Altice USA (NYSE:ATUS) Sees Strong Trading Volume - Should You Buy?

Shares of Altice USA, Inc. (NYSE:ATUS - Get Free Report) saw strong trading volume on Monday . 4,132,601 shares were traded during trading, an increase of 20% from the previous session's volume of 3,430,157 shares.The stock last traded at $2.73 and had previously closed at $2.64.

Analyst Upgrades and Downgrades

Separately, UBS Group lowered Altice USA from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $1.97.

Altice USA Stock Down 1.9 %

The firm has a market cap of $1.19 billion, a P/E ratio of -19.92, a P/E/G ratio of 9.08 and a beta of 1.52. The business has a fifty day simple moving average of $2.29 and a 200-day simple moving average of $2.12.

Altice USA (NYSE:ATUS - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm earned $0.17 EPS. The company's revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Altice USA, Inc. will post 0.1 EPS for the current fiscal year.

Insider Transactions at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm's stock in a transaction on Monday, October 28th. 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 transaction, the director now directly owns 38,055,771 shares in the company, valued at $932,366,389.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 3,220,908 shares of company stock valued at $78,912,246 in the last ninety days. 52.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Altice USA

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Altice USA by 45.2% in the first quarter. SG Americas Securities LLC now owns 58,098 shares of the company's stock worth $152,000 after acquiring an additional 18,080 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Altice USA during the 1st quarter valued at $1,914,000. Headlands Technologies LLC bought a new position in shares of Altice USA during the 1st quarter valued at $46,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Altice USA in the 1st quarter worth $687,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Altice USA by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 460,585 shares of the company's stock worth $1,193,000 after acquiring an additional 53,158 shares during the period. Institutional investors own 54.85% of the company's stock.

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.