Altice USA (NYSE:ATUS) Shares Gap Up – Still a Buy?

Altice USA, Inc. (NYSE:ATUS)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $2.82, but opened at $2.97. Altice USA shares last traded at $2.86, with a volume of 439,511 shares traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. 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 report on Tuesday. Citigroup upped their target price on Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, 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 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.41.

Altice USA Stock Down 3.3 %

The firm has a market capitalization of $1.28 billion, a P/E ratio of -12.06 and a beta of 1.52. The company has a fifty day simple moving average of $2.67 and a 200 day simple moving average of $2.40.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). As a group, equities analysts expect that Altice USA, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the business’s stock in a transaction on Friday, November 29th. 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 19,535,550 shares in the company, valued at $478,620,975. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 8,052,288 shares of company stock worth $197,281,056 over the last 90 days. 52.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Altice USA

Large investors have recently bought and sold shares of the business. Creative Planning boosted its holdings in shares of Altice USA by 64.1% during the 3rd quarter. Creative Planning now owns 57,616 shares of the company’s stock valued at $142,000 after acquiring an additional 22,497 shares during the last quarter. US Bancorp DE lifted its position in 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 purchasing an additional 5,000 shares during the period. GSA Capital Partners LLP purchased a new stake in Altice USA in the third quarter worth approximately $157,000. LMR Partners LLP grew its position in Altice USA by 217.5% in the 3rd quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after purchasing an additional 2,055,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Altice USA by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,402,316 shares of the company’s stock valued at $3,450,000 after buying an additional 85,936 shares during the last quarter. 54.85% of the stock is currently owned by 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.