Clarus Wealth Advisors acquired a new stake in Charter Communications Inc (NASDAQ:CHTR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 490 shares of the company’s stock, valued at approximately $259,000.
Several other large investors have also made changes to their positions in CHTR. Victory Capital Management Inc. grew its position in shares of Charter Communications by 5.7% in the fourth quarter. Victory Capital Management Inc. now owns 129,065 shares of the company’s stock valued at $62,607,000 after purchasing an additional 6,922 shares during the period. Raymond James & Associates grew its position in shares of Charter Communications by 50.7% in the fourth quarter. Raymond James & Associates now owns 36,261 shares of the company’s stock valued at $17,589,000 after purchasing an additional 12,206 shares during the period. Vestcor Investment Management Corp acquired a new position in Charter Communications in the fourth quarter valued at $1,318,000. Advisor Group Inc. boosted its holdings in Charter Communications by 203.2% in the fourth quarter. Advisor Group Inc. now owns 8,117 shares of the company’s stock valued at $3,937,000 after acquiring an additional 5,440 shares during the last quarter. Finally, Bank of Hawaii acquired a new position in Charter Communications in the fourth quarter valued at $317,000. 62.85% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on CHTR. SunTrust Banks reduced their target price on Charter Communications from $580.00 to $495.00 and set a “buy” rating on the stock in a report on Friday, April 3rd. Benchmark boosted their price objective on Charter Communications from $523.00 to $600.00 and gave the company a “buy” rating in a report on Friday, May 8th. Barclays raised Charter Communications from an “underweight” rating to an “equal weight” rating and set a $375.00 price objective for the company in a report on Wednesday, March 18th. Cfra upgraded shares of Charter Communications from a “buy” rating to a “strong-buy” rating and reduced their target price for the company from $575.00 to $525.00 in a research note on Thursday, March 26th. Finally, KeyCorp increased their target price on shares of Charter Communications from $576.00 to $604.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Charter Communications presently has an average rating of “Buy” and a consensus price target of $543.13.
In other news, CMO Jonathan Hargis sold 5,805 shares of Charter Communications stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $522.10, for a total transaction of $3,030,790.50. Also, CFO Christopher L. Winfrey sold 9,239 shares of Charter Communications stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $508.51, for a total transaction of $4,698,123.89. Following the transaction, the chief financial officer now directly owns 149,917 shares in the company, valued at $76,234,293.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,538 shares of company stock worth $23,828,889. Insiders own 1.18% of the company’s stock.
CHTR stock traded down $0.49 during midday trading on Thursday, reaching $527.82. The company’s stock had a trading volume of 3,892 shares, compared to its average volume of 1,077,886. Charter Communications Inc has a 52 week low of $345.67 and a 52 week high of $549.00. The stock has a market cap of $123.66 billion, a PE ratio of 63.88, a price-to-earnings-growth ratio of 1.22 and a beta of 1.03. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.04. The business’s 50-day simple moving average is $524.52 and its 200-day simple moving average is $498.18.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, May 1st. The company reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.85). Charter Communications had a net margin of 3.91% and a return on equity of 4.66%. The business had revenue of $11.74 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the previous year, the business posted $1.11 earnings per share. Charter Communications’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Charter Communications Inc will post 11.35 earnings per share for the current fiscal year.
About Charter Communications
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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