Traders Sell Shares of Charter Communications Inc. (CHTR) on Strength (CHTR)
Traders sold shares of Charter Communications Inc. (NASDAQ:CHTR) on strength during trading hours on Monday. $58.60 million flowed into the stock on the tick-up and $110.69 million flowed out of the stock on the tick-down, for a money net flow of $52.09 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 $2.70 for the day and closed at $239.87
A number of brokerages have recently issued reports on CHTR. Citigroup Inc. restated a “buy” rating and issued a $270.00 target price on shares of Charter Communications in a research note on Thursday, June 16th. Deutsche Bank AG restated a “buy” rating and issued a $285.00 target price on shares of Charter Communications in a research note on Sunday, May 22nd. Morgan Stanley initiated coverage on shares of Charter Communications in a research note on Tuesday, June 14th. They set an “overweight” rating and a $265.00 price objective on the stock. Robert W. Baird reiterated a “neutral” rating and set a $230.00 price objective on shares of Charter Communications in a research note on Tuesday, June 28th. Finally, Wells Fargo & Co. reiterated an “outperform” rating on shares of Charter Communications in a research note on Thursday, June 30th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $249.07.
The company’s market capitalization is $24.39 billion. The stock’s 50-day moving average is $224.88 and its 200-day moving average is $198.85.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Thursday, April 28th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.36) by $0.32. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the company posted ($0.73) EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Charter Communications Inc. will post $0.60 EPS for the current fiscal year.
In other news, CMO Jonathan Hargis sold 6,350 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now owns 13,011 shares in the company, valued at $2,796,714.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds and institutional investors recently added to or reduced their stakes in CHTR. Sei Investments Co. boosted its position 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. Korea Investment CORP bought a new position in Charter Communications during the fourth quarter valued at $1,226,000. TD Asset Management Inc. boosted its position 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. Profund Advisors LLC boosted its position in Charter Communications by 9.9% in the fourth quarter. Profund Advisors LLC now owns 7,992 shares of the company’s stock valued at $1,463,000 after buying an additional 717 shares during the period. Finally, Bank of Montreal Can boosted its position 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.
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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