Platinum Investment Management Ltd. raised its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR – Free Report) by 8.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 406 shares of the company’s stock after buying an additional 33 shares during the period. Platinum Investment Management Ltd.’s holdings in Charter Communications were worth $149,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of CHTR. Colonial Trust Co SC increased its stake in shares of Charter Communications by 111.1% in the 1st quarter. Colonial Trust Co SC now owns 76 shares of the company’s stock valued at $27,000 after purchasing an additional 40 shares in the last quarter. West Branch Capital LLC purchased a new position in shares of Charter Communications in the 2nd quarter valued at about $36,000. Capital Advisors Ltd. LLC increased its stake in shares of Charter Communications by 307.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 110 shares of the company’s stock valued at $40,000 after purchasing an additional 83 shares in the last quarter. Ellevest Inc. increased its stake in shares of Charter Communications by 54.1% in the 1st quarter. Ellevest Inc. now owns 114 shares of the company’s stock valued at $41,000 after purchasing an additional 40 shares in the last quarter. Finally, PSI Advisors LLC increased its stake in shares of Charter Communications by 364.0% in the 2nd quarter. PSI Advisors LLC now owns 116 shares of the company’s stock valued at $43,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 93.84% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on CHTR shares. Wolfe Research upgraded Charter Communications from a “peer perform” rating to an “outperform” rating and set a $565.00 price target for the company in a research note on Wednesday, August 2nd. Bank of America lifted their price objective on Charter Communications from $425.00 to $450.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. Wells Fargo & Company upgraded Charter Communications from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $450.00 to $550.00 in a report on Friday, September 22nd. Morgan Stanley lowered their price objective on Charter Communications from $500.00 to $475.00 and set an “equal weight” rating on the stock in a report on Monday, October 30th. Finally, Benchmark lifted their price objective on Charter Communications from $575.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. One investment 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $501.52.
Charter Communications Trading Down 3.6 %
Shares of NASDAQ CHTR traded down $14.87 during mid-day trading on Tuesday, reaching $398.19. 456,502 shares of the company’s stock were exchanged, compared to its average volume of 1,134,606. The firm has a market capitalization of $58.90 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.65 and a beta of 1.14. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.33 and a current ratio of 0.33. Charter Communications, Inc. has a 52-week low of $302.21 and a 52-week high of $458.30. The company’s 50-day moving average is $429.13 and its 200-day moving average is $395.02.
Charter Communications (NASDAQ:CHTR – Get Free Report) last released its quarterly earnings results on Friday, October 27th. The company reported $8.25 earnings per share for the quarter, topping analysts’ consensus estimates of $7.73 by $0.52. The business had revenue of $13.58 billion during the quarter, compared to analysts’ expectations of $13.64 billion. Charter Communications had a return on equity of 34.63% and a net margin of 8.60%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $7.38 EPS. Analysts expect that Charter Communications, Inc. will post 31.96 EPS for the current fiscal year.
Insider Buying and Selling at Charter Communications
In other Charter Communications news, Chairman Thomas Rutledge sold 87,903 shares of Charter Communications stock in a transaction dated Tuesday, November 14th. The stock was 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 directly owns 132,798 shares of the company’s stock, valued at approximately $55,027,507.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.32% of the stock is currently owned by corporate insiders.
Charter Communications Company 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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