Charter Communications, Inc. (NASDAQ:CHTR) Short Interest Update

Charter Communications, Inc. (NASDAQ:CHTR) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 14,985,512 shares, a decrease of 34.8% from the August 15th total of 22,983,789 shares. Currently, 12.7% of the company’s shares are short sold. Based on an average trading volume of 3,131,170 shares, the days-to-cover ratio is currently 4.8 days.

Charter Communications Stock Down 3.9%

NASDAQ CHTR opened at $128.17 on Friday. The stock’s 50 day moving average is $143.83 and its two-hundred day moving average is $165.29. Charter Communications has a 1-year low of $111.55 and a 1-year high of $285.82. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 3.33, a PEG ratio of 0.28 and a beta of 0.69. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.98 by $0.68. The firm had revenue of $13.53 billion during the quarter, compared to analyst estimates of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $9.18 earnings per share. Equities analysts forecast that Charter Communications will post 42.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CHTR shares. Royal Bank Of Canada reduced their price objective on Charter Communications from $160.00 to $150.00 and set a “sector perform” rating for the company in a research note on Monday, July 27th. Wells Fargo & Company cut their price target on shares of Charter Communications from $160.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, July 27th. Freedom Capital upgraded Charter Communications to a “hold” rating in a report on Friday, June 12th. The Goldman Sachs Group cut their target price on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a research report on Thursday, July 2nd. Finally, Citigroup reduced their price objective on Charter Communications from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, Charter Communications has a consensus rating of “Reduce” and a consensus target price of $216.56.

Institutional Investors Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its position in shares of Charter Communications by 304.9% during the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock valued at $1,005,222,000 after acquiring an additional 3,626,135 shares during the last quarter. Norges Bank bought a new position in shares of Charter Communications during the 4th quarter valued at about $555,383,000. State of Michigan Retirement System lifted its stake in Charter Communications by 1,547.4% in the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock valued at $93,170,000 after buying an additional 405,385 shares in the last quarter. Lind Value II ApS boosted its stake in Charter Communications by 180.5% in the 4th quarter. Lind Value II ApS now owns 618,373 shares of the company’s stock worth $129,085,000 after purchasing an additional 397,928 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of Charter Communications by 737.5% during the second quarter. Tidal Investments LLC now owns 241,503 shares of the company’s stock worth $34,344,000 after buying an additional 212,668 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company’s consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.