Charter Communications Inc. (CHTR) Position Cut by Steinberg Asset Management LLC
Steinberg Asset Management LLC reduced its position in shares of Charter Communications Inc. (NASDAQ:CHTR) by 51.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,222 shares of the company’s stock after selling 62,180 shares during the period. Charter Communications makes up about 3.5% of Steinberg Asset Management LLC’s holdings, making the stock its 11th largest position. Steinberg Asset Management LLC’s holdings in Charter Communications were worth $13,312,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Prudential Financial Inc. boosted its stake in shares of Charter Communications by 12.2% in the first quarter. Prudential Financial Inc. now owns 6,430 shares of the company’s stock valued at $1,302,000 after buying an additional 700 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Charter Communications by 3.6% in the first quarter. Canada Pension Plan Investment Board now owns 1,450 shares of the company’s stock valued at $294,000 after buying an additional 50 shares in the last quarter. National Pension Service boosted its stake in shares of Charter Communications by 4.4% in the first quarter. National Pension Service now owns 50,624 shares of the company’s stock valued at $10,248,000 after buying an additional 2,151 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Charter Communications during the first quarter valued at about $47,571,000. Finally, Slate Path Capital LP boosted its stake in shares of Charter Communications by 9.4% in the first quarter. Slate Path Capital LP now owns 755,000 shares of the company’s stock valued at $152,835,000 after buying an additional 65,000 shares in the last quarter. 77.29% of the stock is currently owned by institutional investors.
Shares of Charter Communications Inc. (NASDAQ:CHTR) traded up 0.58% during midday trading on Friday, hitting $272.44. The company had a trading volume of 2,111,928 shares. The company has a market cap of $73.74 billion, a price-to-earnings ratio of 16.21 and a beta of 0.93. The stock’s 50-day moving average price is $261.39 and its 200-day moving average price is $242.88. Charter Communications Inc. has a 12 month low of $156.13 and a 12 month high of $281.36.
Charter Communications (NASDAQ:CHTR) last announced its earnings results on Thursday, November 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by $0.10. Charter Communications had a net margin of 13.87% and a return on equity of 0.62%. The business earned $10.04 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 309.7% on a year-over-year basis. On average, equities research analysts forecast that Charter Communications Inc. will post $0.60 EPS for the current year.
A number of analysts recently weighed in on the stock. Morgan Stanley restated a “buy” rating and set a $300.00 target price on shares of Charter Communications in a research note on Monday, September 12th. Citigroup Inc. upped their target price 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. TheStreet upgraded shares of Charter Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. Moffett Nathanson upgraded shares of Charter Communications from a “neutral” rating to a “buy” rating in a research note on Thursday. Finally, Pivotal Research upped their target price on shares of Charter Communications from $285.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Charter Communications currently has a consensus rating of “Buy” and a consensus price target of $289.97.
In other Charter Communications news, Director Mauricio Ramos bought 1,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were bought at an average cost of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now directly owns 1,997 shares in the company, valued at approximately $509,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.51% of the stock is owned by company insiders.
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.
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