Man Group plc decreased its holdings in Charter Communications Inc (NASDAQ:CHTR) by 40.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 36,635 shares of the company’s stock after selling 24,701 shares during the quarter. Man Group plc’s holdings in Charter Communications were worth $15,099,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Charter Communications by 0.6% in the second quarter. Vanguard Group Inc. now owns 12,278,062 shares of the company’s stock worth $4,852,045,000 after purchasing an additional 78,800 shares during the last quarter. Invesco Ltd. lifted its stake in Charter Communications by 1.4% during the 2nd quarter. Invesco Ltd. now owns 4,243,402 shares of the company’s stock valued at $1,676,908,000 after acquiring an additional 58,473 shares in the last quarter. Longview Partners Guernsey LTD lifted its stake in Charter Communications by 13.3% during the 2nd quarter. Longview Partners Guernsey LTD now owns 3,238,400 shares of the company’s stock valued at $1,279,751,000 after acquiring an additional 381,226 shares in the last quarter. Egerton Capital UK LLP boosted its holdings in Charter Communications by 1.5% during the 2nd quarter. Egerton Capital UK LLP now owns 2,889,662 shares of the company’s stock worth $1,141,937,000 after acquiring an additional 42,802 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Charter Communications by 0.9% during the 2nd quarter. Northern Trust Corp now owns 2,000,210 shares of the company’s stock worth $790,444,000 after acquiring an additional 16,961 shares during the last quarter. 72.90% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on CHTR shares. Citigroup increased their target price on shares of Charter Communications from $455.00 to $483.00 and gave the company a “buy” rating in a report on Friday, October 4th. Argus raised their price target on shares of Charter Communications from $440.00 to $525.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Raymond James boosted their price target on shares of Charter Communications from $460.00 to $525.00 and gave the stock a “strong-buy” rating in a report on Monday, October 28th. Credit Suisse Group upped their price objective on shares of Charter Communications from $400.00 to $430.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Benchmark set a $422.00 price objective on shares of Charter Communications and gave the company a “hold” rating in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $455.52.
NASDAQ CHTR opened at $470.33 on Tuesday. The company has a market capitalization of $100.95 billion, a PE ratio of 90.10, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.28 and a current ratio of 0.28. Charter Communications Inc has a 52-week low of $272.91 and a 52-week high of $485.99. The company has a 50-day simple moving average of $462.77 and a 200 day simple moving average of $415.56.
Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, October 25th. The company reported $1.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.08. Charter Communications had a net margin of 2.76% and a return on equity of 2.91%. The firm had revenue of $11.45 billion for the quarter, compared to analysts’ expectations of $11.42 billion. During the same period in the previous year, the company earned $2.11 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts forecast that Charter Communications Inc will post 6.89 EPS for the current fiscal year.
In related news, Director David C. Merritt sold 1,200 shares of Charter Communications stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $474.47, for a total value of $569,364.00. Following the sale, the director now owns 9,276 shares of the company’s stock, valued at approximately $4,401,183.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jonathan Hargis sold 1,234 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $464.80, for a total value of $573,563.20. Following the completion of the transaction, the chief marketing officer now owns 12,895 shares in the company, valued at approximately $5,993,596. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,434 shares of company stock valued at $1,603,797. 0.84% of the stock is currently owned by company insiders.
Charter Communications Company Profile
Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.
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