Altice USA, Inc. (NYSE:ATUS - Get Free Report)'s stock price fell 3.6% during trading on Thursday . The company traded as low as $2.40 and last traded at $2.41. 247,415 shares were traded during mid-day trading, a decline of 93% from the average session volume of 3,478,171 shares. The stock had previously closed at $2.50.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on ATUS. TD Cowen decreased their price target 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. Citigroup lifted their target price on Altice USA from $2.50 to $3.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $2.30.
Get Our Latest Analysis on ATUS
Altice USA Price Performance
The business has a fifty day moving average price of $2.53 and a 200 day moving average price of $2.21. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.62 and a beta of 1.53.
Altice USA (NYSE:ATUS - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the business earned $0.15 earnings per share. The company's revenue was down 3.9% on a year-over-year basis. Research analysts anticipate that Altice USA, Inc. will post -0.01 earnings per share for the current year.
Insider Transactions at Altice USA
In related news, Director Alt S.A.R.L. Next sold 805,230 shares of the company's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $24.50, for a total value of $19,728,135.00. Following the completion of the sale, the director now owns 14,704,182 shares in the company, valued at approximately $360,252,459. This represents a 5.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 15,299,331 shares of company stock valued at $374,833,610. Corporate insiders own 52.90% of the company's stock.
Hedge Funds Weigh In On Altice USA
A number of hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its holdings in Altice USA by 30.2% during the third quarter. US Bancorp DE now owns 21,530 shares of the company's stock valued at $53,000 after buying an additional 5,000 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Altice USA in the 3rd quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC bought a new stake in Altice USA during the second quarter worth approximately $25,000. D.A. Davidson & CO. acquired a new position in Altice USA during the third quarter valued at approximately $32,000. Finally, Wolverine Trading LLC bought a new position in shares of Altice USA in the third quarter valued at approximately $39,000. 54.85% of the stock is owned by institutional investors and hedge funds.
Altice USA Company Profile
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Get Free Report)
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.
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