Creative Planning boosted its position in Charter Communications, Inc. (NASDAQ:CHTR – Free Report) by 10.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,147 shares of the company’s stock after purchasing an additional 681 shares during the period. Creative Planning’s holdings in Charter Communications were worth $2,626,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Edge Capital Group LLC bought a new position in Charter Communications in the 1st quarter valued at approximately $135,000. CWM LLC lifted its holdings in shares of Charter Communications by 5.5% during the first quarter. CWM LLC now owns 2,048 shares of the company’s stock worth $732,000 after purchasing an additional 106 shares during the period. Jump Financial LLC bought a new stake in shares of Charter Communications in the first quarter worth $574,000. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Charter Communications by 1.7% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 23,321 shares of the company’s stock valued at $8,340,000 after purchasing an additional 384 shares during the period. Finally, Achmea Investment Management B.V. raised its position in Charter Communications by 38.5% during the 1st quarter. Achmea Investment Management B.V. now owns 3,525 shares of the company’s stock worth $1,260,000 after purchasing an additional 979 shares during the last quarter. 93.84% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
CHTR has been the subject of several recent research reports. Wells Fargo & Company raised Charter Communications from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, September 22nd. StockNews.com began coverage on shares of Charter Communications in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Bank of America increased their price objective on shares of Charter Communications from $425.00 to $450.00 and gave the stock a “neutral” rating in a research report on Monday, July 31st. Loop Capital boosted their target price on shares of Charter Communications from $390.00 to $405.00 and gave the company a “hold” rating in a report on Monday, July 31st. Finally, Barclays increased their price target on Charter Communications from $273.00 to $325.00 and gave the stock an “underweight” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Charter Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $504.78.
Charter Communications Stock Up 0.5 %
CHTR stock opened at $444.72 on Wednesday. The stock’s 50 day moving average is $430.99 and its 200-day moving average is $380.05. Charter Communications, Inc. has a twelve month low of $297.66 and a twelve month high of $457.66. The firm has a market capitalization of $66.56 billion, a PE ratio of 14.94, a P/E/G ratio of 0.71 and a beta of 1.10. 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 (NASDAQ:CHTR – Get Free Report) last announced its earnings results on Friday, July 28th. The company reported $8.05 EPS for the quarter, beating the consensus estimate of $7.66 by $0.39. Charter Communications had a net margin of 8.48% and a return on equity of 35.69%. The company had revenue of $13.66 billion during the quarter, compared to the consensus estimate of $13.84 billion. During the same quarter in the prior year, the company posted $8.80 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts expect that Charter Communications, Inc. will post 31.26 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director Craig A. Jacobson sold 2,104 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $418.16, for a total value of $879,808.64. Following the completion of the transaction, the director now directly owns 10,249 shares of the company’s stock, valued at $4,285,721.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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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