Charter Communications, Inc. (CHTR) Sees Large Decrease in Short Interest
Charter Communications, Inc. (NASDAQ:CHTR) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 11,918,193 shares, a decrease of 12.3% from the September 15th total of 13,590,527 shares. Currently, 5.5% of the company’s shares are short sold. Based on an average daily trading volume, of 1,709,338 shares, the days-to-cover ratio is presently 7.0 days.
In other news, Director Craig A. Jacobson sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $258.15, for a total value of $774,450.00. Following the completion of the transaction, the director now owns 16,563 shares of the company’s stock, valued at $4,275,738.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Hargis sold 7,233 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $253.21, for a total value of $1,831,467.93. Following the completion of the transaction, the executive vice president now directly owns 13,255 shares of the company’s stock, valued at approximately $3,356,298.55. The disclosure for this sale can be found here. 1.51% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. CKW Financial Group acquired a new position in 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 approximately $104,000. Glenmede Trust Co. NA acquired a new position in Charter Communications during the second quarter valued at approximately $107,000. Daiwa SB Investments Ltd. acquired a new position in Charter Communications during the second quarter valued at approximately $110,000. Finally, Meeder Asset Management Inc. acquired a new position in Charter Communications during the second quarter valued at approximately $110,000. 77.10% of the stock is currently owned by hedge funds and other institutional investors.
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Charter Communications (NASDAQ:CHTR) opened at 256.40 on Friday. Charter Communications has a 1-year low of $156.13 and a 1-year high of $279.95. The firm’s 50 day moving average price is $266.47 and its 200-day moving average price is $234.78. The stock has a market cap of $69.47 billion, a price-to-earnings ratio of 11.45 and a beta of 0.67.
Charter Communications (NASDAQ:CHTR) last posted its earnings results on Tuesday, August 9th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.71 by $0.28. The firm had revenue of $9.99 billion for the quarter, compared to analyst estimates of $1.66 billion. Charter Communications had a return on equity of 0.19% and a net margin of 20.59%. Charter Communications’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.09) earnings per share. On average, equities analysts anticipate that Charter Communications will post $0.60 earnings per share for the current year.
Several brokerages recently commented on CHTR. Wells Fargo & Co. reiterated an “outperform” rating on shares of Charter Communications in a report on Thursday, June 30th. Wunderlich upped their target price on Charter Communications from $254.00 to $280.00 and gave the company a “buy” rating in a report on Monday, June 20th. Pivotal Research upped their target price on Charter Communications from $285.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Citigroup Inc. reiterated a “buy” rating and issued a $270.00 target price on shares of Charter Communications in a report on Thursday, June 16th. Finally, Zacks Investment Research cut Charter Communications from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $287.86.
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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