BloombergSen Inc. lowered its stake in shares of Charter Communications Inc. (NASDAQ:CHTR) by 8.3% during the second quarter, Holdings Channel reports. The firm owned 757,444 shares of the company’s stock after selling 68,287 shares during the period. Charter Communications comprises 18.3% of BloombergSen Inc.’s holdings, making the stock its largest position. BloombergSen Inc.’s holdings in Charter Communications were worth $173,182,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in CHTR. Orbis Allan Gray Ltd acquired a new stake in shares of Charter Communications during the first quarter valued at approximately $610,267,000. Tybourne Capital Management HK Ltd. raised its stake in shares of Charter Communications by 52.1% in the first quarter. Tybourne Capital Management HK Ltd. now owns 2,184,489 shares of the company’s stock valued at $442,206,000 after buying an additional 747,989 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Charter Communications by 715.6% in the first quarter. Renaissance Technologies LLC now owns 507,324 shares of the company’s stock valued at $102,698,000 after buying an additional 445,124 shares in the last quarter. Norges Bank acquired a new stake in shares of Charter Communications during the fourth quarter valued at approximately $66,812,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in shares of Charter Communications during the first quarter valued at approximately $52,261,000. 77.10% of the stock is currently owned by institutional investors and hedge funds.
Charter Communications Inc. (NASDAQ:CHTR) traded down 1.71% during midday trading on Thursday, reaching $271.83. The company had a trading volume of 1,793,641 shares. The stock has a market capitalization of $73.65 billion, a PE ratio of 12.14 and a beta of 0.72. Charter Communications Inc. has a 1-year low of $156.13 and a 1-year high of $279.95. The firm’s 50 day moving average is $263.36 and its 200 day moving average is $229.97.
Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the 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 company earned $9.99 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted ($1.09) earnings per share. Charter Communications’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that Charter Communications Inc. will post $0.60 EPS for the current fiscal year.
A number of brokerages recently issued reports on CHTR. Argus restated a “buy” rating and issued a $300.00 target price on shares of Charter Communications in a research note on Wednesday, August 24th. Zacks Investment Research lowered Charter Communications from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 29th. Bank of America Corp. began coverage on Charter Communications in a research note on Tuesday, August 2nd. They issued a “buy” rating and a $300.00 target price for the company. Morgan Stanley restated an “overweight” rating on shares of Charter Communications in a research note on Wednesday, June 29th. Finally, Pivotal Research raised their target price on Charter Communications from $285.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $279.62.
In other news, EVP Jonathan Hargis sold 7,233 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 13,255 shares of the company’s stock, valued at $3,356,298.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Craig A. Jacobson sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $258.15, for a total transaction of $774,450.00. Following the completion of the sale, the director now directly owns 16,563 shares of the company’s stock, valued at $4,275,738.45. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.
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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