Patrick Drahi, a director and significant shareholder of Altice USA, Inc. (NYSE:ATUS), has sold shares in the company worth approximately $19.7 million. The transactions involved the sale of 805,227 shares of Class A common stock, with prices ranging from $23.3164 to $25.6836 per share. Currently trading at $2.57, the stock has experienced significant volatility, as highlighted by InvestingPro data, with a 52-week range of $1.52 to $3.66. Following these sales, Drahi's holdings in Altice USA are reduced to 16,314,642 shares. These transactions were part of a broader strategy involving the exercise and expiration of capped call transactions, which are financial instruments used to manage investment risk. According to InvestingPro analysis, the company currently maintains a Fair Value that suggests potential upside, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.
In other recent news, Altice USA has been a topic of conversation following mixed financial results and a lowered stock target. TD (TSX:TD) Cowen reduced its price target for Altice USA from $6.00 to $3.50, but maintained its Buy rating. This decision was influenced by the company's third-quarter performance, which showed both positive and negative financial indicators. The company reported Q3 revenue of $2.2 billion and adjusted EBITDA of $862 million, along with strong subscriber growth in its fiber and mobile segments. The company also set ambitious near-term targets, such as significant increases in mobile and fiber subscriber additions and a reduction in capital expenditures for 2025. Despite these targets, a reduced forecast for capital expenditures is expected to slow the rollout of fiber-to-the-home infrastructure. Additionally, analysts note that a lower EBITDA suggests a potential operational turnaround may start from a weaker financial position. Despite these challenges, the company remains committed to its strategic direction and growth in the telecommunications market. These developments reflect Altice USA's ongoing efforts to enhance customer experience and operational stability.
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