Brokerages Set Altice USA, Inc. (NYSE:ATUS) Price Target at $2.41

Shares of Altice USA, Inc. (NYSE:ATUS) have been given an average rating of “Reduce” by the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $2.41.

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

Altice USA Stock Up 2.5 %

NYSE ATUS opened at $2.90 on Thursday. The firm has a market cap of $1.34 billion, a P/E ratio of -12.61 and a beta of 1.52. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.20. The business’s 50-day moving average price is $2.69 and its 200 day moving average price is $2.44.

Altice USA (NYSE:ATUS) last announced its earnings results on Thursday, February 13th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). As a group, analysts anticipate that Altice USA will post -0.24 earnings per share for the current year.

Insider Activity

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the transaction, the director now owns 17,925,096 shares in the company, valued at $439,164,852. This trade represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 7,247,061 shares of company stock worth $177,552,995. Company insiders own 52.90% of the company’s stock.

Institutional Investors Weigh In On Altice USA

Several institutional investors and hedge funds have recently made changes to their positions in the business. LPL Financial LLC purchased a new position in Altice USA during the 4th quarter valued at about $25,000. Quadrature Capital Ltd acquired a new stake in shares of Altice USA in the third quarter valued at approximately $27,000. Raymond James Financial Inc. purchased a new position in shares of Altice USA during the 4th quarter worth approximately $30,000. D.A. Davidson & CO. acquired a new position in shares of Altice USA during the 3rd quarter worth approximately $32,000. Finally, Wolverine Trading LLC purchased a new stake in Altice USA in the 3rd quarter valued at approximately $39,000. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

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.