Charter Communications, Inc. (CHTR) Shares Sold by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. trimmed its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 30.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 677,138 shares of the company’s stock after selling 292,267 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.26% of Charter Communications worth $228,094,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Advisors Inc. boosted its holdings 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 purchasing an additional 16 shares in the last quarter. Parallel Advisors LLC boosted its holdings 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 purchasing an additional 93 shares in the last quarter. Barrett Asset Management LLC boosted its holdings 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 purchasing an additional 216 shares in the last quarter. Bessemer Group Inc. boosted its holdings 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 purchasing an additional 151 shares in the last quarter. Finally, Rational Advisors LLC acquired a new position in Charter Communications in the second quarter valued at approximately $168,000. 74.09% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Jonathan Hargis sold 10,976 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was 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 owns 18,025 shares in the company, valued at approximately $7,191,975. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.56% of the company’s stock.
Several research firms have recently weighed in on CHTR. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Charter Communications in a report on Wednesday, June 28th. BidaskClub downgraded Charter Communications from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. HSBC Holdings plc reissued a “hold” rating and issued a $360.00 price objective (up from $300.00) on shares of Charter Communications in a report on Tuesday, August 1st. Telsey Advisory Group raised 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 report on Wednesday, August 9th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $372.00 price objective (up from $330.00) on shares of Charter Communications in a report on Sunday, July 30th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $379.19.
Charter Communications, Inc. (CHTR) traded down 1.17% during midday trading on Tuesday, hitting $363.85. The stock had a trading volume of 1,091,601 shares. The stock has a 50-day moving average price of $390.13 and a 200 day moving average price of $347.95. Charter Communications, Inc. has a one year low of $241.50 and a one year high of $408.83. The firm has a market cap of $93.83 billion, a PE ratio of 104.23 and a beta of 1.10.
Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.29). Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts predict that Charter Communications, Inc. will post $0.60 earnings per share for the current year.
Charter Communications 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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