Charter Communications Inc. (CHTR) Sees Large Volume Increase Following Analyst Upgrade
Shares of Charter Communications Inc. (NASDAQ:CHTR) saw an uptick in trading volume on Tuesday after Telsey Advisory Group raised their price target on the stock from $246.00 to $302.00. Telsey Advisory Group currently has an outperform rating on the stock. 1,824,554 shares traded hands during mid-day trading, an increase of 5% from the previous session’s volume of 1,745,817 shares.The stock last traded at $259.49 and had previously closed at $267.85.
A number of other brokerages also recently commented on CHTR. Pivotal Research boosted their price objective on shares of Charter Communications from $333.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 26th. Macquarie boosted their price objective on shares of Charter Communications from $286.00 to $289.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 28th. Citigroup Inc. boosted their price objective on shares of Charter Communications from $270.00 to $318.00 and gave the stock a “buy” rating in a research note on Friday, September 30th. Morgan Stanley reissued a “buy” rating and issued a $300.00 price objective on shares of Charter Communications in a research note on Monday, September 12th. Finally, Vetr raised shares of Charter Communications from a “buy” rating to a “strong-buy” rating and set a $300.54 price objective for the company in a research note on Monday, September 12th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $286.85.
In other news, Director Mauricio Ramos bought 1,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the purchase, the director now directly owns 1,997 shares in the company, valued at approximately $509,235. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Craig A. Jacobson sold 3,000 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $258.15, for a total transaction of $774,450.00. Following the sale, the director now directly owns 16,563 shares in the company, valued at $4,275,738.45. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Atalanta Sosnoff Capital LLC purchased a new stake in Charter Communications during the second quarter valued at about $30,009,000. Thrax Management LLC raised its stake in Charter Communications by 47.1% in the first quarter. Thrax Management LLC now owns 153,425 shares of the company’s stock valued at $31,058,000 after buying an additional 49,156 shares during the last quarter. Suvretta Capital Management LLC raised its stake in Charter Communications by 5.6% in the first quarter. Suvretta Capital Management LLC now owns 528,101 shares of the company’s stock valued at $106,903,000 after buying an additional 28,100 shares during the last quarter. Hunt Lane Capital LP raised its stake in Charter Communications by 30.7% in the first quarter. Hunt Lane Capital LP now owns 196,000 shares of the company’s stock valued at $39,676,000 after buying an additional 46,000 shares during the last quarter. Finally, Tybourne Capital Management HK Ltd. raised its stake in Charter Communications by 52.1% in the first quarter. Tybourne Capital Management HK Ltd. now owns 2,184,489 shares of the company’s stock valued at $442,206,000 after buying an additional 747,989 shares during the last quarter. 77.10% of the stock is currently owned by institutional investors and hedge funds.
The stock has a 50 day moving average of $266.05 and a 200-day moving average of $234.29. The stock has a market cap of $70.25 billion, a price-to-earnings ratio of 11.58 and a beta of 0.67.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.28. Charter Communications had a net margin of 20.59% and a return on equity of 0.19%. The firm had revenue of $9.99 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the business earned ($1.09) EPS. Charter Communications’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that Charter Communications Inc. will post $0.60 earnings per share for the current year.
Charter Communications Company Profile
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
Receive News & Stock Ratings for Charter Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charter Communications Inc. and related stocks with our FREE daily email newsletter.