Altice USA (NYSE:ATUS) Sets New 1-Year High – Time to Buy?

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

Analyst Ratings Changes

ATUS has been the topic of several research reports. Citigroup upped their price objective on shares of Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. TD Cowen decreased their price objective on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.30.

Altice USA Price Performance

The stock’s 50-day moving average price is $2.64 and its 200-day moving average price is $2.37.

Altice USA (NYSE:ATUS) last announced its earnings results on Thursday, February 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). On average, sell-side analysts forecast that Altice USA, Inc. will post -0.06 EPS for the current year.

Insider Buying and Selling

In related news, Director Alt S.A.R.L. Next sold 805,230 shares of the company’s stock in a transaction dated Monday, December 9th. 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 sale, the director now owns 14,704,182 shares of the company’s stock, valued at $360,252,459. This represents a 5.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 8,857,515 shares of company stock valued at $217,009,118 over the last quarter. 52.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Altice USA

Institutional investors and hedge funds have recently bought and sold shares of the company. Wolverine Trading LLC bought a new stake in Altice USA during the third quarter worth about $39,000. Point72 Asset Management L.P. lifted its holdings in shares of Altice USA by 487.3% in 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 last quarter. Algert Global LLC lifted its holdings in shares of Altice USA by 101.3% in 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 last quarter. Barclays PLC lifted its holdings in shares of Altice USA by 120.3% in the third quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock worth $3,756,000 after acquiring an additional 834,030 shares during the last quarter. Finally, LMR Partners LLP lifted its holdings in shares of Altice USA by 217.5% in the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after acquiring an additional 2,055,000 shares during the last quarter. Institutional investors own 54.85% of the company’s stock.

About Altice USA

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.