Rafferty Asset Management LLC Lowers Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

Rafferty Asset Management LLC lessened its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 5.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,456 shares of the company’s stock after selling 300 shares during the period. Rafferty Asset Management LLC’s holdings in Charter Communications were worth $3,936,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CHTR. Price T Rowe Associates Inc. MD lifted its position in Charter Communications by 38.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,966,645 shares of the company’s stock valued at $1,213,459,000 after acquiring an additional 542,862 shares during the last quarter. Boston Partners purchased a new stake in Charter Communications during the first quarter valued at approximately $272,808,000. SG Americas Securities LLC lifted its position in Charter Communications by 103.8% during the first quarter. SG Americas Securities LLC now owns 10,716 shares of the company’s stock valued at $6,612,000 after acquiring an additional 295,258 shares during the last quarter. Veritas Asset Management LLP lifted its position in Charter Communications by 6.4% during the first quarter. Veritas Asset Management LLP now owns 2,576,310 shares of the company’s stock valued at $1,589,635,000 after acquiring an additional 154,065 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Charter Communications by 4,812.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 157,200 shares of the company’s stock valued at $96,996,000 after acquiring an additional 154,000 shares during the last quarter. 69.96% of the stock is owned by hedge funds and other institutional investors.

CHTR stock opened at $761.86 on Wednesday. The firm has a market cap of $140.05 billion, a PE ratio of 39.37, a P/E/G ratio of 1.03 and a beta of 1.01. The company has a debt-to-equity ratio of 3.61, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s fifty day moving average is $764.69 and its 200 day moving average is $699.27. Charter Communications, Inc. has a one year low of $572.46 and a one year high of $825.62.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Thursday, July 29th. The company reported $5.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.81 by $0.48. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.62 billion. Charter Communications had a net margin of 7.78% and a return on equity of 13.08%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $3.63 earnings per share. Research analysts predict that Charter Communications, Inc. will post 21.12 earnings per share for the current fiscal year.

A number of research firms recently commented on CHTR. Pivotal Research increased their target price on shares of Charter Communications from $820.00 to $1,000.00 and gave the company a “buy” rating in a research report on Tuesday, August 24th. JPMorgan Chase & Co. raised their price target on shares of Charter Communications from $750.00 to $855.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. TD Securities cut shares of Charter Communications from a “buy” rating to a “hold” rating and raised their price target for the stock from $840.00 to $870.00 in a report on Friday, September 3rd. They noted that the move was a valuation call. Truist raised their price target on shares of Charter Communications from $750.00 to $830.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. Finally, Truist Securities raised their price target on shares of Charter Communications from $750.00 to $830.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Charter Communications currently has a consensus rating of “Buy” and a consensus target price of $808.57.

In other news, COO John Bickham sold 14,376 shares of Charter Communications stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of $685.13, for a total value of $9,849,428.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Jonathan Hargis sold 7,254 shares of Charter Communications stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $764.94, for a total transaction of $5,548,874.76. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Charter Communications Company Profile

Charter Communications, Inc engages in the provision of broadband communications services. Its services include Spectrum TV, Spectrum Internet, and Spectrum Voice. The firm offers business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul.

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Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

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