Altice USA (NYSE:ATUS) Stock Price Down 5% on Insider Selling

Altice USA, Inc. (NYSE:ATUS - Get Free Report) traded down 5% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $2.49 and last traded at $2.49. 192,076 shares traded hands during trading, a decline of 94% from the average session volume of 3,484,631 shares. The stock had previously closed at $2.62.

Specifically, Director Alt S.A.R.L. Next sold 805,230 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the sale, the director now owns 11,483,262 shares of the company's stock, valued at $281,339,919. This trade represents a 6.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alt S.A.R.L. Next sold 805,230 shares of the company's stock in a transaction dated Wednesday, December 11th. 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 13,093,722 shares of the company's stock, valued at approximately $320,796,189. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup boosted their price target on Altice USA from $2.50 to $3.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. TD Cowen decreased 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 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $2.30.

Altice USA Trading Down 2.7 %

The stock has a market capitalization of $1.18 billion, a P/E ratio of -6.89 and a beta of 1.53. The company has a 50-day moving average price of $2.51 and a two-hundred day moving average price of $2.20.

Altice USA (NYSE:ATUS - Get Free Report) last issued 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 analyst estimates of $2.24 billion. During the same period last year, the firm posted $0.15 earnings per share. Altice USA's quarterly revenue was down 3.9% compared to the same quarter last year. Research analysts forecast that Altice USA, Inc. will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Institutional investors and hedge funds have recently made changes to their positions in the stock. 140 Summer Partners LP bought a new stake in shares of Altice USA during the third quarter worth about $9,004,000. King Street Capital Management L.P. bought a new stake in Altice USA during the 2nd quarter worth approximately $5,100,000. LMR Partners LLP raised its stake in shares of Altice USA by 217.5% in the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company's stock worth $7,380,000 after purchasing an additional 2,055,000 shares during the last quarter. Empyrean Capital Partners LP bought a new position in shares of Altice USA in the second quarter valued at approximately $4,080,000. Finally, Paloma Partners Management Co boosted its position in shares of Altice USA by 172.6% during the third quarter. Paloma Partners Management Co now owns 2,210,941 shares of the company's stock valued at $5,439,000 after buying an additional 1,400,000 shares during the last quarter. 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.