Traders Buy Shares of Charter Communications, Inc. (CHTR) on Weakness
Investors purchased shares of Charter Communications, Inc. (NASDAQ:CHTR) on weakness during trading hours on Wednesday. $4.74 million flowed into the stock on the tick-up and $1.93 million flowed out of the stock on the tick-down, for a money net flow of $2.81 million into the stock. Of all companies tracked, Charter Communications had the 27th highest net in-flow for the day. Charter Communications traded down ($2.20) for the day and closed at $391.13
A number of equities analysts have commented on the stock. Telsey Advisory Group downgraded shares of Charter Communications from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $450.00 to $340.00 in a research report on Tuesday. Citigroup Inc. increased their price target on shares of Charter Communications from $378.00 to $456.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. UBS AG reiterated a “buy” rating and issued a $450.00 price target (up previously from $380.00) on shares of Charter Communications in a report on Monday, August 14th. Royal Bank Of Canada increased their price target on shares of Charter Communications from $356.00 to $420.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Finally, Guggenheim downgraded shares of Charter Communications from a “buy” rating to a “neutral” rating and increased their price target for the company from $370.00 to $400.00 in a report on Thursday, August 3rd. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $375.73.
The firm’s 50-day moving average is $385.08 and its 200-day moving average is $345.06. The firm has a market capitalization of $102.03 billion, a PE ratio of 113.33 and a beta of 1.10.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.81 by $0.29. Charter Communications had a return on equity of 1.15% and a net margin of 2.29%. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. During the same quarter last year, the firm posted $0.99 earnings per share. Charter Communications’s revenue was up 3.9% compared to the same quarter last year. Analysts anticipate that Charter Communications, Inc. will post $0.60 earnings per share for the current fiscal year.
In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $399.00, for a total value of $4,379,424.00. Following the sale, the executive vice president now directly owns 18,025 shares in the company, valued at $7,191,975. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Cornerstone Advisors Inc. raised its holdings in Charter Communications by 4.9% during the 2nd quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock worth $116,000 after buying an additional 16 shares during the period. Parallel Advisors LLC raised its holdings in Charter Communications by 43.3% during the 2nd quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock worth $121,000 after buying an additional 93 shares during the period. Barrett Asset Management LLC raised its holdings in Charter Communications by 118.7% during the 2nd quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock worth $134,000 after buying an additional 216 shares during the period. Bessemer Group Inc. raised its holdings in Charter Communications by 50.7% during the 2nd quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock worth $152,000 after buying an additional 151 shares during the period. Finally, Rational Advisors LLC acquired a new stake in Charter Communications during the 2nd quarter worth about $168,000. Hedge funds and other institutional investors own 74.15% of the company’s stock.
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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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