Charter Communications Inc. (CHTR) Short Interest Up 45.1% in September
Charter Communications Inc. (NASDAQ:CHTR) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 13,590,527 shares, a growth of 45.1% from the August 31st total of 9,366,239 shares. Based on an average trading volume of 6,751,432 shares, the days-to-cover ratio is presently 2.0 days. Approximately 6.3% of the shares of the stock are sold short.
Several equities analysts have recently commented on the company. Guggenheim assumed coverage on Charter Communications in a research report on Monday, August 29th. They set a “buy” rating and a $300.00 price objective on the stock. Argus assumed coverage on Charter Communications in a research report on Wednesday, July 20th. They set a “buy” rating and a $300.00 price objective on the stock. Citigroup Inc. reiterated a “buy” rating and set a $270.00 price objective on shares of Charter Communications in a research report on Thursday, June 16th. Morgan Stanley assumed coverage on Charter Communications in a research report on Tuesday, June 14th. They set an “overweight” rating and a $265.00 price objective on the stock. Finally, Zacks Investment Research upgraded Charter Communications from a “hold” rating to a “strong-buy” rating and set a $297.00 price objective on the stock in a research report on Friday, August 12th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $282.44.
Shares of Charter Communications (NASDAQ:CHTR) opened at 267.41 on Wednesday. The stock has a market cap of $72.45 billion, a PE ratio of 11.94 and a beta of 0.67. The firm has a 50-day moving average price of $264.68 and a 200 day moving average price of $232.39. Charter Communications has a 12-month low of $156.13 and a 12-month high of $279.95.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.28. Charter Communications had a return on equity of 0.19% and a net margin of 20.59%. The business had revenue of $9.99 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the business earned ($1.09) earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. Equities research analysts expect that Charter Communications will post $0.60 earnings per share for the current year.
In other Charter Communications news, Director Mauricio Ramos bought 1,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now directly owns 1,997 shares of the company’s stock, valued at $509,235. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 13,255 shares in the company, valued at $3,356,298.55. The disclosure for this sale can be found here. 1.51% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of CHTR. Atalanta Sosnoff Capital LLC purchased a new stake in shares of Charter Communications during the second quarter valued at about $30,009,000. Thrax Management LLC boosted its stake in shares of Charter Communications by 47.1% in the first quarter. Thrax Management LLC now owns 153,425 shares of the company’s stock valued at $31,058,000 after buying an additional 49,156 shares during the period. Suvretta Capital Management LLC boosted its stake in shares of Charter Communications by 5.6% in the first quarter. Suvretta Capital Management LLC now owns 528,101 shares of the company’s stock valued at $106,903,000 after buying an additional 28,100 shares during the period. Hunt Lane Capital LP boosted its stake in shares of Charter Communications by 30.7% in the first quarter. Hunt Lane Capital LP now owns 196,000 shares of the company’s stock valued at $39,676,000 after buying an additional 46,000 shares during the period. Finally, Tybourne Capital Management HK Ltd. boosted its stake in shares of 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. 77.10% of the stock is currently owned by hedge funds and other institutional investors.
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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