Charter Communications, Inc. (NASDAQ:CHTR – Get Free Report) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 8,420,000 shares, a decrease of 5.4% from the November 15th total of 8,900,000 shares. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is currently 7.9 days. Currently, 8.3% of the shares of the stock are short sold.
Insiders Place Their Bets
In other news, Chairman Thomas Rutledge sold 83,970 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $410.82, for a total value of $34,496,555.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.32% of the company’s stock.
Hedge Funds Weigh In On Charter Communications
Large investors have recently made changes to their positions in the business. Fund Management at Engine No. 1 LLC increased its position in shares of Charter Communications by 5.9% during the second quarter. Fund Management at Engine No. 1 LLC now owns 1,353 shares of the company’s stock worth $497,000 after purchasing an additional 75 shares in the last quarter. Raymond James & Associates increased its position in shares of Charter Communications by 16.0% during the second quarter. Raymond James & Associates now owns 14,114 shares of the company’s stock worth $5,185,000 after purchasing an additional 1,949 shares in the last quarter. First Republic Investment Management Inc. increased its position in shares of Charter Communications by 2.8% during the first quarter. First Republic Investment Management Inc. now owns 5,994 shares of the company’s stock worth $2,144,000 after purchasing an additional 165 shares in the last quarter. Penn Capital Management Company LLC acquired a new position in shares of Charter Communications during the first quarter worth $200,000. Finally, Symmetry Partners LLC increased its position in shares of Charter Communications by 22.4% during the second quarter. Symmetry Partners LLC now owns 857 shares of the company’s stock worth $315,000 after purchasing an additional 157 shares in the last quarter. 93.84% of the stock is owned by institutional investors and hedge funds.
Charter Communications Stock Performance
Shares of NASDAQ:CHTR opened at $379.93 on Monday. The company has a market capitalization of $56.20 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 0.61 and a beta of 1.10. Charter Communications has a 52 week low of $302.21 and a 52 week high of $458.30. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 6.50. The firm has a 50 day moving average of $408.98 and a 200 day moving average of $401.75.
Charter Communications (NASDAQ:CHTR – Get Free Report) last issued its quarterly earnings data on Friday, October 27th. The company reported $8.25 EPS for the quarter, topping analysts’ consensus estimates of $7.73 by $0.52. The company had revenue of $13.58 billion during the quarter, compared to the consensus estimate of $13.64 billion. Charter Communications had a net margin of 8.60% and a return on equity of 34.63%. Charter Communications’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.38 earnings per share. On average, sell-side analysts predict that Charter Communications will post 32.04 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of Charter Communications from $500.00 to $475.00 and set an “equal weight” rating on the stock in a report on Monday, October 30th. StockNews.com assumed coverage on shares of Charter Communications in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Rosenblatt Securities upped their price target on shares of Charter Communications from $477.00 to $482.00 and gave the company a “buy” rating in a research note on Tuesday, September 12th. Sanford C. Bernstein assumed coverage on shares of Charter Communications in a research note on Thursday, October 5th. They set a “market perform” rating and a $463.00 price target on the stock. Finally, The Goldman Sachs Group decreased their price target on shares of Charter Communications from $510.00 to $450.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $485.32.
Charter Communications Company 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.