Parallel Advisors LLC lifted its stake in shares of Charter Communications Inc (NASDAQ:CHTR) by 16.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 611 shares of the company’s stock after acquiring an additional 87 shares during the quarter. Parallel Advisors LLC’s holdings in Charter Communications were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new stake in shares of Charter Communications during the third quarter worth $28,000. Massey Quick Simon & CO. LLC purchased a new position in Charter Communications in the third quarter valued at $35,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Charter Communications in the second quarter valued at $34,000. Mechanics Bank Trust Department purchased a new position in Charter Communications in the third quarter valued at $38,000. Finally, Ibex Wealth Advisors purchased a new position in Charter Communications in the second quarter valued at $49,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.
In other Charter Communications news, Director David C. Merritt sold 1,200 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $474.47, for a total value of $569,364.00. Following the completion of the transaction, the director now directly owns 9,276 shares of the company’s stock, valued at $4,401,183.72. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lance Conn sold 1,000 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $460.87, for a total transaction of $460,870.00. Following the completion of the transaction, the director now directly owns 7,552 shares of the company’s stock, valued at $3,480,490.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,434 shares of company stock valued at $1,603,797. 0.84% of the stock is owned by insiders.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, October 25th. The company reported $1.74 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.08. The firm had revenue of $11.45 billion during the quarter, compared to the consensus estimate of $11.42 billion. Charter Communications had a net margin of 2.76% and a return on equity of 2.91%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.11 earnings per share. Sell-side analysts expect that Charter Communications Inc will post 6.78 earnings per share for the current fiscal year.
Several equities analysts recently commented on CHTR shares. Cowen increased their target price on Charter Communications from $413.00 to $433.00 and gave the company an “in-line” rating in a report on Monday, July 29th. ValuEngine lowered Charter Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James increased their target price on Charter Communications from $460.00 to $525.00 and gave the company a “strong-buy” rating in a report on Monday, October 28th. Bank of America reissued a “buy” rating and issued a $450.00 target price (up previously from $425.00) on shares of Charter Communications in a report on Tuesday, July 30th. Finally, Argus increased their target price on Charter Communications from $440.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Charter Communications presently has an average rating of “Buy” and a consensus price target of $467.24.
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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