Altice USA Sees Unusually Large Options Volume (NYSE:ATUS)

Altice USA, Inc. (NYSE:ATUS - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 12,648 call options on the company. This represents an increase of 2,084% compared to the typical daily volume of 579 call options.

Insider Transactions at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the sale, the director now directly owns 38,055,771 shares in the company, valued at approximately $932,366,389.50. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 15,299,331 shares of company stock worth $374,833,610. 52.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ATUS. Massachusetts Financial Services Co. MA raised its stake in Altice USA by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company's stock valued at $11,566,000 after buying an additional 24,501 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Altice USA in the 2nd quarter worth $25,000. XTX Topco Ltd increased its holdings in shares of Altice USA by 112.1% in the 2nd quarter. XTX Topco Ltd now owns 81,314 shares of the company's stock worth $166,000 after purchasing an additional 42,975 shares in the last quarter. King Street Capital Management L.P. bought a new stake in shares of Altice USA in the 2nd quarter worth $5,100,000. Finally, Aristeia Capital L.L.C. bought a new stake in shares of Altice USA in the 2nd quarter worth $657,000. Hedge funds and other institutional investors own 54.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ATUS shares. Citigroup raised their target price on Altice USA from $2.50 to $3.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. TD Cowen lowered their target price on Altice USA from $6.00 to $3.50 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Altice USA presently has a consensus rating of "Hold" and a consensus price target of $2.30.

Altice USA Trading Up 3.7 %

NYSE:ATUS traded up $0.09 during trading hours on Tuesday, reaching $2.52. 2,456,222 shares of the company traded hands, compared to its average volume of 3,330,540. The business's 50-day moving average price is $2.52 and its two-hundred day moving average price is $2.23. The stock has a market capitalization of $1.16 billion, a P/E ratio of -6.81 and a beta of 1.50. Altice USA has a 1 year low of $1.52 and a 1 year high of $3.18.

Altice USA (NYSE:ATUS - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.09) earnings per share (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 analysts' expectations of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 EPS. As a group, equities analysts anticipate that Altice USA will post -0.01 EPS for the current year.

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.