RS Investment Management Co. LLC Has $53,149,000 Stake in Charter Communications Inc. (CHTR)
RS Investment Management Co. LLC lowered its stake in shares of Charter Communications Inc. (NASDAQ:CHTR) by 29.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 232,459 shares of the company’s stock after selling 98,891 shares during the period. RS Investment Management Co. LLC’s holdings in Charter Communications were worth $53,149,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Orbis Allan Gray Ltd acquired a new position in Charter Communications during the first quarter valued at $610,267,000. Tybourne Capital Management HK Ltd. increased its position in Charter Communications by 52.1% in the first quarter. Tybourne Capital Management HK Ltd. now owns 2,184,489 shares of the company’s stock valued at $442,206,000 after buying an additional 747,989 shares during the period. Renaissance Technologies LLC increased its position in Charter Communications by 715.6% in the first quarter. Renaissance Technologies LLC now owns 507,324 shares of the company’s stock valued at $102,698,000 after buying an additional 445,124 shares during the period. Norges Bank acquired a new position in Charter Communications during the fourth quarter valued at $66,812,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in Charter Communications during the first quarter valued at $52,261,000. Hedge funds and other institutional investors own 77.10% of the company’s stock.
Shares of Charter Communications Inc. (NASDAQ:CHTR) traded up 3.67% on Wednesday, reaching $274.27. 2,320,152 shares of the company’s stock were exchanged. Charter Communications Inc. has a 12 month low of $156.13 and a 12 month high of $279.95. The company has a market capitalization of $74.31 billion, a P/E ratio of 12.25 and a beta of 0.72. The firm’s 50 day moving average price is $258.30 and its 200-day moving average price is $226.72.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.28. Charter Communications had a net margin of 20.59% and a return on equity of 0.19%. The company earned $9.99 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm earned ($1.09) earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that Charter Communications Inc. will post $0.60 EPS for the current year.
CHTR has been the subject of several recent research reports. Argus restated a “buy” rating and set a $300.00 target price on shares of Charter Communications in a report on Wednesday, August 24th. Zacks Investment Research downgraded shares of Charter Communications from a “strong-buy” rating to a “hold” rating in a report on Monday, August 29th. Bank of America Corp. assumed coverage on shares of Charter Communications in a report on Tuesday, August 2nd. They set a “buy” rating and a $300.00 price target for the company. Morgan Stanley reiterated an “overweight” rating on shares of Charter Communications in a report on Wednesday, June 29th. Finally, Pivotal Research lifted their price target on shares of Charter Communications from $285.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $275.28.
In other news, EVP Jonathan Hargis sold 7,233 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $253.21, for a total value of $1,831,467.93. Following the transaction, the executive vice president now owns 13,255 shares in the company, valued at approximately $3,356,298.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig A. Jacobson sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $258.15, for a total value of $774,450.00. Following the completion of the transaction, the director now owns 16,563 shares in the company, valued at approximately $4,275,738.45. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.
About Charter Communications
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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