Heard Capital LLC cut its holdings in Charter Communications, Inc. (NASDAQ:CHTR – Free Report) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,660 shares of the company’s stock after selling 30 shares during the quarter. Charter Communications accounts for approximately 0.0% of Heard Capital LLC’s holdings, making the stock its 21st largest position. Heard Capital LLC’s holdings in Charter Communications were worth $610,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in CHTR. Dodge & Cox lifted its holdings in shares of Charter Communications by 2.5% during the first quarter. Dodge & Cox now owns 8,683,257 shares of the company’s stock valued at $3,105,220,000 after purchasing an additional 211,744 shares in the last quarter. Veritas Asset Management LLP boosted its holdings in shares of Charter Communications by 14.2% during the 1st quarter. Veritas Asset Management LLP now owns 2,854,540 shares of the company’s stock valued at $1,020,812,000 after acquiring an additional 354,807 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Charter Communications by 0.6% in the first quarter. Franklin Resources Inc. now owns 1,501,574 shares of the company’s stock worth $536,978,000 after acquiring an additional 9,161 shares during the period. Pzena Investment Management LLC raised its holdings in shares of Charter Communications by 104.9% during the second quarter. Pzena Investment Management LLC now owns 1,205,824 shares of the company’s stock valued at $442,984,000 after purchasing an additional 617,287 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Charter Communications by 8.0% during the first quarter. Wellington Management Group LLP now owns 1,132,651 shares of the company’s stock valued at $617,882,000 after purchasing an additional 84,302 shares during the period. 93.84% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on CHTR shares. Loop Capital boosted their target price on shares of Charter Communications from $390.00 to $405.00 and gave the company a “hold” rating in a research note on Monday, July 31st. Benchmark raised their target price on Charter Communications from $575.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. The Goldman Sachs Group reduced their price target on shares of Charter Communications from $510.00 to $450.00 and set a “buy” rating for the company in a research report on Monday, October 30th. StockNews.com began coverage on shares of Charter Communications in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company raised shares of Charter Communications from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $450.00 to $550.00 in a report on Friday, September 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $501.52.
Insider Transactions at Charter Communications
In related news, Chairman Thomas Rutledge sold 87,903 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $414.37, for a total value of $36,424,366.11. Following the completion of the transaction, the chairman now owns 132,798 shares of the company’s stock, valued at approximately $55,027,507.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.32% of the company’s stock.
Charter Communications Price Performance
NASDAQ CHTR traded up $2.14 during trading on Monday, hitting $409.84. 759,262 shares of the stock traded hands, compared to its average volume of 1,135,912. The company has a market capitalization of $60.62 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 0.65 and a beta of 1.14. Charter Communications, Inc. has a 12-month low of $302.21 and a 12-month high of $458.30. The firm has a 50-day simple moving average of $429.58 and a 200-day simple moving average of $394.57. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 6.50.
Charter Communications (NASDAQ:CHTR – Get Free Report) last posted its earnings results on Friday, October 27th. The company reported $8.25 earnings per share for the quarter, beating analysts’ consensus estimates of $7.73 by $0.52. The firm had revenue of $13.58 billion during the quarter, compared to analyst estimates of $13.64 billion. Charter Communications had a net margin of 8.60% and a return on equity of 34.63%. Charter Communications’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm posted $7.38 earnings per share. As a group, analysts predict that Charter Communications, Inc. will post 31.96 EPS for the current year.
Charter Communications Profile
Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; security suite that protects computers from viruses and spyware, and threats from malicious actors; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.
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