts forecast that Altice USA, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the sale, the director now directly owns 21,146,004 shares in the company, valued at $518,077,098. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 8,052,270 shares of company stock valued at $197,280,615 over the last quarter. 52.90% of the stock is owned by corporate insiders.

Institutional Trading of Altice USA

Several institutional investors and hedge funds have recently modified their holdings of ATUS. Geode Capital Management LLC boosted its position 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 valued at $6,602,000 after buying an additional 191,508 shares in the last quarter. Barclays PLC lifted 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 acquiring an additional 834,030 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Altice USA by 476.7% during the 3rd quarter. XTX Topco Ltd now owns 468,969 shares of the company's stock valued at $1,154,000 after acquiring an additional 387,655 shares in the last quarter. Wolverine Trading LLC bought a new position in Altice USA in the third quarter valued at about $39,000. Finally, State Street Corp boosted its stake in shares of Altice USA by 2.8% during the third quarter. State Street Corp now owns 1,534,608 shares of the company's stock valued at $3,775,000 after purchasing an additional 41,868 shares in the last quarter. 54.85% of the stock is currently owned by institutional investors.

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.