Sterling Investment Management LLC trimmed its position in Charter Communications, Inc. (NASDAQ:CHTR – Free Report) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,099 shares of the company’s stock after selling 77 shares during the period. Charter Communications makes up approximately 1.5% of Sterling Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. Sterling Investment Management LLC’s holdings in Charter Communications were worth $1,873,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in shares of Charter Communications in the first quarter valued at approximately $94,000. American Century Companies Inc. grew its holdings in shares of Charter Communications by 10.6% in the 1st quarter. American Century Companies Inc. now owns 3,363 shares of the company’s stock valued at $1,834,000 after acquiring an additional 322 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Charter Communications by 12,010.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,211 shares of the company’s stock valued at $660,000 after acquiring an additional 1,201 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Charter Communications by 4.5% in the 1st quarter. Cetera Investment Advisers now owns 860 shares of the company’s stock valued at $469,000 after acquiring an additional 37 shares in the last quarter. Finally, Moors & Cabot Inc. grew its holdings in shares of Charter Communications by 19.4% in the 1st quarter. Moors & Cabot Inc. now owns 727 shares of the company’s stock valued at $397,000 after acquiring an additional 118 shares in the last quarter. 93.84% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Loop Capital increased their price objective on Charter Communications from $390.00 to $405.00 and gave the company a “hold” rating in a report on Monday, July 31st. Wells Fargo & Company increased their price objective on Charter Communications from $410.00 to $450.00 and gave the company an “equal weight” rating in a report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating and set a $460.00 price target on shares of Charter Communications in a report on Monday, July 31st. Bank of America boosted their price target on Charter Communications from $425.00 to $450.00 and gave the stock a “neutral” rating in a research report on Monday, July 31st. Finally, Benchmark reaffirmed a “buy” rating and issued a $575.00 price objective on shares of Charter Communications in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Charter Communications has an average rating of “Moderate Buy” and a consensus target price of $499.64.
Charter Communications Price Performance
Shares of CHTR stock traded down $4.94 on Tuesday, reaching $450.79. The company had a trading volume of 185,977 shares, compared to its average volume of 1,172,079. The stock has a market capitalization of $67.47 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 0.74 and a beta of 1.12. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 6.84. Charter Communications, Inc. has a one year low of $297.66 and a one year high of $457.66. The business’s 50-day moving average is $414.12 and its 200 day moving average is $369.06.
Charter Communications (NASDAQ:CHTR – Get Free Report) last announced its quarterly earnings results on Friday, July 28th. The company reported $8.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.66 by $0.39. The company had revenue of $13.66 billion during the quarter, compared to the consensus estimate of $13.84 billion. Charter Communications had a net margin of 8.48% and a return on equity of 35.69%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $8.80 earnings per share. Equities research analysts forecast that Charter Communications, Inc. will post 31.33 EPS for the current fiscal year.
Insider Transactions at Charter Communications
In other news, Director Craig A. Jacobson sold 2,104 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $418.16, for a total transaction of $879,808.64. Following the sale, the director now directly owns 10,249 shares in the company, valued at $4,285,721.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.32% of the company’s stock.
Charter Communications Profile
Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; security suite that protects computers from viruses and spyware, and threats from malicious actors; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.
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