Investors Sell Charter Communications Inc. (CHTR) on Strength (CHTR)
Investors sold shares of Charter Communications Inc. (NASDAQ:CHTR) on strength during trading on Friday. $82.80 million flowed into the stock on the tick-up and $119.34 million flowed out of the stock on the tick-down, for a money net flow of $36.54 million out of the stock. Of all equities tracked, Charter Communications had the 7th highest net out-flow for the day. Charter Communications traded up $2.99 for the day and closed at $243.47
Several research analysts recently issued reports on CHTR shares. Barclays PLC increased their target price on shares of Charter Communications from $204.00 to $238.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 26th. JPMorgan Chase & Co. increased 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. Deutsche Bank AG reissued a “buy” rating and set a $285.00 target price on shares of Charter Communications in a research note on Sunday, May 22nd. Morgan Stanley started coverage on shares of Charter Communications in a research note on Tuesday, June 14th. They set an “overweight” rating and a $265.00 target price on the stock. Finally, Robert W. Baird reissued a “neutral” rating and set a $230.00 target price on shares of Charter Communications in a research note on Tuesday, June 28th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $252.46.
The firm’s 50-day moving average is $228.29 and its 200-day moving average is $201.94. The company’s market capitalization is $24.76 billion.
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 the consensus estimate of ($1.36) by $0.32. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the business posted ($0.73) EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Charter Communications Inc. will post $0.60 EPS for the current year.
In related news, CMO Jonathan Hargis sold 6,350 shares of Charter Communications 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 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 is accessible through this hyperlink.
A number of hedge funds recently added to or reduced their stakes 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 during the period. 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 during the period. 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 during the period. 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 during the period. Finally, Zweig DiMenna Associates LLC bought a new stake in Charter Communications during the fourth quarter valued at $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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.