Altice USA, Inc. (NYSE:ATUS) Given Average Recommendation of “Reduce” by Brokerages

Altice USA, Inc. (NYSE:ATUS) has been assigned an average recommendation of “Reduce” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $2.30.

Several research firms have recently weighed in on ATUS. TD Cowen lowered their price objective on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Citigroup upped their price target on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Wednesday.

Insider Transactions at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA 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 sale, the director now directly owns 38,055,771 shares of the company’s stock, valued at $932,366,389.50. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 12,078,411 shares of company stock worth $295,921,070 in the last quarter. 52.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Altice USA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATUS. Aristeia Capital L.L.C. bought a new stake in shares of Altice USA in the 2nd quarter valued at about $657,000. King Street Capital Management L.P. bought a new stake in Altice USA in the second quarter valued at approximately $5,100,000. Point72 Asset Management L.P. raised its holdings in Altice USA by 487.3% in the third quarter. Point72 Asset Management L.P. now owns 880,985 shares of the company’s stock worth $2,167,000 after purchasing an additional 730,985 shares during the period. Algert Global LLC boosted its position in shares of Altice USA by 101.3% during the third quarter. Algert Global LLC now owns 639,005 shares of the company’s stock worth $1,572,000 after purchasing an additional 321,618 shares in the last quarter. Finally, Empyrean Capital Partners LP acquired a new position in shares of Altice USA in the 2nd quarter valued at $4,080,000. Institutional investors own 54.85% of the company’s stock.

Altice USA Stock Up 2.7 %

ATUS stock opened at $2.68 on Friday. Altice USA has a twelve month low of $1.52 and a twelve month high of $3.66. The company has a market cap of $1.24 billion, a PE ratio of -7.24 and a beta of 1.53. The business’s 50-day simple moving average is $2.51 and its 200 day simple moving average is $2.21.

Altice USA (NYSE:ATUS) last issued its earnings results on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Altice USA will post -0.01 EPS for the current year.

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.