Utah Retirement Systems Sells 400 Shares of Charter Communications, Inc. (CHTR)
Utah Retirement Systems decreased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 1.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 36,384 shares of the company’s stock after selling 400 shares during the period. Utah Retirement Systems’ holdings in Charter Communications were worth $12,256,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in CHTR. Parallel Advisors LLC boosted its position in shares of Charter Communications by 43.3% in the second quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock worth $121,000 after buying an additional 93 shares during the period. Cornerstone Advisors Inc. raised its stake in Charter Communications by 4.9% in the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock worth $116,000 after buying an additional 16 shares in the last quarter. Burt Wealth Advisors purchased a new stake in Charter Communications during the first quarter worth $115,000. Barrett Asset Management LLC raised 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 worth $134,000 after buying an additional 216 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in Charter Communications by 50.7% in the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock worth $152,000 after buying an additional 151 shares in the last quarter. 77.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Charter Communications, Inc. (NASDAQ:CHTR) opened at 388.79 on Friday. The firm has a 50-day moving average of $371.91 and a 200 day moving average of $340.92. The stock has a market capitalization of $100.26 billion, a price-to-earnings ratio of 111.37 and a beta of 1.09. Charter Communications, Inc. has a one year low of $241.50 and a one year high of $408.83.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $10.38 billion. Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. On average, equities research analysts predict that Charter Communications, Inc. will post $0.60 EPS for the current year.
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A number of analysts have recently weighed in on the stock. Citigroup Inc. increased their target price on shares of Charter Communications from $378.00 to $456.00 and gave the stock a “buy” rating in a report on Tuesday, August 22nd. UBS AG reiterated a “buy” rating and set a $450.00 target price (up from $380.00) on shares of Charter Communications in a report on Monday, August 14th. HSBC Holdings plc reiterated a “hold” rating and set a $360.00 target price (up from $300.00) on shares of Charter Communications in a report on Tuesday, August 1st. Telsey Advisory Group upgraded shares of Charter Communications from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $340.00 to $450.00 in a report on Wednesday, August 9th. Finally, BidaskClub upgraded shares of Charter Communications from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $382.20.
In related news, EVP Jonathan Hargis sold 10,976 shares of Charter Communications stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $399.00, for a total value of $4,379,424.00. Following the completion of the transaction, the executive vice president now owns 18,025 shares in the company, valued at $7,191,975. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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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