Traders Sell Shares of Charter Communications Inc. (CHTR) on Strength (CHTR)
Investors 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
A number of equities analysts recently weighed in on CHTR shares. Deutsche Bank AG reissued a “buy” rating on shares of Charter Communications in a research note on Wednesday, March 16th. Wells Fargo & Co. reissued a “buy” rating on shares of Charter Communications in a research note on Wednesday, April 6th. Wunderlich lifted their target price on shares of Charter Communications from $221.00 to $254.00 and gave the stock a “buy” rating in a research note on Monday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of Charter Communications from $236.00 to $284.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 18th. Finally, Pivotal Research reissued a “buy” rating and set a $285.00 target price (up previously from $250.00) on shares of Charter Communications in a research note on Tuesday, May 24th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $249.07.
The firm’s market capitalization is $24.12 billion. The stock’s 50-day moving average price is $224.68 and its 200 day moving average price is $198.17.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Thursday, April 28th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.36) by $0.32. During the same period last year, the business earned ($0.73) earnings per share. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Charter Communications Inc. will post $0.60 EPS for the current fiscal year.
In other news, CMO Jonathan Hargis sold 6,350 shares of the company’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $214.95, for a total value of $1,364,932.50. Following the completion of the sale, the chief marketing officer now owns 13,011 shares of the company’s stock, valued at approximately $2,796,714.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Several large investors have made changes to their positions in CHTR. Vanguard Group Inc. boosted its stake in shares of 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 shares of 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 shares of 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 shares of 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 shares of 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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