Traders Sell Shares of Charter Communications Inc. (CHTR) on Strength (CHTR)
Traders sold shares of Charter Communications Inc. (NASDAQ:CHTR) on strength during trading on Thursday. $419.91 million flowed into the stock on the tick-up and $466.44 million flowed out of the stock on the tick-down, for a money net flow of $46.53 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 $11.61 for the day and closed at $268.82
Several analysts have recently commented on CHTR shares. Guggenheim started coverage on Charter Communications in a research report on Monday. They issued a “buy” rating and a $300.00 target price for the company. Argus reissued a “buy” rating and set a $300.00 price objective on shares of Charter Communications in a research report on Wednesday, August 24th. Barclays PLC lifted their price objective on Charter Communications from $204.00 to $238.00 and gave the company an “equal weight” rating in a research report on Thursday, May 26th. JPMorgan Chase & Co. lifted their price objective on Charter Communications from $236.00 to $284.00 and gave the company an “overweight” rating in a research report on Wednesday, May 18th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $285.00 price objective on shares of Charter Communications in a research report on Sunday, May 22nd. Four 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 company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $271.26.
The company has a 50-day moving average of $246.39 and a 200 day moving average of $217.96. The firm has a market cap of $72.83 billion and a price-to-earnings ratio of 12.00.
Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.28. During the same period in the prior year, the company earned ($1.09) earnings per share. The company earned $9.99 billion during the quarter, compared to the consensus estimate of $1.66 billion. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, analysts anticipate that Charter Communications Inc. will post $0.60 earnings per share for the current fiscal year.
In other news, EVP Jonathan Hargis sold 7,233 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $253.21, for a total transaction of $1,831,467.93. Following the transaction, the executive vice president now directly owns 13,255 shares of the company’s stock, valued at $3,356,298.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig A. Jacobson sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $258.15, for a total transaction of $774,450.00. Following the transaction, the director now directly owns 16,563 shares in the company, valued at $4,275,738.45. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Charter Communications stock. Ameriprise Financial Inc. raised its stake in Charter Communications Inc. (NASDAQ:CHTR) by 4.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,962 shares of the company’s stock after buying an additional 534 shares during the period. Ameriprise Financial Inc.’s holdings in Charter Communications were worth $2,190,000 as of its most recent SEC filing.
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.