Altice USA, Inc. (NYSE:ATUS) Receives $2.41 Average PT from Analysts

Shares of Altice USA, Inc. (NYSE:ATUS) have received a consensus recommendation of “Reduce” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $2.41.

Several analysts recently issued reports on ATUS shares. TD Cowen lowered their price target on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. Raymond James upgraded Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 target price for the company in a research note on Tuesday, February 18th. Finally, Citigroup raised their target price on Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a report on Wednesday, December 11th.

Altice USA Stock Performance

ATUS opened at $2.76 on Thursday. Altice USA has a 1 year low of $1.52 and a 1 year high of $3.20. The firm has a 50 day moving average price of $2.68 and a 200 day moving average price of $2.41. The company has a market cap of $1.28 billion, a PE ratio of -11.98 and a beta of 1.52.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). On average, sell-side analysts predict that Altice USA will post -0.24 earnings per share for the current year.

Insider Buying and Selling at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction on Friday, November 29th. 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 19,535,550 shares in the company, valued at $478,620,975. This represents a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 8,052,288 shares of company stock worth $197,281,056 in the last 90 days. 52.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Altice USA

A number of institutional investors have recently modified their holdings of the stock. Wolverine Trading LLC acquired a new position in Altice USA in the third quarter worth about $39,000. Point72 Asset Management L.P. grew its position in shares of Altice USA by 487.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 880,985 shares of the company’s stock worth $2,167,000 after acquiring an additional 730,985 shares in the last quarter. Algert Global LLC increased its holdings in shares of Altice USA by 101.3% in the 3rd quarter. Algert Global LLC now owns 639,005 shares of the company’s stock valued at $1,572,000 after acquiring an additional 321,618 shares during the last quarter. Barclays PLC raised its position in shares of Altice USA by 120.3% during the 3rd quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock valued at $3,756,000 after acquiring an additional 834,030 shares in the last quarter. Finally, LMR Partners LLP lifted its stake in Altice USA by 217.5% during the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after purchasing an additional 2,055,000 shares during the last quarter. Institutional investors and hedge funds 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.