SouthState Corp cut its stake in Charter Communications, Inc. (NASDAQ:CHTR – Free Report) by 54.5% in the second quarter, Holdings Channel.com reports. The firm owned 578 shares of the company’s stock after selling 691 shares during the quarter. SouthState Corp’s holdings in Charter Communications were worth $173,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC grew its holdings in Charter Communications by 5,500.0% in the 2nd quarter. CVA Family Office LLC now owns 112 shares of the company’s stock valued at $33,000 after buying an additional 110 shares in the last quarter. New Covenant Trust Company N.A. acquired a new stake in Charter Communications during the first quarter worth about $34,000. Riverview Trust Co acquired a new stake in Charter Communications during the first quarter worth about $40,000. Cullen Frost Bankers Inc. raised its stake in Charter Communications by 769.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 113 shares of the company’s stock worth $44,000 after purchasing an additional 100 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Charter Communications by 109.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 159 shares of the company’s stock valued at $48,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.
Wall Street Analysts Forecast Growth
CHTR has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Charter Communications from $300.00 to $385.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Rosenblatt Securities upped their price target on Charter Communications from $292.00 to $329.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Wolfe Research cut Charter Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 31st. Citigroup boosted their price objective on shares of Charter Communications from $255.00 to $350.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, Raymond James lowered shares of Charter Communications from a “market perform” rating to an “underperform” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $360.93.
Charter Communications Stock Performance
Shares of CHTR stock opened at $330.78 on Friday. The firm has a 50 day moving average of $337.41 and a two-hundred day moving average of $298.99. The stock has a market capitalization of $47.64 billion, a PE ratio of 10.70, a P/E/G ratio of 0.64 and a beta of 1.04. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 5.84. Charter Communications, Inc. has a 52 week low of $236.08 and a 52 week high of $458.30.
Charter Communications (NASDAQ:CHTR – Get Free Report) last released its earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The firm had revenue of $13.69 billion during the quarter, compared to analyst estimates of $13.59 billion. During the same period last year, the business posted $8.05 earnings per share. Charter Communications’s revenue was up .2% compared to the same quarter last year. On average, research analysts predict that Charter Communications, Inc. will post 32.52 EPS for the current fiscal year.
Charter Communications 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; Advanced WiFi services; Spectrum Security Shield; 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.
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