50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Altice USA sees $19.7 million stock sale by executive Patrick Drahi

Published 23/12/2024, 22:06
ATUS
-

Following these transactions, Drahi's direct ownership in Altice USA decreased, with 6,651,882 shares remaining. The sales were linked to the exercise and expiration of capped call options, as part of a debt repayment to a financial institution. These options involved the delivery of shares to the counterparty, as detailed in the Form 4 filing. According to InvestingPro data, the company's total debt represents 95% of total capital, with a concerning current ratio of 0.41, indicating potential liquidity challenges. Get access to 7 more key InvestingPro Tips and comprehensive analysis in the Pro Research Report. According to InvestingPro data, the company's total debt represents 95% of total capital, with a concerning current ratio of 0.41, indicating potential liquidity challenges. Get access to 7 more key InvestingPro Tips and comprehensive analysis in the Pro Research Report.

Following these transactions, Drahi's direct ownership in Altice USA decreased, with 6,651,882 shares remaining. The sales were linked to the exercise and expiration of capped call options, as part of a debt repayment to a financial institution. These options involved the delivery of shares to the counterparty, as detailed in the Form 4 filing.

In other recent news, Altice USA has reported key developments in its Q3 2024 Earnings Call, including a Q3 revenue of $2.2 billion and adjusted EBITDA of $862 million. The company added 47,000 new fiber customers and 36,000 new mobile lines, with aims to reach over 1 million customers in each segment by 2026 and 2027, respectively. Altice USA's CEO, Dennis Mathew, was granted a $5 million cash performance award, contingent upon the achievement of specific financial targets for the fiscal year 2027.

In other executive transitions, Colleen Schmidt, Executive Vice President, Human Resources, will transition to a Senior Advisor role before leaving the company in March 2025. Analysts from Citi and TD Cowen have maintained their Buy ratings on Altice USA. Citi highlighted opportunities for cost reduction and positive price actions in 2025, while TD Cowen acknowledged the company's progress despite a reduced EBITDA.

These are recent developments, showing Altice USA's commitment to enhancing customer experience, operational stability, and financial growth.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.