Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Altice USA Inc. shares valued at $315,284 were sold by Stewart Charles on Sep 13. At $9.99 per share, Stewart Charles sold 31,560 shares. The insider’s holdings dropped to 1,323,925 shares worth approximately $9.92 million following the completion of this transaction.
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Also, Mullen Mark sold 5,000 shares, netting a total of over 77,700 in proceeds. Following the sale of shares at $15.54 each, the insider now holds 3,500 shares.
Before that, SCHNABEL SUSAN C had added 10,000 shares to its account. In a trade valued at $145,900, the Director bought Altice USA Inc. shares for $14.59 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $0.15 million.
As published in a research note from HSBC Securities on August 10, 2022, Altice USA Inc. [ATUS] has been rated down from a Buy to a Hold and the price target has been revised to $11. This represents a 31.91% premium over Wednesday’s closing price. Analysts at New Street upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late July. As of February 23, 2022, Societe Generale has decreased its “Buy” rating to a “Hold” for ATUS. Earlier on February 23, 2022, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for ATUS stock which previously was a “an Outperform”.
Analyzing ATUS’s Price Performance
On Wednesday, Altice USA Inc. [NYSE: ATUS] plunged -5.67% to $7.49. The stock’s lowest price that day was $7.48, but it reached a high of $8.00 in the same session. During the last five days, there has been a drop of approximately -15.65%. Over the course of the year, Altice USA Inc. shares have dropped approximately -53.71%. Shares of the company reached a 52-week high of $17.23 on 01/05/22 and a 52-week low of $7.48 on 09/21/22. A 50-day SMA is recorded $10.09, while a 200-day SMA reached $11.73. Nevertheless, trading volume fell to 8.34 million shares from 5.26 million shares the previous day.
Support And Resistance Levels for Altice USA Inc. (ATUS)
According to the 24-hour chart, there is a support level at 7.31, which, if violated, would cause prices to drop to 7.14. In the upper region, resistance lies at 7.83. The next price resistance is at 8.18. RSI (Relative Strength Index) is 29.51 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.46, which suggests the price will decrease in the coming days. Percent R is at 99.72%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Altice USA Inc. subject to short interest?
Stocks of Altice USA Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 11.61 million shares to 45.0 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 33.39 million shares. A jump of 25.8% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.8 of the overall float, the days-to-cover ratio (short ratio) jumped to 11.8.
Which companies own the most shares of Altice USA Inc. (ATUS)?
According to Clarkston Capital Partners LLC filings, the company currently owns 31,366,022 shares, which is about 11.60% of the total ATUS shares outstanding. The investor’s shares have appreciated by 3,811,456 from its previous 13-F filing of 27554566.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $228,627,860. Barrow, Hanley, Mewhinney & Strau reduced a -9.73% interest valued at $184.29 million while HG Vora Capital Management LLC 0 stake. In its current portfolio, Loomis, Sayles & Co. LP holds 8,175,220 shares valued at $81.75 million.
In terms of Altice USA Inc. share price expectations, FactSet research, analysts set an average price target of $14.51 in the next 12 months, up nearly 51.13% from the previous closing price of $7.94. Analysts anticipate Altice USA Inc. stock to reach $39.00 by 2022, with the lowest price target being $9.00. In spite of this, 26 analysts ranked Altice USA Inc. stock as an Overweight at the end of 2022. On February 18, 2022, Exane BNP Paribas assigned a price target of “a Neutral” to the stock and upgraded coverage with a $11.