Mitsubishi UFJ Trust & Banking Corp Raises Position in Charter Communications, Inc. (CHTR)
Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,907 shares of the company’s stock after buying an additional 9,614 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.17% of Charter Communications worth $151,888,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Burt Wealth Advisors bought a new stake in Charter Communications during the first quarter valued at about $115,000. Cornerstone Advisors Inc. increased its stake in Charter Communications by 4.9% in the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock valued at $116,000 after buying an additional 16 shares in the last quarter. Parallel Advisors LLC increased its stake in Charter Communications by 43.3% in the second quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock valued at $121,000 after buying an additional 93 shares in the last quarter. Barrett Asset Management LLC increased its stake in Charter Communications by 118.7% in the second quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock valued at $134,000 after buying an additional 216 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Charter Communications by 50.7% in the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock valued at $152,000 after buying an additional 151 shares in the last quarter. 77.79% of the stock is owned by institutional investors and hedge funds.
Shares of Charter Communications, Inc. (CHTR) traded down 0.11% during midday trading on Friday, hitting $388.79. The company had a trading volume of 758,648 shares. The firm has a market capitalization of $100.26 billion, a P/E ratio of 111.37 and a beta of 1.09. The stock has a 50 day moving average price of $371.91 and a 200 day moving average price of $340.92. Charter Communications, Inc. has a 1-year low of $241.50 and a 1-year high of $408.83.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by $0.29. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Charter Communications had a return on equity of 1.15% and a net margin of 2.29%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, equities analysts anticipate that Charter Communications, Inc. will post $0.60 EPS for the current fiscal year.
Several equities research analysts have issued reports on CHTR shares. Royal Bank Of Canada increased their target price on Charter Communications from $356.00 to $420.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Morgan Stanley increased their target price on Charter Communications from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Pivotal Research restated a “buy” rating on shares of Charter Communications in a research report on Sunday, July 30th. Wells Fargo & Company restated a “market perform” rating on shares of Charter Communications in a research report on Wednesday, June 28th. Finally, Deutsche Bank AG restated a “buy” rating and set a $410.00 target price (up previously from $390.00) on shares of Charter Communications in a research report on Monday, July 31st. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Charter Communications currently has an average rating of “Buy” and an average price target of $382.20.
In related news, EVP Jonathan Hargis sold 10,976 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $399.00, for a total transaction of $4,379,424.00. Following the transaction, the executive vice president now directly owns 18,025 shares in the company, valued at $7,191,975. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.
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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