Mcdaniel Terry & Co. purchased a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 287 shares of the company’s stock, valued at approximately $207,000.
Several other hedge funds have also modified their holdings of CHTR. Clarus Group Inc. acquired a new position in shares of Charter Communications during the 1st quarter worth approximately $146,000. IndexIQ Advisors LLC increased its position in shares of Charter Communications by 134.3% during the first quarter. IndexIQ Advisors LLC now owns 4,657 shares of the company’s stock worth $2,873,000 after purchasing an additional 2,669 shares in the last quarter. Sowell Financial Services LLC increased its position in shares of Charter Communications by 95.8% during the first quarter. Sowell Financial Services LLC now owns 1,568 shares of the company’s stock worth $1,059,000 after purchasing an additional 767 shares in the last quarter. Alberta Investment Management Corp increased its position in shares of Charter Communications by 71.7% during the first quarter. Alberta Investment Management Corp now owns 38,302 shares of the company’s stock worth $23,633,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Claudia M.P. Batlle CRP R LLC grew its holdings in Charter Communications by 2.6% in the 1st quarter. Claudia M.P. Batlle CRP R LLC now owns 5,570 shares of the company’s stock valued at $3,437,000 after buying an additional 142 shares in the last quarter. Institutional investors and hedge funds own 69.96% of the company’s stock.
In other news, CMO Jonathan Hargis sold 7,254 shares of the business’s stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $764.94, for a total value of $5,548,874.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Thursday, July 29th. The company reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.48. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Charter Communications had a return on equity of 13.08% and a net margin of 7.78%. Charter Communications’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.63 earnings per share. As a group, sell-side analysts predict that Charter Communications, Inc. will post 21.12 EPS for the current fiscal year.
CHTR has been the subject of several analyst reports. Truist upped their target price on Charter Communications from $750.00 to $830.00 and gave the company a “buy” rating in a report on Monday, August 2nd. Argus increased their price target on Charter Communications from $775.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, August 11th. They noted that the move was a valuation call. increased their price target on Charter Communications from $708.00 to $724.00 and gave the stock a “neutral” rating in a report on Wednesday, June 2nd. Loop Capital initiated coverage on Charter Communications in a report on Monday. They set a “hold” rating and a $815.00 price target for the company. Finally, Barclays increased their price target on Charter Communications from $575.00 to $675.00 and gave the stock an “equal weight” rating in a report on Thursday, July 8th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $808.86.
About Charter Communications
Charter Communications, Inc engages in the provision of broadband communications services. Its services include Spectrum TV, Spectrum Internet, and Spectrum Voice. The firm offers business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul.
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