Recent insider trends for Altice USA, Inc. (NYSE:ATUS) have caught the attention of investors. Patters in insider activity can help analysts formulate an outlook for a stock. In the case of ATUS, the data has a lot to say about how the stock might perform going forward.
Institutions own 40.92% of Altice USA, Inc. (ATUS)’s shares. The total value of these holdings, in millions, is $2,132. Among active positions in the latest quarter, 90 holders increased their positions by a total of 48.53 million shares, 13 holders decreased the positions by a total of 3.36 million shares, and 5 holders held their positions. This works out to a net increase in ownership of 45.16 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 81 holders initiated new positions by a total of 46.98 million shares and 7 holders exited their positions by a total of 695255 shares. This nets out to an increase of 46.29 million shares and is a bullish sign for ATUS.
Insider ownership increased by a total of 0 shares, which suggests that ATUS’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a different story: insiders executed 8 buys and 4 sells, and ownership decreased by a net of 130.95 million shares.
Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. Altice USA, Inc. (NYSE:ATUS)’s short interest is 4.75 million shares, or % of the float. This represents a decrease of -12% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks.
Insider data can help an investor form an outlook on a stock, but it’s important to supplement this data with other information such as technical indicators to form a more complete view. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that ATUS is a Strong sell, which implies that ATUS is expected to underperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Altice USA, Inc. (NYSE:ATUS) is overvalued.