Investors Sell Charter Communications Inc. (CHTR) on Strength (CHTR)
Investors sold shares of Charter Communications Inc. (NASDAQ:CHTR) on strength during trading on Thursday. $87.56 million flowed into the stock on the tick-up and $120.86 million flowed out of the stock on the tick-down, for a money net flow of $33.30 million out of the stock. Of all stocks tracked, Charter Communications had the 0th highest net out-flow for the day. Charter Communications traded up $4.29 for the day and closed at $240.48
Several research analysts have recently commented on the company. Citigroup Inc. reissued a “buy” rating and set a $270.00 price objective on shares of Charter Communications in a report on Thursday, June 16th. Argus assumed coverage on Charter Communications in a report on Wednesday. They set a “buy” rating and a $300.00 price objective for the company. Deutsche Bank AG reissued a “buy” rating and set a $285.00 price objective on shares of Charter Communications in a report on Sunday, May 22nd. Morgan Stanley assumed coverage on Charter Communications in a report on Tuesday, June 14th. They set an “overweight” rating and a $265.00 price objective for the company. Finally, Robert W. Baird reissued a “neutral” rating and set a $230.00 price objective on shares of Charter Communications in a report on Tuesday, June 28th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $252.46.
The company’s market capitalization is $24.46 billion. The firm’s 50 day moving average is $227.84 and its 200 day moving average is $201.46.
Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Thursday, April 28th. The company reported ($1.68) earnings per share 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. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.73) earnings per share. Analysts forecast that Charter Communications Inc. will post $0.60 EPS for the current fiscal year.
In other Charter Communications news, CMO Jonathan Hargis sold 6,350 shares of the stock in a transaction that occurred 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 transaction, the chief marketing officer now owns 13,011 shares of the company’s stock, valued at $2,796,714.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several institutional investors have recently made changes to their positions in the stock. Sei Investments Co. boosted its stake in Charter Communications by 24.6% in the fourth quarter. Sei Investments Co. now owns 5,781 shares of the company’s stock valued at $1,058,000 after buying an additional 1,143 shares in the last quarter. TD Asset Management Inc. boosted its stake in Charter Communications by 21.6% in the fourth quarter. TD Asset Management Inc. now owns 7,599 shares of the company’s stock valued at $1,391,000 after buying an additional 1,350 shares in the last quarter. Bank of Montreal Can boosted its stake in Charter Communications by 14.9% in the fourth quarter. Bank of Montreal Can now owns 9,277 shares of the company’s stock valued at $1,698,000 after buying an additional 1,201 shares in the last quarter. Cibc World Markets Corp boosted its stake in Charter Communications by 20.1% in the fourth quarter. Cibc World Markets Corp now owns 9,308 shares of the company’s stock valued at $1,704,000 after buying an additional 1,556 shares in the last quarter. Finally, Zweig DiMenna Associates LLC bought a new stake in Charter Communications during the fourth quarter valued at approximately $1,739,000.
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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