Traders Buy Shares of Charter Communications Inc. (CHTR) on Weakness
Investors purchased shares of Charter Communications Inc. (NASDAQ:CHTR) on weakness during trading hours on Thursday. $120.24 million flowed into the stock on the tick-up and $107.09 million flowed out of the stock on the tick-down, for a money net flow of $13.15 million into the stock. Of all stocks tracked, Charter Communications had the 7th highest net in-flow for the day. Charter Communications traded down ($0.42) for the day and closed at $266.27
Several research firms have recently issued reports on CHTR. Morgan Stanley restated a “buy” rating and set a $300.00 price objective on shares of Charter Communications in a report on Monday. Vetr upgraded shares of Charter Communications from a “buy” rating to a “strong-buy” rating and set a $300.54 price objective on the stock in a report on Monday. Guggenheim assumed coverage on shares of Charter Communications in a research note on Monday, August 29th. They issued a “buy” rating and a $300.00 target price on the stock. Zacks Investment Research cut shares of Charter Communications from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 29th. Finally, Argus reissued a “buy” rating and issued a $300.00 target price on shares of Charter Communications in a research note on Wednesday, August 24th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Charter Communications presently has an average rating of “Buy” and a consensus price target of $275.28.
The company has a market cap of $72.14 billion, a P/E ratio of 11.89 and a beta of 0.72. The stock has a 50-day moving average price of $254.78 and a 200 day moving average price of $224.01.
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Charter Communications (NASDAQ:CHTR) last posted its earnings results on Tuesday, August 9th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. The company earned $9.99 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Charter Communications had a net margin of 20.59% and a return on equity of 0.19%. Charter Communications’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted ($1.09) EPS. Equities research analysts anticipate that Charter Communications Inc. will post $0.60 EPS for the current fiscal year.
In other Charter Communications news, Director Mauricio Ramos acquired 1,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was acquired at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now directly owns 1,997 shares of the company’s stock, valued at $509,235. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Hargis sold 7,233 shares of Charter Communications stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $253.21, for a total transaction of $1,831,467.93. Following the completion of the sale, the executive vice president now owns 13,255 shares of the company’s stock, valued at approximately $3,356,298.55. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.
Hedge funds have recently modified their holdings of the company. CKW Financial Group acquired a new stake in shares of Charter Communications during the second quarter valued at $103,000. Brave Asset Management Inc acquired a new stake in shares of Charter Communications during the second quarter valued at $104,000. Glenmede Trust Co. NA acquired a new stake in shares of Charter Communications during the second quarter valued at $107,000. Daiwa SB Investments Ltd. acquired a new stake in shares of Charter Communications during the second quarter valued at $110,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Charter Communications during the second quarter valued at $110,000. Institutional investors and hedge funds own 77.15% of the company’s stock.
About Charter Communications
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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