Altice USA (NYSE:ATUS) Shares Down 5.7% - Should You Sell?

Altice USA, Inc. (NYSE:ATUS - Get Free Report)'s share price dropped 5.7% on Tuesday . The stock traded as low as $2.47 and last traded at $2.47. Approximately 409,324 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 2,098,794 shares. The stock had previously closed at $2.62.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ATUS shares. Citigroup raised 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. TD Cowen reduced their price target on shares of Altice USA from $6.00 to $3.50 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $2.30.

Altice USA Stock Down 5.7 %

The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -6.68 and a beta of 1.50. The firm has a fifty day moving average price of $2.53 and a 200-day moving average price of $2.22.

Altice USA (NYSE:ATUS - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.13). The company had revenue of $2.23 billion for 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. Equities research analysts anticipate that Altice USA, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now directly owns 38,860,998 shares of the company's stock, valued at approximately $952,094,451. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 15,299,331 shares of company stock valued at $374,833,610 over the last ninety days. Corporate insiders own 52.90% of the company's stock.

Institutional Trading of Altice USA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Altice USA by 1,617.7% in the third quarter. JPMorgan Chase & Co. now owns 1,902,834 shares of the company's stock valued at $4,681,000 after buying an additional 1,792,054 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Altice USA by 7.7% during the third quarter. Geode Capital Management LLC now owns 2,682,757 shares of the company's stock worth $6,602,000 after purchasing an additional 191,508 shares during the period. Barclays PLC lifted its position 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 worth $3,756,000 after buying an additional 834,030 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of 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 period. Finally, Wolverine Trading LLC bought a new stake in shares of Altice USA during the 3rd quarter valued at about $39,000. 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.