Axa trimmed its position in shares of Charter Communications Inc (NASDAQ:CHTR) by 17.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 118,124 shares of the company’s stock after selling 25,401 shares during the quarter. Axa’s holdings in Charter Communications were worth $46,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHTR. Amundi Pioneer Asset Management Inc. raised its holdings in Charter Communications by 41.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 153,034 shares of the company’s stock worth $53,087,000 after purchasing an additional 44,742 shares during the period. Barings LLC raised its holdings in Charter Communications by 98.2% in the 1st quarter. Barings LLC now owns 5,086 shares of the company’s stock worth $1,765,000 after purchasing an additional 2,520 shares during the period. First National Bank of Omaha bought a new position in Charter Communications in the 2nd quarter worth $205,000. Allen Investment Management LLC increased its stake in Charter Communications by 3.4% in the 2nd quarter. Allen Investment Management LLC now owns 461,056 shares of the company’s stock worth $182,200,000 after buying an additional 15,246 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in Charter Communications in the 1st quarter worth $235,000. 72.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on CHTR. Benchmark set a $422.00 price target on Charter Communications and gave the stock a “hold” rating in a research note on Monday, August 26th. ValuEngine lowered Charter Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Co began coverage on Charter Communications in a research note on Tuesday, August 27th. They issued a “market perform” rating and a $400.00 price target for the company. TD Securities cut their price target on Charter Communications from $460.00 to $450.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Finally, Nomura increased their price target on Charter Communications from $350.00 to $380.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $415.21.
In other news, Director Craig A. Jacobson sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $389.78, for a total transaction of $389,780.00. Following the completion of the transaction, the director now owns 11,773 shares in the company, valued at $4,588,879.94. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $370,800.00. Following the transaction, the director now owns 9,552 shares of the company’s stock, valued at approximately $3,820,800. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.
Shares of Charter Communications stock opened at $425.00 on Friday. The firm has a market cap of $93.32 billion, a price-to-earnings ratio of 71.41, a PEG ratio of 1.49 and a beta of 1.22. The business has a 50-day moving average price of $396.30 and a 200-day moving average price of $379.52. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.67. Charter Communications Inc has a twelve month low of $272.91 and a twelve month high of $431.43.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 26th. The company reported $1.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.79 by ($0.40). The firm had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Charter Communications had a net margin of 3.04% and a return on equity of 3.08%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS. On average, equities analysts expect that Charter Communications Inc will post 6.58 EPS for the current fiscal year.
About Charter Communications
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.
See Also: Gross Domestic Product (GDP)
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