Insider Selling: Altice USA Inc (NYSE:ATUS) Insider Sells 30,000 Shares of Stock

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Altice USA Inc (NYSE:ATUS) insider Michael Olsen sold 30,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $27.03, for a total transaction of $810,900.00. The sale was disclosed in a document filed with the SEC, which is available at this link.

ATUS stock opened at $26.90 on Friday. Altice USA Inc has a one year low of $14.49 and a one year high of $27.74. The stock has a market capitalization of $17.29 billion, a PE ratio of 43.06 and a beta of 0.99. The company has a debt-to-equity ratio of 9.18, a quick ratio of 0.29 and a current ratio of 0.29. The company has a fifty day moving average of $25.78 and a 200-day moving average of $23.51.

Altice USA (NYSE:ATUS) last released its earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. Altice USA had a net margin of 3.16% and a return on equity of 13.57%. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the business earned ($0.13) EPS. The business’s revenue was up 3.7% on a year-over-year basis. Equities analysts forecast that Altice USA Inc will post 0.56 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in shares of Altice USA by 3.7% in the fourth quarter. Northern Trust Corp now owns 285,186 shares of the company’s stock worth $4,711,000 after acquiring an additional 10,179 shares during the period. Norges Bank bought a new position in shares of Altice USA in the fourth quarter worth $33,885,000. DNB Asset Management AS bought a new position in shares of Altice USA in the first quarter worth $523,000. Calamos Advisors LLC bought a new position in shares of Altice USA in the first quarter worth $484,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of Altice USA in the first quarter worth $645,000. Institutional investors own 50.13% of the company’s stock.

ATUS has been the subject of a number of recent research reports. TD Securities increased their price target on shares of Altice USA from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. TheStreet upgraded shares of Altice USA from a “d+” rating to a “c+” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on shares of Altice USA from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Zacks Investment Research cut shares of Altice USA from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, ValuEngine cut shares of Altice USA from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Altice USA has a consensus rating of “Buy” and a consensus target price of $29.82.

About Altice USA

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.

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