Investors Buy Shares of Charter Communications Inc. (CHTR) on Weakness
Investors purchased shares of Charter Communications Inc. (NASDAQ:CHTR) on weakness during trading hours on Wednesday. $87.34 million flowed into the stock on the tick-up and $69.72 million flowed out of the stock on the tick-down, for a money net flow of $17.62 million into the stock. Of all stocks tracked, Charter Communications had the 17th highest net in-flow for the day. Charter Communications traded down ($0.26) for the day and closed at $237.72
A number of research analysts have recently commented on the stock. Citigroup Inc. reissued a “buy” rating and issued a $270.00 price objective on shares of Charter Communications in a research report on Thursday, June 16th. Argus started coverage on shares of Charter Communications in a research note on Wednesday, July 20th. They issued a “buy” rating and a $300.00 price objective for the company. Deutsche Bank AG reiterated a “buy” rating and issued a $285.00 price objective 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 issued an “overweight” rating and a $265.00 price objective for the company. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $230.00 price objective on shares of Charter Communications in a research note on Tuesday, June 28th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Charter Communications presently has a consensus rating of “Buy” and a consensus price target of $252.46.
The company’s 50-day moving average is $229.69 and its 200 day moving average is $203.53. The stock’s market capitalization is $24.17 billion.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Thursday, April 28th. The company reported ($1.68) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.36) by $0.32. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm posted ($0.73) EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Charter Communications Inc. will post $0.60 earnings per share for the current fiscal year.
In other Charter Communications news, CMO Jonathan Hargis sold 6,350 shares of the stock in a transaction dated Monday, May 2nd. The shares were 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 in the company, valued at $2,796,714.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Other institutional investors have modified their holdings of the company. Sei Investments Co. raised its position in shares of Charter Communications by 24.6% in the fourth quarter. Sei Investments Co. now owns 5,781 shares of the company’s stock worth $1,058,000 after buying an additional 1,143 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Charter Communications by 21.6% in the fourth quarter. TD Asset Management Inc. now owns 7,599 shares of the company’s stock worth $1,391,000 after buying an additional 1,350 shares in the last quarter. Bank of Montreal Can raised its position in shares of Charter Communications by 14.9% in the fourth quarter. Bank of Montreal Can now owns 9,277 shares of the company’s stock worth $1,698,000 after buying an additional 1,201 shares in the last quarter. Cibc World Markets Corp raised its position in shares of Charter Communications by 20.1% in the fourth quarter. Cibc World Markets Corp now owns 9,308 shares of the company’s stock worth $1,704,000 after buying an additional 1,556 shares in the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Charter Communications during the fourth quarter worth $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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