Clinton Group Inc. Acquires New Holdings in Charter Communications, Inc. (CHTR)
Clinton Group Inc. acquired a new position in Charter Communications, Inc. (NASDAQ:CHTR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 27,984 shares of the company’s stock, valued at approximately $9,426,000. Charter Communications makes up approximately 1.0% of Clinton Group Inc.’s investment portfolio, making the stock its 2nd biggest holding.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Charter Communications by 2.4% in the second quarter. Vanguard Group Inc. now owns 13,814,543 shares of the company’s stock worth $4,653,428,000 after purchasing an additional 321,938 shares in the last quarter. BlackRock Inc. raised its holdings in Charter Communications by 4.1% in the second quarter. BlackRock Inc. now owns 12,709,709 shares of the company’s stock worth $4,281,266,000 after purchasing an additional 496,574 shares in the last quarter. FMR LLC raised its holdings in Charter Communications by 12.4% in the first quarter. FMR LLC now owns 10,546,100 shares of the company’s stock worth $3,451,949,000 after purchasing an additional 1,165,353 shares in the last quarter. Veritas Asset Management LLP raised its holdings in Charter Communications by 7.4% in the second quarter. Veritas Asset Management LLP now owns 3,845,110 shares of the company’s stock worth $1,295,225,000 after purchasing an additional 263,674 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Charter Communications by 10.1% in the second quarter. Jennison Associates LLC now owns 3,628,569 shares of the company’s stock worth $1,222,283,000 after purchasing an additional 331,597 shares in the last quarter. Institutional investors and hedge funds own 74.09% of the company’s stock.
Charter Communications, Inc. (NASDAQ:CHTR) traded up 0.68% during midday trading on Friday, hitting $363.42. The company had a trading volume of 1,317,440 shares. Charter Communications, Inc. has a 52 week low of $241.50 and a 52 week high of $408.83. The stock has a 50 day moving average price of $389.33 and a 200-day moving average price of $348.25. The stock has a market capitalization of $93.72 billion, a PE ratio of 104.10 and a beta of 1.10.
Charter Communications (NASDAQ:CHTR) last announced its earnings results on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that Charter Communications, Inc. will post $0.60 EPS for the current year.
Several equities analysts have recently weighed in on CHTR shares. Telsey Advisory Group downgraded Charter Communications from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $450.00 to $340.00 in a report on Tuesday, September 5th. Evercore ISI raised their price target on Charter Communications from $360.00 to $438.00 and gave the company an “outperform” rating in a report on Friday, September 15th. Royal Bank Of Canada raised their price target on Charter Communications from $356.00 to $420.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Pivotal Research restated a “buy” rating on shares of Charter Communications in a report on Sunday, July 30th. Finally, Morgan Stanley raised their price target on Charter Communications from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Monday, July 17th. Twelve investment analysts have rated the stock with a hold rating, ten 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 a consensus price target of $379.19.
In related news, EVP Jonathan Hargis sold 10,976 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 18,025 shares of the company’s stock, valued at approximately $7,191,975. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.56% of the company’s stock.
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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