Eaton Vance Management bought a new stake in Charter Communications Inc. (NASDAQ:CHTR) during the second quarter, Holdings Channel reports. The institutional investor bought 18,000 shares of the company’s stock, valued at approximately $4,116,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. CKW Financial Group bought a new position in shares of Charter Communications during the second quarter valued at approximately $103,000. Brave Asset Management Inc bought a new position in shares of Charter Communications during the second quarter valued at approximately $104,000. Glenmede Trust Co. NA bought a new position in shares of Charter Communications during the second quarter valued at approximately $107,000. Daiwa SB Investments Ltd. bought a new position in shares of Charter Communications during the second quarter valued at approximately $110,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Charter Communications during the second quarter valued at approximately $110,000. 77.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Charter Communications Inc. (NASDAQ:CHTR) traded down 0.58% during mid-day trading on Monday, reaching $264.39. The company’s stock had a trading volume of 1,025,038 shares. The company has a market cap of $71.63 billion, a P/E ratio of 11.81 and a beta of 0.72. Charter Communications Inc. has a 12 month low of $156.13 and a 12 month high of $279.95. The company has a 50-day moving average of $253.14 and a 200-day moving average of $223.39.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.28. The business earned $9.99 billion during the quarter, compared to analyst estimates of $1.66 billion. Charter Communications had a return on equity of 0.19% and a net margin of 20.59%. Charter Communications’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.09) EPS. Equities research analysts forecast that Charter Communications Inc. will post $0.60 earnings per share for the current fiscal year.

Several brokerages have commented on CHTR. Guggenheim began coverage on Charter Communications in a report on Monday, August 29th. They set a “buy” rating and a $300.00 target price on the stock. Citigroup Inc. reissued a “buy” rating and issued a $270.00 price objective on shares of Charter Communications in a research report on Thursday, June 16th. Argus started coverage on Charter Communications in a research report on Wednesday, July 20th. They issued a “buy” rating and a $300.00 price objective for the company. Deutsche Bank AG reissued a “buy” rating and issued a $285.00 price objective on shares of Charter Communications in a research report on Sunday, May 22nd. Finally, Morgan Stanley started coverage on Charter Communications in a research report on Tuesday, June 14th. They issued an “overweight” rating and a $265.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $275.28.

In other Charter Communications news, EVP Jonathan Hargis sold 7,233 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $253.21, for a total transaction of $1,831,467.93. Following the transaction, the executive vice president now directly owns 13,255 shares of the company’s stock, valued at approximately $3,356,298.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mauricio Ramos acquired 1,000 shares of Charter Communications stock in a transaction on Thursday, August 18th. The shares were bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now owns 1,997 shares in the company, valued at approximately $509,235. The disclosure for this purchase can be found here. 1.51% of the stock is owned by insiders.

Charter Communications Company Profile

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.

5 Day Chart for NASDAQ:CHTR

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