Charter Communications, Inc. (CHTR) Position Reduced by State Street Corp
State Street Corp lessened its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 2.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,901,123 shares of the company’s stock after selling 232,496 shares during the quarter. State Street Corp owned about 3.84% of Charter Communications worth $3,335,200,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in Charter Communications by 43.3% in the second quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock valued at $121,000 after purchasing an additional 93 shares during the last quarter. Cornerstone Advisors Inc. increased its holdings in Charter Communications by 4.9% in the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock valued at $116,000 after purchasing an additional 16 shares during the last quarter. Barrett Asset Management LLC increased its holdings in Charter Communications by 118.7% in the second quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock valued at $134,000 after purchasing an additional 216 shares during the last quarter. Bessemer Group Inc. increased its holdings in Charter Communications by 50.7% in the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock valued at $152,000 after purchasing an additional 151 shares during the last quarter. Finally, Rational Advisors LLC bought a new stake in Charter Communications in the second quarter valued at about $168,000. Institutional investors and hedge funds own 74.10% of the company’s stock.
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In other news, EVP Jonathan Hargis sold 10,976 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $399.00, for a total value of $4,379,424.00. Following the completion of the sale, the executive vice president now directly owns 18,025 shares in the company, valued at approximately $7,191,975. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.
A number of research firms recently commented on CHTR. Macquarie reiterated a “buy” rating and issued a $430.00 price objective on shares of Charter Communications in a report on Tuesday. Robert W. Baird reiterated a “hold” rating and issued a $365.00 price objective on shares of Charter Communications in a report on Wednesday. HSBC Holdings plc reiterated a “hold” rating and issued a $360.00 price objective (up previously from $300.00) on shares of Charter Communications in a report on Tuesday, August 1st. UBS AG reiterated a “buy” rating and issued a $450.00 price objective (up previously from $380.00) on shares of Charter Communications in a report on Monday, August 14th. Finally, Telsey Advisory Group raised Charter Communications from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $340.00 to $450.00 in a research note on Wednesday, August 9th. Twelve investment 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. Charter Communications has an average rating of “Buy” and a consensus target price of $381.86.
Charter Communications, Inc. (NASDAQ CHTR) traded down 0.21% on Friday, hitting $368.93. The stock had a trading volume of 353,059 shares. The company has a 50-day moving average price of $379.63 and a 200-day moving average price of $351.32. The stock has a market capitalization of $95.14 billion, a price-to-earnings ratio of 105.68 and a beta of 1.10. Charter Communications, Inc. has a 52 week low of $241.50 and a 52 week high of $408.83.
Charter Communications (NASDAQ:CHTR) last issued its earnings results on Thursday, July 27th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.29). The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. Equities research analysts anticipate that Charter Communications, Inc. will post $0.60 earnings per share for the current fiscal year.
Charter Communications 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.
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