Investors Sell Charter Communications Inc. (CHTR) on Strength (CHTR)
Traders sold shares of Charter Communications Inc. (NASDAQ:CHTR) on strength during trading on Tuesday. $96.47 million flowed into the stock on the tick-up and $170.13 million flowed out of the stock on the tick-down, for a money net flow of $73.66 million out of the stock. Of all equities tracked, Charter Communications had the 0th highest net out-flow for the day. Charter Communications traded up $1.63 for the day and closed at $264.56
A number of research firms recently weighed in on CHTR. Morgan Stanley reaffirmed a “buy” rating and set a $300.00 price target on shares of Charter Communications in a research note on Monday, September 12th. Vetr raised Charter Communications from a “buy” rating to a “strong-buy” rating and set a $300.54 price objective for the company in a report on Monday, September 12th. Barclays PLC boosted their price objective on Charter Communications from $238.00 to $265.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 16th. TheStreet raised Charter Communications from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Finally, Zacks Investment Research raised Charter Communications from a “hold” rating to a “strong-buy” rating and set a $297.00 price objective for the company in a report on Friday, August 12th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Charter Communications currently has an average rating of “Buy” and an average target price of $275.28.
The firm’s 50-day moving average is $257.20 and its 200 day moving average is $226.38. The stock has a market capitalization of $71.68 billion, a price-to-earnings ratio of 11.81 and a beta of 0.72.
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Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.28. Charter Communications had a net margin of 20.59% and a return on equity of 0.19%. The business earned $9.99 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the business posted ($1.09) earnings per share. Charter Communications’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that Charter Communications Inc. will post $0.60 EPS for the current year.
In related news, Director Mauricio Ramos acquired 1,000 shares of the stock in a transaction on Thursday, August 18th. The stock was acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now directly owns 1,997 shares of the company’s stock, valued at approximately $509,235. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Hargis sold 7,233 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $253.21, for a total transaction of $1,831,467.93. Following the completion of the sale, the executive vice president now owns 13,255 shares of the company’s stock, valued at $3,356,298.55. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. CKW Financial Group bought a new stake in shares of Charter Communications during the second quarter valued at approximately $103,000. Brave Asset Management Inc acquired a new position in Charter Communications during the second quarter valued at about $104,000. Glenmede Trust Co. NA acquired a new position in Charter Communications during the second quarter valued at about $107,000. Daiwa SB Investments Ltd. acquired a new position in Charter Communications during the second quarter valued at about $110,000. Finally, Meeder Asset Management Inc. acquired a new position in Charter Communications during the second quarter valued at about $110,000. Institutional investors and hedge funds own 77.10% of the company’s stock.
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.
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