Charter Communications, Inc. (NASDAQ:CHTR) Short Interest Update

Charter Communications, Inc. (NASDAQ:CHTR) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 14,985,512 shares, a decline of 34.8% from the August 15th total of 22,983,789 shares. Currently, 12.7% of the company’s shares are sold short. Based on an average daily volume of 3,131,170 shares, the days-to-cover ratio is currently 4.8 days.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CHTR shares. JPMorgan Chase & Co. cut their target price on Charter Communications from $200.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. The Goldman Sachs Group reduced their price objective on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a research note on Thursday, July 2nd. Royal Bank Of Canada decreased their target price on shares of Charter Communications from $160.00 to $150.00 and set a “sector perform” rating for the company in a research report on Monday, July 27th. Freedom Capital upgraded shares of Charter Communications to a “hold” rating in a research note on Friday, June 12th. Finally, BNP Paribas Exane cut their price target on shares of Charter Communications from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Charter Communications currently has a consensus rating of “Reduce” and a consensus price target of $216.56.

Charter Communications Stock Down 2.6%

NASDAQ CHTR traded down $3.47 during trading on Friday, hitting $129.90. The company’s stock had a trading volume of 808,154 shares, compared to its average volume of 2,736,119. Charter Communications has a fifty-two week low of $111.55 and a fifty-two week high of $285.82. The company has a market cap of $15.49 billion, a PE ratio of 3.38, a P/E/G ratio of 0.29 and a beta of 0.69. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36. The business’s 50 day simple moving average is $143.88 and its 200-day simple moving average is $165.56.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.98 by $0.68. The firm had revenue of $13.53 billion for the quarter, compared to the consensus estimate of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.18 earnings per share. On average, equities analysts anticipate that Charter Communications will post 42.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHTR. Sequoia Financial Advisors LLC lifted its stake in shares of Charter Communications by 10.8% during the second quarter. Sequoia Financial Advisors LLC now owns 4,745 shares of the company’s stock worth $675,000 after buying an additional 463 shares during the period. Tidal Investments LLC increased its position in shares of Charter Communications by 737.5% in the 2nd quarter. Tidal Investments LLC now owns 241,503 shares of the company’s stock valued at $34,344,000 after acquiring an additional 212,668 shares during the period. MCF Advisors LLC raised its stake in Charter Communications by 106.5% in the 2nd quarter. MCF Advisors LLC now owns 223 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the last quarter. Engineers Gate Manager LP raised its stake in Charter Communications by 569.0% in the 2nd quarter. Engineers Gate Manager LP now owns 13,407 shares of the company’s stock worth $1,907,000 after acquiring an additional 11,403 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its position in Charter Communications by 36.3% during the 2nd quarter. Cidel Asset Management Inc. now owns 5,076 shares of the company’s stock worth $722,000 after acquiring an additional 1,351 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.

About Charter Communications

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company’s consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.