Altice USA, Inc. (NYSE:ATUS) Director Sells $19,728,061.50 in Stock

Posted by Geri Gentry on Nov 27th, 2024

Altice USA, Inc. (NYSE:ATUS – Get Free Report) Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the sale, the director now owns 21,146,004 shares of the company’s stock, valued at approximately $518,077,098. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Alt S.A.R.L. Next also recently made the following trade(s):

On Tuesday, November 19th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50.
On Thursday, November 14th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50.
On Tuesday, November 12th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50.
On Friday, November 8th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50.
On Monday, November 4th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50.
On Friday, November 1st, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50.
On Wednesday, October 30th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50.
On Monday, October 28th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50.
On Friday, October 25th, Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50.

Altice USA Stock Performance

ATUS stock traded up $0.10 during midday trading on Wednesday, hitting $2.61. 1,728,750 shares of the company’s stock were exchanged, compared to its average volume of 3,497,875. The stock’s fifty day moving average price is $2.47 and its 200-day moving average price is $2.18. Altice USA, Inc. has a one year low of $1.52 and a one year high of $3.66.

Altice USA (NYSE:ATUS – Get Free Report) last announced 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 business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. Altice USA’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. As a group, 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

Several large investors have recently added to or reduced their stakes in ATUS. Swedbank AB purchased a new position in shares of Altice USA during the 1st quarter valued at $66,000. Massachusetts Financial Services Co. MA raised its holdings in Altice USA by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock worth $11,566,000 after purchasing an additional 24,501 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Altice USA in the 2nd quarter worth about $25,000. XTX Topco Ltd raised its position 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 during the last quarter. Finally, King Street Capital Management L.P. purchased a new position in shares of Altice USA in the 2nd quarter worth about $5,100,000. Institutional investors own 54.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ATUS. TD Cowen decreased 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. UBS Group downgraded Altice USA from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Altice USA has a consensus rating of “Hold” and an average price target of $2.22.

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Altice USA Company Profile

(Get Free Report)

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.