Paloma Partners Management Co boosted its position in Charter Communications Inc (NASDAQ:CHTR) by 158.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,231 shares of the company’s stock after buying an additional 17,912 shares during the period. Paloma Partners Management Co’s holdings in Charter Communications were worth $11,551,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Charter Communications during the second quarter valued at about $34,000. Rational Advisors LLC increased its stake in Charter Communications by 230.3% in the 1st quarter. Rational Advisors LLC now owns 109 shares of the company’s stock valued at $38,000 after buying an additional 76 shares during the period. TCG Advisors LP acquired a new stake in Charter Communications in the 1st quarter valued at about $42,000. Ibex Wealth Advisors purchased a new position in Charter Communications in the 2nd quarter valued at about $49,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Charter Communications during the 2nd quarter worth about $66,000. 72.14% of the stock is owned by institutional investors and hedge funds.
CHTR has been the subject of several recent research reports. Raymond James increased their price objective on shares of Charter Communications from $435.00 to $460.00 and gave the company a “strong-buy” rating in a research report on Monday, July 29th. Benchmark set a $422.00 target price on Charter Communications and gave the stock a “hold” rating in a report on Monday, August 26th. Cowen lifted their target price on Charter Communications from $413.00 to $433.00 and gave the stock an “in-line” rating in a report on Monday, July 29th. Morgan Stanley lifted their price target on Charter Communications from $420.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, Bank of America reissued a “buy” rating and issued a $450.00 price target (up previously from $425.00) on shares of Charter Communications in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $418.85.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.79 by ($0.40). Charter Communications had a net margin of 3.04% and a return on equity of 3.08%. The business had revenue of $11.35 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the previous year, the business posted $1.15 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Charter Communications Inc will post 6.58 earnings per share for the current year.
In related news, Director Craig A. Jacobson sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $389.78, for a total value of $389,780.00. Following the completion of the sale, the director now directly owns 11,773 shares of the company’s stock, valued at approximately $4,588,879.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.84% of the stock is currently owned by insiders.
About Charter Communications
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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