Following these transactions, Drahi's indirect holding company, Next (LON:NXT) Alt S.a.r.l., retains ownership of 14,494,125 shares. These sales come as part of a series of transactions related to the exercise and expiration of capped call agreements with a financial institution. InvestingPro analysis indicates the stock is currently undervalued, with a strong free cash flow yield and an overall "FAIR" financial health rating. Subscribers can access 8 additional ProTips and comprehensive valuation metrics in the Pro Research Report. InvestingPro analysis indicates the stock is currently undervalued, with a strong free cash flow yield and an overall "FAIR" financial health rating. Subscribers can access 8 additional ProTips and comprehensive valuation metrics in the Pro Research Report.
Following these transactions, Drahi's indirect holding company, Next Alt S.a.r.l., retains ownership of 14,494,125 shares. These sales come as part of a series of transactions related to the exercise and expiration of capped call agreements with a financial institution.
In other recent news, Altice-USA has reported mixed results in its Q3 2024 earnings call, with TD Cowen subsequently adjusting the company's stock target. Despite a reduction in total and residential revenue, the company has seen a significant increase in mobile services revenue and remains in a strong liquidity position with no debt maturities until 2027. Altice-USA reported Q3 revenue of $2.2 billion and adjusted EBITDA of $862 million. The company also added 47,000 new fiber customers and 36,000 mobile lines during this quarter.
TD Cowen has reduced Altice-USA's price target to $3.50 from the previous $6.00, while maintaining a Buy rating. The firm acknowledges Altice-USA's progress and achievable goals, despite a potential operational turnaround starting from a weaker financial position due to lowered EBITDA. The company's new targets include significant increases in mobile and fiber subscriber additions, a reduction in capital expenditures for 2025, and an aim to achieve EBITDA margins around 40%.
These recent developments indicate Altice-USA's commitment to operational improvements and strategic growth in its fiber and mobile segments. With a focus on enhancing customer experience and operational stability, Altice-USA aims to continue its progress in the dynamic telecommunications market.
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