Pearl River Capital LLC cut its stake in shares of Charter Communications Inc (NASDAQ:CHTR) by 71.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 201 shares of the company’s stock after selling 511 shares during the quarter. Pearl River Capital LLC’s holdings in Charter Communications were worth $79,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of CHTR. Egerton Capital UK LLP boosted its stake in Charter Communications by 21.4% during the first quarter. Egerton Capital UK LLP now owns 2,846,860 shares of the company’s stock worth $987,604,000 after acquiring an additional 502,358 shares in the last quarter. FIL Ltd boosted its stake in Charter Communications by 416.0% during the first quarter. FIL Ltd now owns 598,353 shares of the company’s stock worth $207,575,000 after acquiring an additional 482,397 shares in the last quarter. Jackson Square Partners LLC boosted its stake in Charter Communications by 53.1% during the first quarter. Jackson Square Partners LLC now owns 1,149,607 shares of the company’s stock worth $398,810,000 after acquiring an additional 398,865 shares in the last quarter. GQG Partners LLC bought a new position in Charter Communications during the first quarter worth $93,597,000. Finally, Geode Capital Management LLC boosted its stake in Charter Communications by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 2,218,112 shares of the company’s stock worth $630,980,000 after acquiring an additional 167,729 shares in the last quarter. 72.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of Charter Communications stock traded up $6.33 during trading hours on Wednesday, reaching $418.14. The company’s stock had a trading volume of 35,889 shares, compared to its average volume of 1,246,312. Charter Communications Inc has a one year low of $272.91 and a one year high of $417.13. The company has a market capitalization of $92.19 billion, a P/E ratio of 80.10, a P/E/G ratio of 1.42 and a beta of 1.22. The stock’s fifty day simple moving average is $394.34 and its two-hundred day simple moving average is $376.57. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.34 and a current ratio of 0.34.
Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, July 26th. The company reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.40). Charter Communications had a net margin of 3.04% and a return on equity of 3.08%. The business had revenue of $11.35 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period last year, the business posted $1.15 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, research analysts forecast that Charter Communications Inc will post 6.87 earnings per share for the current year.
In related news, Director Craig A. Jacobson sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $389.78, for a total transaction of $389,780.00. Following the transaction, the director now directly owns 11,773 shares of the company’s stock, valued at $4,588,879.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lance Conn sold 927 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $400.00, for a total transaction of $370,800.00. Following the transaction, the director now directly owns 9,552 shares in the company, valued at $3,820,800. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.
Several research analysts recently issued reports on CHTR shares. Cowen increased their target price on shares of Charter Communications from $413.00 to $433.00 and gave the stock an “in-line” rating in a research note on Monday, July 29th. Nomura increased their target price on shares of Charter Communications from $350.00 to $380.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Citigroup started coverage on shares of Charter Communications in a research note on Thursday, June 13th. They set a “buy” rating and a $480.00 target price on the stock. Benchmark set a $422.00 target price on shares of Charter Communications and gave the stock a “hold” rating in a research note on Monday, August 26th. Finally, Morgan Stanley increased their target price on shares of Charter Communications from $420.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Charter Communications presently has an average rating of “Hold” and an average target price of $415.21.
Charter Communications 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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