Investors Sell Charter Communications Inc. (CHTR) on Strength (CHTR)
Traders sold shares of Charter Communications Inc. (NASDAQ:CHTR) on strength during trading hours on Friday. $58.75 million flowed into the stock on the tick-up and $166.15 million flowed out of the stock on the tick-down, for a money net flow of $107.40 million out of the stock. Of all equities tracked, Charter Communications had the 0th highest net out-flow for the day. Charter Communications traded up $2.30 for the day and closed at $237.17
CHTR has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Charter Communications in a research note on Wednesday, June 29th. Wunderlich boosted their price target on Charter Communications from $254.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, June 20th. Wells Fargo & Co. reissued a “buy” rating on shares of Charter Communications in a research note on Wednesday, April 6th. Deutsche Bank AG reissued a “buy” rating on shares of Charter Communications in a research note on Wednesday, March 16th. Finally, Raymond James Financial Inc. raised Charter Communications from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $156.13 to $218.94 in a research note on Wednesday, June 1st. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $249.07.
The stock has a 50 day moving average of $224.68 and a 200 day moving average of $198.17. The company’s market capitalization is $24.12 billion.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Thursday, April 28th. The company reported ($1.68) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by $0.32. The company earned $2.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the business posted ($0.73) EPS. The business’s revenue was up 7.1% compared to the same quarter last year. Analysts forecast that Charter Communications Inc. will post $0.60 EPS for the current fiscal year.
In related news, CMO Jonathan Hargis sold 6,350 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $214.95, for a total transaction of $1,364,932.50. Following the completion of the sale, the chief marketing officer now owns 13,011 shares in the company, valued at $2,796,714.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A number of hedge funds have recently bought and sold shares of CHTR. Vanguard Group Inc. boosted its stake in Charter Communications by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 5,008,487 shares of the company’s stock worth $917,054,000 after buying an additional 150,318 shares during the period. Egerton Capital UK LLP boosted its stake in Charter Communications by 4.7% in the fourth quarter. Egerton Capital UK LLP now owns 2,151,727 shares of the company’s stock worth $393,981,000 after buying an additional 96,897 shares during the period. Harris Associates L P boosted its stake in Charter Communications by 455.5% in the fourth quarter. Harris Associates L P now owns 2,043,297 shares of the company’s stock worth $374,127,000 after buying an additional 1,675,486 shares during the period. Morgan Stanley boosted its stake in Charter Communications by 12.3% in the fourth quarter. Morgan Stanley now owns 378,455 shares of the company’s stock worth $69,295,000 after buying an additional 41,521 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Charter Communications by 18.7% in the fourth quarter. Wells Fargo & Company MN now owns 276,095 shares of the company’s stock worth $50,553,000 after buying an additional 43,430 shares during the period.
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
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