Charter Communications, Inc. (CHTR) Position Decreased by Westpac Banking Corp
Westpac Banking Corp reduced its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 27.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 40,747 shares of the company’s stock after selling 15,497 shares during the period. Westpac Banking Corp’s holdings in Charter Communications were worth $13,726,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in CHTR. Delta Lloyd Asset Management N.V. purchased a new stake in Charter Communications during the second quarter worth $48,274,000. Swiss National Bank boosted its stake in Charter Communications by 11.8% in the second quarter. Swiss National Bank now owns 857,609 shares of the company’s stock worth $288,886,000 after buying an additional 90,400 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Charter Communications by 14.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,074 shares of the company’s stock worth $362,000 after buying an additional 136 shares in the last quarter. Commerce Bank boosted its stake in Charter Communications by 3.1% in the second quarter. Commerce Bank now owns 3,332 shares of the company’s stock worth $1,123,000 after buying an additional 99 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Charter Communications by 1.2% in the second quarter. Principal Financial Group Inc. now owns 317,584 shares of the company’s stock worth $106,978,000 after buying an additional 3,642 shares in the last quarter. Institutional investors and hedge funds own 74.15% of the company’s stock.
Shares of Charter Communications, Inc. (NASDAQ:CHTR) opened at 398.055 on Friday. The firm has a market cap of $102.65 billion, a PE ratio of 114.023 and a beta of 1.09. The company has a 50-day moving average of $378.03 and a 200-day moving average of $342.86. 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 earnings results on Thursday, July 27th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.29. The firm 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 firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. Analysts predict that Charter Communications, Inc. will post $0.60 earnings per share for the current fiscal year.
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A number of research firms have recently weighed in on CHTR. Citigroup Inc. raised their price target on shares of Charter Communications from $378.00 to $456.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. UBS AG reaffirmed a “buy” rating and issued a $450.00 price objective (up from $380.00) on shares of Charter Communications in a research report on Monday, August 14th. Telsey Advisory Group raised shares of Charter Communications from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $340.00 to $450.00 in a research report on Wednesday, August 9th. Royal Bank Of Canada increased their price objective on shares of Charter Communications from $356.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Finally, Guggenheim lowered shares of Charter Communications from a “buy” rating to a “neutral” rating and increased their price objective for the company from $370.00 to $400.00 in a research report on Thursday, August 3rd. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $382.20.
In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $399.00, for a total value of $4,379,424.00. Following the sale, the executive vice president now owns 18,025 shares of the company’s stock, valued at $7,191,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by corporate 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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