Charter Communications Inc. (NASDAQ:CHTR) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 13,590,527 shares, an increase of 45.1% from the August 31st total of 9,366,239 shares. Based on an average daily volume of 6,751,432 shares, the short-interest ratio is presently 2.0 days. Currently, 6.3% of the company’s shares are sold short.
Shares of Charter Communications (NASDAQ:CHTR) opened at 269.97 on Friday. The firm’s 50-day moving average price is $264.21 and its 200 day moving average price is $230.87. Charter Communications has a 12 month low of $156.13 and a 12 month high of $279.95. The company has a market cap of $73.14 billion, a PE ratio of 12.06 and a beta of 0.72.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.99 earnings per share for the quarter, topping the Zacks’ 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 business earned $9.99 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the company posted ($1.09) EPS. The company’s revenue was up 6.6% on a year-over-year basis. Equities research analysts anticipate that Charter Communications will post $0.60 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the company. Jefferies Group reiterated a “hold” rating on shares of Charter Communications in a report on Saturday, June 4th. Citigroup Inc. increased their price target on Charter Communications from $270.00 to $318.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Co. reiterated an “outperform” rating on shares of Charter Communications in a report on Thursday, June 30th. Wunderlich increased their price target on Charter Communications from $254.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, June 20th. Finally, Pivotal Research increased their price target on Charter Communications from $285.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $282.44.
In other news, EVP Jonathan Hargis sold 7,233 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $253.21, for a total value of $1,831,467.93. Following the sale, the executive vice president now directly owns 13,255 shares in the company, valued at $3,356,298.55. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mauricio Ramos purchased 1,000 shares of Charter Communications stock in a transaction dated Thursday, August 18th. The stock was acquired at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now owns 1,997 shares of the company’s stock, valued at approximately $509,235. The disclosure for this purchase can be found here. Company insiders own 1.51% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its position in shares of Charter Communications by 3.6% in the first quarter. Canada Pension Plan Investment Board now owns 1,450 shares of the company’s stock worth $294,000 after buying an additional 50 shares during the period. Harvey Capital Management Inc. boosted its position in shares of Charter Communications by 1.9% in the second quarter. Harvey Capital Management Inc. now owns 5,093 shares of the company’s stock worth $1,164,000 after buying an additional 93 shares during the period. Nordea Investment Management AB boosted its position in shares of Charter Communications by 0.6% in the second quarter. Nordea Investment Management AB now owns 30,748 shares of the company’s stock worth $7,030,000 after buying an additional 178 shares during the period. M&T Bank Corp boosted its position in shares of Charter Communications by 4.9% in the first quarter. M&T Bank Corp now owns 4,170 shares of the company’s stock worth $844,000 after buying an additional 195 shares during the period. Finally, Shinko Asset Management Co. Ltd. boosted its position in shares of Charter Communications by 131.5% in the second quarter. Shinko Asset Management Co. Ltd. now owns 551 shares of the company’s stock worth $126,000 after buying an additional 313 shares during the period. 77.10% of the stock is owned by institutional investors and hedge funds.
Charter Communications Company Profile
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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