Altice USA, Inc. (NYSE:ATUS) Short Interest Down 9.6% in November

Altice USA, Inc. (NYSE:ATUS) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 23,620,000 shares, a decline of 9.6% from the November 15th total of 26,140,000 shares. Approximately 11.4% of the shares of the stock are sold short. Based on an average daily volume of 3,330,000 shares, the short-interest ratio is currently 7.1 days.

Altice USA Stock Performance

Shares of ATUS stock opened at $2.68 on Friday. Altice USA has a fifty-two week low of $1.52 and a fifty-two week high of $3.66. The stock has a 50 day simple moving average of $2.51 and a two-hundred day simple moving average of $2.21. The company has a market cap of $1.24 billion, a P/E ratio of -7.24 and a beta of 1.53.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.13). The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 EPS. On average, research analysts predict that Altice USA will post -0.01 earnings per share for the current year.

Insider Buying and Selling at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the transaction, the director now directly owns 38,055,771 shares in the company, valued at $932,366,389.50. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 12,078,411 shares of company stock worth $295,921,070 over the last three months. Corporate insiders own 52.90% of the company’s stock.

Institutional Investors Weigh In On Altice USA

Several hedge funds and other institutional investors have recently bought and sold shares of ATUS. US Bancorp DE increased its holdings in shares of Altice USA by 30.2% during the third quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after acquiring an additional 5,000 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Altice USA during the 3rd quarter valued at $27,000. Vanguard Personalized Indexing Management LLC bought a new stake in Altice USA during the 2nd quarter valued at $25,000. D.A. Davidson & CO. acquired a new position in Altice USA during the third quarter worth $32,000. Finally, Wolverine Trading LLC bought a new position in shares of Altice USA in the third quarter valued at $39,000. 54.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ATUS has been the subject of several research analyst reports. Citigroup upped their price target on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Wednesday. 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 report on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Altice USA currently has a consensus rating of “Hold” and an average target price of $2.30.

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.