Altice USA (NYSE:ATUS) Trading Down 5.9% - What's Next?

Altice USA, Inc. (NYSE:ATUS - Get Free Report) shares traded down 5.9% during mid-day trading on Thursday . The company traded as low as $2.69 and last traded at $2.79. 596,444 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 2,995,251 shares. The stock had previously closed at $2.96.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. TD Cowen reduced their price target on Altice USA from $6.00 to $3.50 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Citigroup upped their price target on Altice USA from $2.50 to $3.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $2.30.

Altice USA Stock Performance

The business has a 50 day moving average of $2.59 and a two-hundred day moving average of $2.32. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -7.47 and a beta of 1.52.

Altice USA (NYSE:ATUS - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share 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 analyst estimates of $2.24 billion. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, equities analysts predict that Altice USA, Inc. will post -0.06 EPS for the current fiscal year.

Insider Transactions at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction that occurred on Tuesday, November 12th. 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 29,198,274 shares of the company's stock, valued at approximately $715,357,713. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 11,273,196 shares of company stock valued at $276,193,302 over the last ninety days. 52.90% of the stock is currently owned by insiders.

Institutional Trading of Altice USA

A number of institutional investors and hedge funds have recently modified their holdings of ATUS. US Bancorp DE grew 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 purchasing an additional 5,000 shares during the period. Quadrature Capital Ltd bought a new position in Altice USA during the third quarter valued at $27,000. D.A. Davidson & CO. bought a new position in Altice USA during the third quarter valued at $32,000. Wolverine Trading LLC bought a new position in Altice USA during the third quarter valued at $39,000. Finally, Handelsbanken Fonder AB grew its holdings in Altice USA by 102.2% during the third quarter. Handelsbanken Fonder AB now owns 36,000 shares of the company's stock valued at $89,000 after purchasing an additional 18,200 shares during the period. 54.85% of the stock is owned by hedge funds and other institutional investors.

Altice USA Company Profile

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.