Daiwa Securities Group Inc. lowered its stake in shares of Charter Communications Inc (NASDAQ:CHTR) by 20.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,455 shares of the company’s stock after selling 4,921 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Charter Communications were worth $8,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. BB&T Securities LLC raised its stake in Charter Communications by 43.5% in the second quarter. BB&T Securities LLC now owns 7,855 shares of the company’s stock valued at $3,104,000 after buying an additional 2,380 shares during the last quarter. First National Bank of Omaha purchased a new stake in Charter Communications in the second quarter valued at about $205,000. Allen Investment Management LLC raised its stake in Charter Communications by 3.4% in the second quarter. Allen Investment Management LLC now owns 461,056 shares of the company’s stock valued at $182,200,000 after buying an additional 15,246 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Charter Communications by 10.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 551,817 shares of the company’s stock valued at $218,067,000 after buying an additional 51,478 shares during the last quarter. Finally, KBC Group NV raised its stake in Charter Communications by 75.1% in the second quarter. KBC Group NV now owns 111,950 shares of the company’s stock valued at $44,241,000 after buying an additional 48,009 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors.
In related news, CMO Jonathan Hargis sold 1,234 shares of Charter Communications stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $464.80, for a total transaction of $573,563.20. Following the transaction, the chief marketing officer now owns 12,895 shares in the company, valued at $5,993,596. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lance Conn sold 1,000 shares of Charter Communications stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $460.87, for a total value of $460,870.00. Following the transaction, the director now owns 7,552 shares in the company, valued at approximately $3,480,490.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,434 shares of company stock valued at $1,603,797. 0.84% of the stock is owned by company insiders.
CHTR has been the subject of several research analyst reports. BidaskClub upgraded Charter Communications from a “hold” rating to a “buy” rating in a research note on Saturday, November 2nd. SunTrust Banks raised their price objective on Charter Communications to $495.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Sanford C. Bernstein initiated coverage on Charter Communications in a research note on Wednesday, October 16th. They issued an “outperform” rating for the company. Pivotal Research raised their price objective on Charter Communications from $500.00 to $600.00 in a research note on Friday, October 25th. Finally, Raymond James raised their price objective on Charter Communications from $460.00 to $525.00 and gave the stock a “strong-buy” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Charter Communications presently has an average rating of “Buy” and an average price target of $467.24.
CHTR stock traded up $1.32 during trading on Friday, hitting $469.76. 62,935 shares of the company traded hands, compared to its average volume of 1,072,217. The stock’s 50-day simple moving average is $437.42 and its 200 day simple moving average is $403.24. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $101.64 billion, a PE ratio of 89.99, a P/E/G ratio of 1.84 and a beta of 1.23. Charter Communications Inc has a 1 year low of $272.91 and a 1 year high of $479.18.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, October 25th. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.08. The company had revenue of $11.45 billion during the quarter, compared to analysts’ expectations of $11.42 billion. Charter Communications had a return on equity of 2.91% and a net margin of 2.76%. Charter Communications’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $2.11 earnings per share. Research analysts expect that Charter Communications Inc will post 6.78 earnings per share for the current year.
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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