Investors Buy Shares of Charter Communications (CHTR) on Weakness

Traders bought shares of Charter Communications Inc (NASDAQ:CHTR) on weakness during trading hours on Wednesday. $177.93 million flowed into the stock on the tick-up and $62.82 million flowed out of the stock on the tick-down, for a money net flow of $115.11 million into the stock. Of all companies tracked, Charter Communications had the 5th highest net in-flow for the day. Charter Communications traded down ($1.21) for the day and closed at $319.83

A number of research analysts recently weighed in on the company. BidaskClub raised Charter Communications from a “hold” rating to a “buy” rating in a report on Wednesday. Goldman Sachs Group raised Charter Communications from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $315.00 to $361.00 in a report on Thursday, June 21st. ValuEngine raised Charter Communications from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Buckingham Research upped their price objective on Charter Communications from $397.00 to $418.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, Barclays set a $259.00 price objective on Charter Communications and gave the stock a “sell” rating in a report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $364.00.

The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.46. The firm has a market cap of $75.56 billion, a price-to-earnings ratio of 119.66, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Tuesday, July 31st. The company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.20. The company had revenue of $10.85 billion for the quarter, compared to analyst estimates of $10.83 billion. Charter Communications had a return on equity of 1.45% and a net margin of 23.59%. Charter Communications’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, research analysts anticipate that Charter Communications Inc will post 4.43 earnings per share for the current fiscal year.

In other news, EVP Richard R. Dykhouse sold 2,101 shares of the company’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $296.52, for a total value of $622,988.52. The sale was disclosed in a filing with the SEC, which is available through this link. 0.83% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in shares of Charter Communications by 9.0% in the third quarter. Nisa Investment Advisors LLC now owns 51,289 shares of the company’s stock valued at $16,714,000 after acquiring an additional 4,240 shares in the last quarter. RWC Asset Management LLP lifted its position in shares of Charter Communications by 12.3% in the third quarter. RWC Asset Management LLP now owns 142,286 shares of the company’s stock valued at $46,368,000 after acquiring an additional 15,605 shares in the last quarter. Andra AP fonden lifted its position in shares of Charter Communications by 5.9% in the third quarter. Andra AP fonden now owns 16,200 shares of the company’s stock valued at $5,279,000 after acquiring an additional 900 shares in the last quarter. Zweig DiMenna Associates LLC lifted its position in shares of Charter Communications by 51.0% in the third quarter. Zweig DiMenna Associates LLC now owns 29,250 shares of the company’s stock valued at $9,532,000 after acquiring an additional 9,879 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Charter Communications by 61.7% in the third quarter. Bank of Montreal Can now owns 125,390 shares of the company’s stock valued at $40,862,000 after acquiring an additional 47,834 shares in the last quarter. Institutional investors and hedge funds own 71.07% of the company’s stock.

About Charter Communications (NASDAQ:CHTR)

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, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.

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