Altice USA, Inc. (NYSE:ATUS) Short Interest Update

Altice USA, Inc. (NYSE:ATUS) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 23,620,000 shares, a drop of 9.6% from the November 15th total of 26,140,000 shares. Based on an average daily trading volume, of 3,330,000 shares, the days-to-cover ratio is currently 7.1 days. Currently, 11.4% of the shares of the company are sold short.

Insiders Place Their Bets

In related news, Director Alt S.A.R.L. Next sold 805,230 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the completion of the transaction, the director now owns 11,483,262 shares of the company’s stock, valued at approximately $281,339,919. The trade was a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 12,883,641 shares of company stock valued at $315,649,205 over the last ninety days. 52.90% of the stock is currently owned by insiders.

Institutional Trading of Altice USA

Institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new stake in Altice USA during the 3rd quarter valued at $27,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Altice USA during the second quarter valued at about $25,000. D.A. Davidson & CO. purchased a new stake in shares of Altice USA during the third quarter worth about $32,000. Wolverine Trading LLC bought a new stake in shares of Altice USA in the third quarter worth about $39,000. Finally, US Bancorp DE increased its holdings in Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Trading Down 2.7 %

Shares of ATUS traded down $0.07 during mid-day trading on Tuesday, reaching $2.55. The company’s stock had a trading volume of 3,550,213 shares, compared to its average volume of 3,498,740. Altice USA has a 52 week low of $1.52 and a 52 week high of $3.66. The company’s fifty day moving average price is $2.51 and its two-hundred day moving average price is $2.20. The stock has a market cap of $1.18 billion, a PE ratio of -6.89 and a beta of 1.53.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.13). The business 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 business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. Research analysts anticipate that Altice USA will post -0.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ATUS shares. 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 report on Wednesday, December 11th. TD Cowen decreased their target price 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. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.30.

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.