A4 S.a. - Insider Trading Tracker

Introduction

This page provides a comprehensive analysis of the known insider trading history of A4 S.a.. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

Companies with Reported Insider Positions

The SEC filings indicate A4 S.a. has reported holdings or trades in the following companies:

How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by A4 S.a.. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases ATUS / Altice USA, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in ATUS / Altice USA, Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date	Ticker	Insider	Reported Shares	Reported Price	Adjusted Shares	Adjusted Price	Cost Basis	Days to Max	Price at Max	Max Profit ($)	Max Return (%)
There are no known unplanned open-market trades for this insider and security combination

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

Insider Sales ATUS / Altice USA, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in ATUS / Altice USA, Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date	Ticker	Insider	Reported Shares	Reported Price	Adjusted Shares	Adjusted Price	Cost Basis	Days to Min	Price at Min	Max Loss Avoided ($)	Max Loss Avoided (%)
2021-05-25	ATUS	Next Alt S.a.r.l.	2,350,000	37.2100	2,350,000	37.2100	87,443,500	351	8.7700	-66,834,000	-76.43
2020-11-23	ATUS	Next Alt S.a.r.l.	1,000,000	35.1000	1,000,000	35.1000	35,100,000
2020-09-03	ATUS	Next Alt S.a.r.l.	3,300,000	28.0700	3,300,000	28.0700	92,631,000
2020-06-22	ATUS	Next Alt S.a.r.l.	385,800	24.2200	385,800	24.2200	9,344,076
2020-06-22	ATUS	Next Alt S.a.r.l.	17,912,626	23.7000	17,912,626	23.7000	424,529,236
2020-06-19	ATUS	Next Alt S.a.r.l.	498,000	24.2300	498,000	24.2300	12,066,540
2020-06-19	ATUS	Next Alt S.a.r.l.	2,000	24.9800	2,000	24.9800	49,960
2020-06-18	ATUS	Next Alt S.a.r.l.	337,000	24.5200	337,000	24.5200	8,263,240
2020-06-17	ATUS	Next Alt S.a.r.l.	392,869	24.7200	392,869	24.7200	9,711,722
2020-06-16	ATUS	Next Alt S.a.r.l.	913,000	24.9700	913,000	24.9700	22,797,610
2020-06-15	ATUS	Next Alt S.a.r.l.	500,000	23.6800	500,000	23.6800	11,840,000
2020-06-12	ATUS	Next Alt S.a.r.l.	290,000	24.1600	290,000	24.1600	7,006,400
2020-06-11	ATUS	Next Alt S.a.r.l.	430,000	26.6400	430,000	26.6400	11,455,200
2020-06-10	ATUS	Next Alt S.a.r.l.	534,000	25.7200	534,000	25.7200	13,734,480
2020-06-09	ATUS	Next Alt S.a.r.l.	466,000	25.9200	466,000	25.9200	12,078,720
2020-06-08	ATUS	Next Alt S.a.r.l.	790,000	26.2900	790,000	26.2900	20,769,100
2020-06-05	ATUS	Next Alt S.a.r.l.	382,900	26.0700	382,900	26.0700	9,982,203
2020-06-04	ATUS	Next Alt S.a.r.l.	381,100	25.9400	381,100	25.9400	9,885,734
2020-06-02	ATUS	Next Alt S.a.r.l.	3,000,000	25.6100	3,000,000	25.6100	76,830,000
2020-06-02	ATUS	Next Alt S.a.r.l.	450,000	25.8200	450,000	25.8200	11,619,000
2020-06-01	ATUS	Next Alt S.a.r.l.	21,760	26.0000	21,760	26.0000	565,760
2020-05-29	ATUS	Next Alt S.a.r.l.	400,000	25.2200	400,000	25.2200	10,088,000
2020-05-28	ATUS	Next Alt S.a.r.l.	400,000	25.0400	400,000	25.0400	10,016,000
2020-05-27	ATUS	Next Alt S.a.r.l.	400,000	24.4600	400,000	24.4600	9,784,000
2020-05-26	ATUS	Next Alt S.a.r.l.	400,000	24.3200	400,000	24.3200	9,728,000
2020-05-20	ATUS	Next Alt S.a.r.l.	184,249	25.0000	184,249	25.0000	4,606,225
2020-05-19	ATUS	Next Alt S.a.r.l.	30,317	25.0000	30,317	25.0000	757,925
2020-03-06	ATUS	Next Alt S.a.r.l.	1,000,000	26.5600	1,000,000	26.5600	26,560,000
2020-03-05	ATUS	Next Alt S.a.r.l.	1,000,000	26.6100	1,000,000	26.6100	26,610,000
2020-03-05	ATUS	Next Alt S.a.r.l.	1,000,000	27.1500	1,000,000	27.1500	27,150,000
2019-08-15	ATUS	Next Alt S.a.r.l.	15,000,000	26.4020	15,000,000	26.4020	396,030,000

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

Insider Trading History

This table shows the complete list of insider trades made by A4 S.a. as disclosed to the Securities Exchange Commission (SEC).