Charter Communications Inc (NASDAQ:CHTR) was the target of a significant drop in short interest during the month of September. As of September 28th, there was short interest totalling 10,618,388 shares, a drop of 13.3% from the September 14th total of 12,251,307 shares. Currently, 6.3% of the shares of the company are sold short. Based on an average daily trading volume, of 1,613,951 shares, the days-to-cover ratio is currently 6.6 days.
In other Charter Communications news, EVP Richard R. Dykhouse sold 2,101 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $296.52, for a total value of $622,988.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.83% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CHTR. Veritas Asset Management LLP grew its position in shares of Charter Communications by 65.3% in the second quarter. Veritas Asset Management LLP now owns 4,434,781 shares of the company’s stock valued at $1,300,322,000 after purchasing an additional 1,752,400 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new stake in Charter Communications during the second quarter valued at $321,000. Summit Trail Advisors LLC boosted its stake in Charter Communications by 19,345.8% during the first quarter. Summit Trail Advisors LLC now owns 292,659 shares of the company’s stock valued at $293,000 after buying an additional 291,154 shares during the period. Putnam Investments LLC boosted its stake in Charter Communications by 23.7% during the second quarter. Putnam Investments LLC now owns 1,241,872 shares of the company’s stock valued at $364,129,000 after buying an additional 237,673 shares during the period. Finally, Brown Advisory Inc. boosted its stake in Charter Communications by 25.5% during the first quarter. Brown Advisory Inc. now owns 966,921 shares of the company’s stock valued at $300,925,000 after buying an additional 196,229 shares during the period. Institutional investors own 71.07% of the company’s stock.
CHTR has been the subject of a number of recent research reports. ValuEngine raised Charter Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Pivotal Research raised their target price on Charter Communications from $375.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Macquarie reissued a “buy” rating and issued a $355.00 target price on shares of Charter Communications in a research report on Wednesday, August 1st. Barclays set a $259.00 target price on Charter Communications and gave the stock a “sell” rating in a research report on Wednesday. Finally, Goldman Sachs Group raised Charter Communications from a “neutral” rating to a “buy” rating in a research report on Thursday, June 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $364.00.
Shares of NASDAQ CHTR opened at $308.74 on Friday. The firm has a market capitalization of $75.56 billion, a PE ratio of 116.21, a P/E/G ratio of 1.94 and a beta of 1.20. Charter Communications has a fifty-two week low of $250.10 and a fifty-two week high of $396.64. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.20 and a quick ratio of 0.20.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.20. The company had revenue of $10.85 billion during the quarter, compared to analysts’ expectations of $10.83 billion. Charter Communications had a return on equity of 1.45% and a net margin of 23.59%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. As a group, equities research analysts predict that Charter Communications will post 4.43 earnings per share for the current year.
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, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.
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