Investors 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 Wednesday. $70.49 million flowed into the stock on the tick-up and $88.29 million flowed out of the stock on the tick-down, for a money net flow of $17.80 million out of the stock. Of all equities tracked, Charter Communications had the 0th highest net out-flow for the day. Charter Communications traded up $1.18 for the day and closed at $257.21
CHTR has been the topic of several recent analyst reports. Pivotal Research reaffirmed a “buy” rating and issued a $285.00 price target (up previously from $250.00) on shares of Charter Communications in a research note on Tuesday, May 24th. Jefferies Group reiterated a “hold” rating on shares of Charter Communications in a research report on Saturday, June 4th. 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. Deutsche Bank AG lifted their price objective on Charter Communications from $230.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, May 12th. Finally, Raymond James Financial Inc. upgraded Charter Communications from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $156.13 to $218.94 in a research report on Wednesday, June 1st. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Charter Communications presently has a consensus rating of “Buy” and a consensus price target of $271.26.
The company’s 50 day moving average price is $245.52 and its 200-day moving average price is $217.60. The company has a market capitalization of $69.69 billion and a price-to-earnings ratio of 11.49.
Charter Communications (NASDAQ:CHTR) last issued its earnings results on Tuesday, August 9th. The company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.28. The business earned $9.99 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the business posted ($1.09) EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts expect that Charter Communications Inc. will post $0.60 EPS for the current fiscal year.
In other Charter Communications news, EVP Jonathan Hargis sold 7,233 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 13,255 shares of the company’s stock, valued at approximately $3,356,298.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Craig A. Jacobson sold 3,000 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 16,563 shares in the company, valued at approximately $4,275,738.45. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Charter Communications stock. Ameriprise Financial Inc. raised its position in shares of Charter Communications Inc. (NASDAQ:CHTR) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 filing with the SEC.
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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