Charter Communications Inc (CHTR) Stake Lifted by ETF Managers Group LLC
ETF Managers Group LLC lifted its position in Charter Communications Inc (NASDAQ:CHTR) by 9.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 460 shares of the company’s stock after purchasing an additional 41 shares during the period. ETF Managers Group LLC’s holdings in Charter Communications were worth $160,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of CHTR. Longview Partners Guernsey LTD bought a new position in shares of Charter Communications in the fourth quarter worth approximately $846,691,000. Norges Bank bought a new stake in Charter Communications in the fourth quarter valued at $360,022,000. DNB Asset Management AS boosted its holdings in Charter Communications by 1,950.6% in the first quarter. DNB Asset Management AS now owns 414,377 shares of the company’s stock valued at $143,752,000 after acquiring an additional 394,169 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in Charter Communications by 5,199.7% in the fourth quarter. Macquarie Group Ltd. now owns 243,788 shares of the company’s stock valued at $69,472,000 after acquiring an additional 239,188 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Charter Communications by 8.2% in the fourth quarter. Geode Capital Management LLC now owns 2,218,112 shares of the company’s stock valued at $630,980,000 after acquiring an additional 167,729 shares in the last quarter. Hedge funds and other institutional investors own 74.02% of the company’s stock.
In other Charter Communications news, Director Craig A. Jacobson sold 1,325 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $375.18, for a total value of $497,113.50. Following the completion of the transaction, the director now directly owns 12,773 shares in the company, valued at approximately $4,792,174.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard R. Dykhouse sold 2,019 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $348.83, for a total value of $704,287.77. Following the completion of the transaction, the executive vice president now owns 9,880 shares of the company’s stock, valued at $3,446,440.40. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.23). Charter Communications had a net margin of 2.98% and a return on equity of 2.94%. The company had revenue of $11.21 billion for the quarter, compared to the consensus estimate of $11.20 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Charter Communications Inc will post 7.4 earnings per share for the current year.
Several analysts recently weighed in on CHTR shares. TD Securities lifted their price target on shares of Charter Communications from $385.00 to $405.00 and gave the company a “buy” rating in a report on Friday, February 1st. Citigroup lifted their price target on Charter Communications from $390.00 to $427.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada set a $400.00 price target on Charter Communications and gave the stock a “buy” rating in a research report on Saturday, February 2nd. BidaskClub raised Charter Communications from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Zacks Investment Research raised Charter Communications from a “hold” rating to a “buy” rating and set a $391.00 target price for the company in a research report on Tuesday, February 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $365.88.
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Charter Communications Company Profile
Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.
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