Charter Communications, Inc. (CHTR) Stake Decreased by Capital Guardian Trust Co.
Capital Guardian Trust Co. lessened its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 49.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,447 shares of the company’s stock after selling 248,692 shares during the period. Charter Communications makes up 1.6% of Capital Guardian Trust Co.’s portfolio, making the stock its 12th biggest position. Capital Guardian Trust Co. owned approximately 0.10% of Charter Communications worth $86,384,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in shares of Charter Communications by 11.8% during the 2nd quarter. Swiss National Bank now owns 857,609 shares of the company’s stock valued at $288,886,000 after purchasing an additional 90,400 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Charter Communications by 43.3% during the 2nd quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock valued at $121,000 after purchasing an additional 93 shares in the last quarter. Allen Investment Management LLC bought a new position in shares of Charter Communications during the 2nd quarter valued at about $127,850,000. State of Tennessee Treasury Department lifted its holdings in shares of Charter Communications by 6.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 132,035 shares of the company’s stock valued at $44,476,000 after purchasing an additional 8,280 shares in the last quarter. Finally, Birinyi Associates Inc. bought a new position in shares of Charter Communications during the 2nd quarter valued at about $269,000. Institutional investors and hedge funds own 74.09% of the company’s stock.
Several equities analysts have recently weighed in on the company. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Charter Communications in a report on Wednesday, June 28th. Morgan Stanley boosted their target price on Charter Communications from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. HSBC Holdings plc restated a “hold” rating and issued a $360.00 target price (up previously from $300.00) on shares of Charter Communications in a research note on Tuesday, August 1st. Wells Fargo & Company restated a “market perform” rating and issued a $372.00 target price (up previously from $330.00) on shares of Charter Communications in a research note on Sunday, July 30th. Finally, Telsey Advisory Group upgraded 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 research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $379.19.
In other news, EVP Jonathan Hargis sold 10,976 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 18,025 shares in the company, valued at $7,191,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.
Charter Communications, Inc. (NASDAQ CHTR) traded up 0.68% on Friday, hitting $363.42. The company’s stock had a trading volume of 1,317,440 shares. The firm has a 50 day moving average of $389.33 and a 200-day moving average of $348.25. The stock has a market cap of $93.72 billion, a PE ratio of 104.10 and a beta of 1.10. Charter Communications, Inc. has a 12 month low of $241.50 and a 12 month high of $408.83.
Charter Communications (NASDAQ:CHTR) last posted its earnings results on Thursday, July 27th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.29). Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. During the same quarter in the prior year, the business earned $0.99 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts expect that Charter Communications, Inc. will post $0.60 earnings per share for the current fiscal year.
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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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