JPMorgan Chase & Co. Sells 185,515 Shares of Charter Communications, Inc. (CHTR)
JPMorgan Chase & Co. reduced its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,970,713 shares of the company’s stock after selling 185,515 shares during the period. JPMorgan Chase & Co. owned approximately 1.54% of Charter Communications worth $1,337,534,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised its stake 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 buying an additional 16 shares in the last quarter. Parallel Advisors LLC raised its stake 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 buying an additional 93 shares in the last quarter. Barrett Asset Management LLC raised its stake 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 buying an additional 216 shares in the last quarter. Bessemer Group Inc. raised its stake 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 buying an additional 151 shares in the last quarter. Finally, Rational Advisors LLC bought a new stake in Charter Communications during the second quarter valued at approximately $168,000. Institutional investors and hedge funds own 74.15% of the company’s stock.
Shares of Charter Communications, Inc. (CHTR) traded down 1.52% during trading on Friday, reaching $392.48. The company had a trading volume of 1,240,566 shares. The firm has a 50-day moving average of $379.52 and a 200 day moving average of $343.36. Charter Communications, Inc. has a 52 week low of $241.50 and a 52 week high of $408.83. The firm has a market capitalization of $101.21 billion, a price-to-earnings ratio of 112.43 and a beta of 1.10.
Charter Communications (NASDAQ:CHTR) last announced its quarterly 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 for the quarter, compared to analyst estimates of $10.38 billion. Charter Communications had a return on equity of 1.15% and a net margin of 2.29%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, equities research analysts forecast that Charter Communications, Inc. will post $0.60 earnings per share for the current year.
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Several equities research analysts have commented on CHTR shares. Deutsche Bank AG restated a “buy” rating and issued a $410.00 price objective (up previously from $390.00) on shares of Charter Communications in a research report on Monday, July 31st. Pivotal Research reaffirmed a “buy” rating on shares of Charter Communications in a research note on Sunday, July 30th. BidaskClub raised Charter Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $356.00 target price on shares of Charter Communications in a research note on Thursday, May 25th. Finally, UBS AG reaffirmed 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. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $382.20.
In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $399.00, for a total transaction 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 $7,191,975. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.
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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