Charter Communications Inc. (NASDAQ:CHTR) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 13,590,527 shares, a growth of 45.1% from the August 31st total of 9,366,239 shares. Based on an average daily trading volume, of 6,751,432 shares, the short-interest ratio is currently 2.0 days. Approximately 6.3% of the company’s stock are short sold.
In related news, Director Craig A. Jacobson sold 3,000 shares of Charter Communications stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $258.15, for a total value of $774,450.00. Following the completion of the sale, the director now owns 16,563 shares of the company’s stock, valued at approximately $4,275,738.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mauricio Ramos acquired 1,000 shares of Charter Communications stock in a transaction that occurred on Thursday, August 18th. The stock was acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the purchase, the director now owns 1,997 shares in the company, valued at approximately $509,235. The disclosure for this purchase can be found here. Company insiders own 1.51% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Williams Jones & Associates LLC purchased a new stake in shares of Charter Communications during the second quarter worth approximately $879,000. Cowen Group Inc. boosted its stake in shares of Charter Communications by 118.2% in the second quarter. Cowen Group Inc. now owns 18,183 shares of the company’s stock worth $4,157,000 after buying an additional 118,183 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of Charter Communications during the second quarter worth approximately $621,000. Public Employees Retirement System of Ohio boosted its stake in shares of Charter Communications by 228.9% in the second quarter. Public Employees Retirement System of Ohio now owns 137,850 shares of the company’s stock worth $31,518,000 after buying an additional 95,933 shares in the last quarter. Finally, Calvert Investment Management Inc. boosted its stake in shares of Charter Communications by 202.8% in the second quarter. Calvert Investment Management Inc. now owns 13,388 shares of the company’s stock worth $3,061,000 after buying an additional 8,967 shares in the last quarter. Hedge funds and other institutional investors own 77.10% of the company’s stock.
Shares of Charter Communications (NASDAQ:CHTR) opened at 275.40 on Wednesday. Charter Communications has a 12 month low of $156.13 and a 12 month high of $279.95. The firm has a market capitalization of $74.61 billion, a price-to-earnings ratio of 12.30 and a beta of 0.72. The stock’s 50 day moving average is $262.77 and its 200 day moving average is $229.63.
Charter Communications (NASDAQ:CHTR) last announced its earnings results on Tuesday, August 9th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.28. Charter Communications had a net margin of 20.59% and a return on equity of 0.19%. The business earned $9.99 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the company posted ($1.09) earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Equities research analysts forecast that Charter Communications will post $0.60 earnings per share for the current fiscal year.
CHTR has been the subject of several analyst reports. Jefferies Group reaffirmed a “hold” rating on shares of Charter Communications in a research note on Saturday, June 4th. Morgan Stanley reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Charter Communications in a research note on Monday, September 12th. Raymond James Financial Inc. raised shares of Charter Communications from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $156.13 to $218.94 in a research note on Wednesday, June 1st. Wunderlich lifted their price objective on shares of Charter Communications from $254.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, June 20th. Finally, TheStreet raised shares of Charter Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $279.03.
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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