Altice USA (NYSE:ATUS) Reaches New 52-Week High – What’s Next?

Shares of Altice USA, Inc. (NYSE:ATUS) hit a new 52-week high on Thursday . The stock traded as high as $3.20 and last traded at $2.80, with a volume of 1896827 shares traded. The stock had previously closed at $2.71.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen dropped 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. Citigroup lifted their price target on Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.30.

Altice USA Stock Performance

The company has a 50 day simple moving average of $2.64 and a 200 day simple moving average of $2.37. The company has a market capitalization of $1.32 billion, a PE ratio of -7.74 and a beta of 1.52.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). As a group, equities research analysts anticipate that Altice USA, Inc. will post -0.06 EPS for the current year.

Insider Activity

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. 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 sale, the director now directly owns 21,146,004 shares in the company, valued at $518,077,098. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 8,857,515 shares of company stock worth $217,009,118 over the last ninety days. Corporate insiders own 52.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wolverine Trading LLC acquired a new position in Altice USA during the third quarter worth $39,000. Point72 Asset Management L.P. increased its position in shares of Altice USA by 487.3% during the third 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 during the period. Algert Global LLC increased 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 acquiring an additional 321,618 shares during the period. Barclays PLC increased its holdings in Altice USA by 120.3% in the third quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock valued at $3,756,000 after buying an additional 834,030 shares during the last quarter. Finally, LMR Partners LLP increased its holdings in Altice USA by 217.5% in the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock valued at $7,380,000 after buying an additional 2,055,000 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.

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.