Shapiro Capital Management LLC Boosts Stake in Charter Communications, Inc. (CHTR)
Shapiro Capital Management LLC lifted its position in Charter Communications, Inc. (NASDAQ:CHTR) by 28.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,700 shares of the company’s stock after buying an additional 3,700 shares during the period. Shapiro Capital Management LLC’s holdings in Charter Communications were worth $5,625,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America raised its stake in shares of Charter Communications by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 835 shares of the company’s stock worth $273,000 after buying an additional 6 shares in the last quarter. RMB Capital Management LLC raised its position in shares of Charter Communications by 1.0% during the first quarter. RMB Capital Management LLC now owns 815 shares of the company’s stock worth $267,000 after purchasing an additional 8 shares during the period. Allen Operations LLC raised its position in shares of Charter Communications by 0.8% during the first quarter. Allen Operations LLC now owns 979 shares of the company’s stock worth $320,000 after purchasing an additional 8 shares during the period. Cornerstone Advisors Inc. raised its position in shares of Charter Communications by 4.9% during the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock worth $116,000 after purchasing an additional 16 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Charter Communications by 1.2% during the first quarter. Teacher Retirement System of Texas now owns 2,309 shares of the company’s stock worth $756,000 after purchasing an additional 28 shares during the period. 74.09% of the stock is currently owned by institutional investors.
In related news, EVP Jonathan Hargis sold 10,976 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 18,025 shares of the company’s stock, valued at $7,191,975. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Charter Communications in a research report on Wednesday, June 28th. Morgan Stanley boosted 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. HSBC Holdings plc reaffirmed a “hold” rating and set a $360.00 target price (up from $300.00) on shares of Charter Communications in a research report on Tuesday, August 1st. Wells Fargo & Company reiterated a “market perform” rating and set a $372.00 price target (up previously from $330.00) on shares of Charter Communications in a report on Sunday, July 30th. Finally, Telsey Advisory Group upgraded Charter Communications from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $340.00 to $450.00 in a report on Wednesday, August 9th. Twelve equities 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 has a consensus rating of “Buy” and a consensus price target of $379.19.
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Charter Communications, Inc. (NASDAQ:CHTR) traded down 0.67% during midday trading on Tuesday, reaching $365.70. The company had a trading volume of 1,489,653 shares. Charter Communications, Inc. has a one year low of $241.50 and a one year high of $408.83. The stock’s 50 day moving average is $390.13 and its 200 day moving average is $347.95. The company has a market capitalization of $94.31 billion, a PE ratio of 104.76 and a beta of 1.10.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.52 EPS for the quarter, missing the 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 firm 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 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts forecast that Charter Communications, Inc. will post $0.60 earnings per share for the current fiscal year.
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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