SLS Management LLC Buys New Position in Charter Communications, Inc. (CHTR)
SLS Management LLC purchased a new position in Charter Communications, Inc. (NASDAQ:CHTR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,070 shares of the company’s stock, valued at approximately $4,403,000. Charter Communications accounts for about 4.7% of SLS Management LLC’s investment portfolio, making the stock its 6th biggest position.
Several other large investors also recently bought and sold shares of CHTR. Cornerstone Advisors Inc. raised its holdings in Charter Communications by 4.9% during the 2nd quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock valued at $116,000 after acquiring an additional 16 shares during the period. Parallel Advisors LLC raised its holdings in Charter Communications by 43.3% during the 2nd quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock valued at $121,000 after acquiring an additional 93 shares during the period. Barrett Asset Management LLC raised its holdings in Charter Communications by 118.7% during the 2nd quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock valued at $134,000 after acquiring an additional 216 shares during the period. Bessemer Group Inc. raised its holdings in Charter Communications by 50.7% during the 2nd quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock valued at $152,000 after acquiring an additional 151 shares during the period. Finally, Rational Advisors LLC bought a new stake in Charter Communications during the 2nd quarter valued at $168,000. 74.15% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on CHTR. Citigroup Inc. boosted their target price 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 reissued a “buy” rating and set a $450.00 target price (up previously from $380.00) on shares of Charter Communications in a report on Monday, August 14th. Telsey Advisory Group cut shares of Charter Communications from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $450.00 to $340.00 in a report on Tuesday, September 5th. BidaskClub raised shares of Charter Communications from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Finally, Deutsche Bank AG reissued a “buy” rating and set a $410.00 target price (up previously from $390.00) on shares of Charter Communications in a report on Monday, July 31st. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Charter Communications currently has an average rating of “Buy” and a consensus target price of $375.73.
In related news, EVP Jonathan Hargis sold 10,976 shares of Charter Communications 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 completion of the transaction, the executive vice president now directly owns 18,025 shares of the company’s stock, valued at approximately $7,191,975. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.56% of the stock is currently owned by insiders.
Charter Communications, Inc. (NASDAQ CHTR) traded down 0.13% during mid-day trading on Tuesday, reaching $380.50. 1,544,142 shares of the company’s stock traded hands. The firm has a market cap of $98.12 billion, a price-to-earnings ratio of 108.99 and a beta of 1.10. The firm’s 50-day moving average price is $387.51 and its 200 day moving average price is $345.85. Charter Communications, Inc. has a one year low of $241.50 and a one year high of $408.83.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.29). Charter Communications had a return on equity of 1.15% and a net margin of 2.29%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts forecast that Charter Communications, Inc. will post $0.60 EPS for the current year.
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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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