Short Interest in Charter Communications, Inc. (NASDAQ:CHTR) Drops By 34.8%

Charter Communications, Inc. (NASDAQ:CHTR) saw a large 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. Approximately 12.7% of the shares of the company are sold short. Based on an average daily volume of 3,131,170 shares, the short-interest ratio is presently 4.8 days.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CHTR shares. JPMorgan Chase & Co. decreased their price objective on shares of Charter Communications from $200.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a research note on Wednesday, June 24th. Citigroup reduced their target price on shares of Charter Communications from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. BNP Paribas Exane decreased their price target on shares of Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Finally, New Street Research decreased their price target on shares of Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $216.56.

Charter Communications Trading Down 0.3%

Shares of CHTR opened at $134.65 on Thursday. The business has a 50-day moving average of $143.90 and a 200 day moving average of $166.27. Charter Communications has a fifty-two week low of $111.55 and a fifty-two week high of $285.82. The firm has a market cap of $16.06 billion, a P/E ratio of 3.51, a price-to-earnings-growth ratio of 0.30 and a beta of 0.69. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36.

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

Institutional Trading of Charter Communications

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC boosted its holdings in Charter Communications by 10.8% in the 2nd 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 grew its stake in 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 buying an additional 212,668 shares in the last quarter. MCF Advisors LLC raised its holdings in Charter Communications by 106.5% during the 2nd quarter. MCF Advisors LLC now owns 223 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the period. Engineers Gate Manager LP lifted its position in shares of Charter Communications by 569.0% during the second 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 in the last quarter. Finally, Cidel Asset Management Inc. lifted its position in shares of Charter Communications by 36.3% during the second 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 in the last quarter. Institutional investors own 81.76% of the company’s stock.

Charter Communications Company Profile

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.