Acadian Asset Management LLC trimmed its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR – Free Report) by 12.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 299 shares of the company’s stock after selling 42 shares during the quarter. Acadian Asset Management LLC’s holdings in Charter Communications were worth $108,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of CHTR. Fortune Financial Advisors LLC acquired a new position in Charter Communications in the 2nd quarter worth $872,000. Brown Brothers Harriman & Co. grew its holdings in shares of Charter Communications by 17.2% during the second quarter. Brown Brothers Harriman & Co. now owns 1,952 shares of the company’s stock worth $717,000 after buying an additional 286 shares in the last quarter. Mirabella Financial Services LLP raised its position in Charter Communications by 2,823.8% in the 2nd quarter. Mirabella Financial Services LLP now owns 17,192 shares of the company’s stock valued at $6,316,000 after buying an additional 16,604 shares during the last quarter. West Branch Capital LLC bought a new stake in Charter Communications in the 2nd quarter valued at approximately $36,000. Finally, Cibc World Markets Corp boosted its position in Charter Communications by 853.1% during the 2nd quarter. Cibc World Markets Corp now owns 68,222 shares of the company’s stock worth $25,063,000 after acquiring an additional 61,064 shares during the last quarter. 93.84% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the stock. Wolfe Research raised shares of Charter Communications from a “peer perform” rating to an “outperform” rating and set a $565.00 price objective on the stock in a research report on Wednesday, August 2nd. The Goldman Sachs Group decreased their price objective on Charter Communications from $510.00 to $450.00 and set a “buy” rating for the company in a report on Monday, October 30th. Bank of America increased their price target on Charter Communications from $425.00 to $450.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. Rosenblatt Securities boosted their price target on Charter Communications from $477.00 to $482.00 and gave the stock a “buy” rating in a research report on Tuesday, September 12th. Finally, JPMorgan Chase & Co. increased their price objective on Charter Communications from $450.00 to $500.00 in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $501.52.
Insider Activity at Charter Communications
In other Charter Communications news, Chairman Thomas Rutledge sold 83,970 shares of Charter Communications stock in a transaction on Friday, November 17th. The stock was sold at an average price of $410.82, for a total value of $34,496,555.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.32% of the stock is currently owned by corporate insiders.
Charter Communications Stock Up 1.3 %
CHTR opened at $413.06 on Tuesday. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a fifty day moving average of $429.13 and a 200-day moving average of $395.02. Charter Communications, Inc. has a fifty-two week low of $302.21 and a fifty-two week high of $458.30. The company has a market capitalization of $61.10 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.65 and a beta of 1.14.
Charter Communications (NASDAQ:CHTR – Get Free Report) last issued its quarterly earnings data on Friday, October 27th. The company reported $8.25 earnings per share for the quarter, topping the consensus estimate of $7.73 by $0.52. Charter Communications had a net margin of 8.60% and a return on equity of 34.63%. The business had revenue of $13.58 billion during the quarter, compared to analysts’ expectations of $13.64 billion. During the same quarter in the previous year, the company earned $7.38 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Charter Communications, Inc. will post 31.96 EPS for the current year.
Charter Communications Company Profile
Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; security suite that protects computers from viruses and spyware, and threats from malicious actors; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.
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