Royal London Asset Management Ltd. trimmed its stake in shares of Charter Communications Inc (NASDAQ:CHTR) by 9.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,635 shares of the company’s stock after selling 6,527 shares during the period. Royal London Asset Management Ltd.’s holdings in Charter Communications were worth $25,541,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. lifted its stake in Charter Communications by 41.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 153,034 shares of the company’s stock worth $53,087,000 after acquiring an additional 44,742 shares in the last quarter. Barings LLC lifted its stake in Charter Communications by 98.2% in the 1st quarter. Barings LLC now owns 5,086 shares of the company’s stock worth $1,765,000 after acquiring an additional 2,520 shares in the last quarter. First National Bank of Omaha purchased a new stake in Charter Communications in the 2nd quarter worth about $205,000. Stratos Wealth Partners LTD. purchased a new stake in Charter Communications in the 1st quarter worth about $235,000. Finally, Jackson Square Partners LLC lifted its stake in Charter Communications by 53.1% in the 1st quarter. Jackson Square Partners LLC now owns 1,149,607 shares of the company’s stock worth $398,810,000 after acquiring an additional 398,865 shares in the last quarter. 72.55% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ CHTR traded up $4.81 during mid-day trading on Tuesday, reaching $381.09. 52,661 shares of the company traded hands, compared to its average volume of 1,203,258. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. The stock has a market cap of $84.07 billion, a PE ratio of 72.91, a PEG ratio of 1.31 and a beta of 1.23. The company’s fifty day moving average is $397.44. Charter Communications Inc has a fifty-two week low of $272.91 and a fifty-two week high of $417.13.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 26th. The company reported $1.39 EPS for the quarter, missing the Zacks’ consensus estimate of $1.79 by ($0.40). The company had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.40 billion. Charter Communications had a net margin of 3.04% and a return on equity of 3.08%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 EPS. As a group, sell-side analysts predict that Charter Communications Inc will post 6.91 earnings per share for the current year.
Several equities research analysts recently issued reports on CHTR shares. Morgan Stanley increased their price objective on Charter Communications from $420.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Nomura upped their target price on Charter Communications from $350.00 to $380.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Citigroup started coverage on Charter Communications in a research report on Thursday, June 13th. They issued a “buy” rating and a $480.00 target price on the stock. Raymond James upped their target price on Charter Communications from $435.00 to $460.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 29th. Finally, Macquarie started coverage on Charter Communications in a research report on Wednesday, June 19th. They issued a “hold” rating and a $390.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Charter Communications has an average rating of “Hold” and a consensus target price of $415.71.
In other news, Director Lance Conn sold 927 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $400.00, for a total transaction of $370,800.00. Following the transaction, the director now owns 9,552 shares of the company’s stock, valued at approximately $3,820,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Craig A. Jacobson sold 1,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $389.78, for a total value of $389,780.00. Following the transaction, the director now directly owns 11,773 shares in the company, valued at approximately $4,588,879.94. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.
Charter Communications Company Profile
Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.
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