Altice USA sees $19.7 million in inventory gross sales by Patrick Drahi

Following these transactions, Drahi’s holdings in Altice USA have been adjusted, reflecting his continued involvement with the corporate. These gross sales have been linked to the expiration of sure capped name transactions, as famous within the submitting. Regardless of current challenges, together with a income decline of three.05% within the final twelve months, InvestingPro information exhibits the corporate maintains a powerful gross revenue margin of 67.63%. Subscribers can entry 8 extra ProTips and complete monetary evaluation by the Professional Analysis Report, obtainable completely on InvestingPro. Regardless of current challenges, together with a income decline of three.05% within the final twelve months, InvestingPro information exhibits the corporate maintains a powerful gross revenue margin of 67.63%. Subscribers can entry 8 extra ProTips and complete monetary evaluation by the Professional Analysis Report, obtainable completely on InvestingPro.

Following these transactions, Drahi’s holdings in Altice USA have been adjusted, reflecting his continued involvement with the corporate. These gross sales have been linked to the expiration of sure capped name transactions, as famous within the submitting.

In different current information, Altice USA has been experiencing important modifications and developments. The corporate introduced the transition of Colleen Schmidt, Government Vice President, Human Sources, to a Senior Advisor position to the CEO efficient December 31, 2024, as a part of its strategic changes in management. This transformation comes with a $400,000 severance bundle and different advantages for Schmidt, contingent upon sure situations.

In monetary information, Citi analysts have maintained their Purchase score on Altice USA and elevated the worth goal to $3.00, citing alternatives for value discount and optimistic value actions in 2025. TD Cowen additionally retained a Purchase score on the corporate’s inventory whereas lowering its value goal to $3.50 following blended leads to the third quarter of 2024.

Altice USA reported Q3 income of $2.2 billion and adjusted EBITDA of $862 million in its earnings name. The corporate added 47,000 new fiber prospects and 36,000 new cellular traces, reaching totals of 482,000 and 420,000 respectively. Moreover, Altice USA goals to develop its fiber and cellular buyer bases to over 1 million every by 2026 and 2027 respectively. These are the current developments in Altice USA’s operations and monetary standing.

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