Charter Communications (NASDAQ:CHTR) Sets New 12-Month High at $634.06

Shares of Charter Communications Inc (NASDAQ:CHTR) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $634.06 and last traded at $633.08, with a volume of 2764 shares traded. The stock had previously closed at $622.55.

CHTR has been the subject of a number of analyst reports. Raymond James increased their target price on Charter Communications from $550.00 to $650.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. TD Securities increased their target price on Charter Communications from $560.00 to $600.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Royal Bank of Canada increased their target price on Charter Communications from $510.00 to $570.00 and gave the stock a “sector perform” rating in a research note on Monday, August 3rd. BidaskClub downgraded Charter Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, August 26th. Finally, UBS Group increased their target price on Charter Communications from $575.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Seven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Charter Communications presently has a consensus rating of “Buy” and an average price target of $619.17.

The firm’s fifty day moving average price is $601.57 and its 200 day moving average price is $525.49. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.13. The firm has a market capitalization of $127.56 billion, a PE ratio of 59.23, a PEG ratio of 1.05 and a beta of 1.06.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, July 31st. The company reported $3.63 EPS for the quarter, beating the consensus estimate of $2.53 by $1.10. Charter Communications had a net margin of 4.85% and a return on equity of 6.05%. The business had revenue of $11.70 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the company posted $1.39 EPS. Charter Communications’s revenue was up 3.1% on a year-over-year basis. As a group, research analysts expect that Charter Communications Inc will post 12.84 EPS for the current year.

In related news, CMO Jonathan Hargis sold 5,805 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $522.10, for a total value of $3,030,790.50. Also, COO John Bickham sold 9,584 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $604.62, for a total transaction of $5,794,678.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,411 shares of company stock worth $69,581,319. 1.18% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Two Sigma Advisers LP grew its stake in Charter Communications by 6.3% during the second quarter. Two Sigma Advisers LP now owns 759,325 shares of the company’s stock worth $387,286,000 after buying an additional 45,300 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Charter Communications by 30.1% during the second quarter. Schonfeld Strategic Advisors LLC now owns 16,597 shares of the company’s stock valued at $8,465,000 after purchasing an additional 3,842 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Charter Communications by 49.3% during the second quarter. Neuberger Berman Group LLC now owns 5,475 shares of the company’s stock valued at $2,747,000 after purchasing an additional 1,809 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Charter Communications during the second quarter valued at approximately $21,955,000. Finally, Nuveen Asset Management LLC grew its stake in shares of Charter Communications by 19.4% during the second quarter. Nuveen Asset Management LLC now owns 741,142 shares of the company’s stock valued at $378,013,000 after purchasing an additional 120,381 shares during the last quarter. Hedge funds and other institutional investors own 70.47% 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, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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