Investors Buy Charter Communications, Inc. (CHTR) on Weakness
Investors purchased shares of Charter Communications, Inc. (NASDAQ:CHTR) on weakness during trading on Thursday. $208.63 million flowed into the stock on the tick-up and $116.93 million flowed out of the stock on the tick-down, for a money net flow of $91.70 million into the stock. Of all stocks tracked, Charter Communications had the highest net in-flow for the day. Charter Communications traded down ($1.37) for the day and closed at $369.72
A number of research analysts have issued reports on the stock. Macquarie reissued a “buy” rating and set a $430.00 target price on shares of Charter Communications in a research note on Tuesday. Robert W. Baird reissued a “hold” rating and set a $365.00 target price on shares of Charter Communications in a research note on Wednesday. HSBC Holdings plc reissued a “hold” rating and set a $360.00 target price (up from $300.00) on shares of Charter Communications in a research note on Tuesday, August 1st. UBS AG reissued a “buy” rating and set a $450.00 target price (up from $380.00) on shares of Charter Communications in a research note on Monday, August 14th. Finally, Telsey Advisory Group raised shares of 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 analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $381.86.
The firm has a market capitalization of $94.75 billion, a price-to-earnings ratio of 105.24 and a beta of 1.10. The company’s 50 day moving average is $378.89 and its 200-day moving average is $351.63.
Charter Communications (NASDAQ:CHTR) last issued its earnings results on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.29). The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.99 EPS. On average, equities research analysts predict that Charter Communications, Inc. will post $0.60 EPS for the current year.
In other news, EVP Jonathan Hargis sold 10,976 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were 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 of the company’s stock, valued at approximately $7,191,975. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CHTR. BlackRock Inc. boosted its stake in shares of Charter Communications by 2,782.4% in the 1st quarter. BlackRock Inc. now owns 12,213,135 shares of the company’s stock valued at $3,997,603,000 after purchasing an additional 11,789,426 shares during the last quarter. FMR LLC boosted its stake in shares of Charter Communications by 12.4% in the 1st quarter. FMR LLC now owns 10,546,100 shares of the company’s stock valued at $3,451,949,000 after purchasing an additional 1,165,353 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Charter Communications by 2,099.6% in the 2nd quarter. Janus Henderson Group PLC now owns 604,019 shares of the company’s stock valued at $203,464,000 after purchasing an additional 576,559 shares during the last quarter. Capital World Investors boosted its stake in shares of Charter Communications by 4.1% in the 2nd quarter. Capital World Investors now owns 10,215,326 shares of the company’s stock valued at $3,441,033,000 after purchasing an additional 402,167 shares during the last quarter. Finally, Allen Investment Management LLC bought a new position in shares of Charter Communications in the 2nd quarter valued at about $127,850,000. 74.10% of the stock is currently owned by institutional investors.
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About Charter Communications
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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