Stock Traders Buy Large Volume of Altice USA Call Options (NYSE:ATUS)

Altice USA, Inc. (NYSE:ATUSGet Free Report) was the recipient of some unusual options trading activity on Tuesday. Traders bought 12,648 call options on the stock. This represents an increase of approximately 2,084% compared to the typical daily volume of 579 call options.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ATUS shares. Citigroup increased their price target on Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. TD Cowen lowered their target price on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.30.

Read Our Latest Research Report on ATUS

Insider Activity at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,230 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $24.50, for a total value of $19,728,135.00. Following the completion of the sale, the director now owns 6,651,882 shares of the company’s stock, valued at $162,971,109. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 15,299,331 shares of company stock worth $374,833,610. Company insiders own 52.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its position in shares of Altice USA by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock worth $11,566,000 after purchasing an additional 24,501 shares during the last quarter. Cerberus Capital Management L.P. lifted its holdings in Altice USA by 6.8% during the 3rd quarter. Cerberus Capital Management L.P. now owns 3,940,785 shares of the company’s stock worth $9,694,000 after buying an additional 250,000 shares during the last quarter. 140 Summer Partners LP acquired a new position in shares of Altice USA in the 3rd quarter worth approximately $9,004,000. LMR Partners LLP increased its holdings in shares of Altice USA by 217.5% in the 3rd quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock valued at $7,380,000 after acquiring an additional 2,055,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Altice USA by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,682,757 shares of the company’s stock valued at $6,602,000 after acquiring an additional 191,508 shares in the last quarter. 54.85% of the stock is owned by institutional investors and hedge funds.

Altice USA Stock Performance

NYSE:ATUS opened at $2.52 on Wednesday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -6.81 and a beta of 1.50. Altice USA has a one year low of $1.52 and a one year high of $3.18. The business’s 50-day simple moving average is $2.52 and its 200 day simple moving average is $2.23.

Altice USA (NYSE:ATUSGet Free Report) last posted its quarterly earnings data 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). Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Altice USA’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts predict that Altice USA will post -0.01 EPS for the current year.

About Altice USA

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Altice USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altice USA and related companies with MarketBeat.com's FREE daily email newsletter.