Altice USA Inc (NYSE: ATUS) stock jumped 3.65% on Friday to $2.27 against a previous-day closing price of $2.19. With 3.77 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.19 million shares. During the session, the Telecom Services company that operates in wider Communication Services sector, reached to the highest price of $2.3100 whereas the lowest price it dropped to was $2.1200. The 52-week range on ATUS shows that it touched its highest point at $5.57 and its lowest point at $2.01 during that stretch. It currently has a 1-year price target of $4.64. Beta for the stock currently stands at 1.27.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ATUS was up-trending over the past week, with a rise of 0.44%, but this was down by -24.33% over a month. Three-month performance dropped to -25.57% while six-month performance fell -14.98%. The stock lost -49.22% in the past year, while it has lost -50.65% so far this year. A look at the trailing 12-month EPS for ATUS yields -0.05 with Next year EPS estimates of 0.36. For the next quarter, that number is 0.06. This implies an EPS growth rate of 13.00% for this year and -25.84% for next year. EPS is expected to grow by 6.40% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -27.52%.
Float and Shares Shorts:
At present, 639.09 million ATUS shares are outstanding with a float of 344.36 million shares on hand for trading. On Oct 30, 2023, short shares totaled 24.73 million, which was 5.44% higher than short shares on Sep 28, 2023. In addition to Mr. Dennis Mathew as the firm’s CEO & Chairman, Mr. Michael E. Olsen serves as its General Counsel & Chief Corporate Responsibility Officer.
Through their ownership of 95.20% of ATUS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 75.85% of ATUS, in contrast to 56.25% held by mutual funds. Shares owned by individuals account for 29.81%. As the largest shareholder in ATUS with 14.01% of the stake, Clarkston Capital Partners LLC holds 37,873,881 shares worth 37,873,881. A second-largest stockholder of ATUS, The Vanguard Group, Inc., holds 21,390,574 shares, controlling over 7.91% of the firm’s shares. Redwood Capital Management LLC is the third largest shareholder in ATUS, holding 16,024,591 shares or 5.93% stake. With a 3.33% stake in ATUS, the Clarkston Partners Fund is the largest stakeholder. A total of 9,000,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.48% of ATUS stock, is the second-largest Mutual Fund holder. It holds 6,717,067 shares valued at 19.41 million. Vanguard Small Cap Index Fund holds 2.06% of the stake in ATUS, owning 5,558,991 shares worth 16.07 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ATUS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ATUS analysts setting a high price target of $16.00 and a low target of $1.20, the average target price over the next 12 months is $4.64. Based on these targets, ATUS could surge 604.85% to reach the target high and fall by -47.14% to reach the target low. Reaching the average price target will result in a growth of 104.41% from current levels.
Summary of Insider Activity:
Insiders traded ATUS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 2,154,220 while 2,105,780 shares were sold.