Pictet Asset Management Ltd. raised its position in Charter Communications, Inc. (NASDAQ:CHTR) by 14.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,060 shares of the company’s stock after buying an additional 20,168 shares during the period. Pictet Asset Management Ltd. owned approximately 0.06% of Charter Communications worth $55,655,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised its stake in Charter Communications by 4.9% in the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock worth $116,000 after buying an additional 16 shares during the period. Burt Wealth Advisors acquired a new stake in Charter Communications during the first quarter worth approximately $115,000. Bessemer Group Inc. raised its stake in Charter Communications by 50.7% in the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock worth $152,000 after buying an additional 151 shares during the period. CAPROCK Group Inc. acquired a new stake in Charter Communications during the second quarter worth approximately $200,000. Finally, Alpha Cubed Investments LLC acquired a new stake in Charter Communications during the second quarter worth approximately $202,000. Institutional investors and hedge funds own 77.79% of the company’s stock.
Charter Communications, Inc. (NASDAQ CHTR) traded down 0.10% on Friday, hitting $392.97. The stock had a trading volume of 1,304,255 shares. Charter Communications, Inc. has a 1-year low of $241.50 and a 1-year high of $408.83. The company’s 50 day moving average is $364.56 and its 200-day moving average is $338.53. The firm has a market capitalization of $101.34 billion, a price-to-earnings ratio of 112.57 and a beta of 1.09.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.81 by $0.29. Charter Communications had a return on equity of 1.15% and a net margin of 2.29%. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. During the same period in the prior year, the firm earned $0.99 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts forecast that Charter Communications, Inc. will post $0.60 EPS for the current year.
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A number of equities research analysts recently commented on the company. HSBC Holdings plc restated a “hold” rating and set a $360.00 price target (up from $300.00) on shares of Charter Communications in a research report on Tuesday, August 1st. UBS AG reiterated a “buy” rating and issued a $450.00 price objective (up from $380.00) on shares of Charter Communications in a research report on Monday, August 14th. Telsey Advisory Group upgraded Charter Communications from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $340.00 to $450.00 in a research report on Wednesday, August 9th. BidaskClub upgraded Charter Communications from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Finally, Barclays PLC set a $354.00 price objective on Charter Communications and gave the company an “equal weight” rating in a research report on Wednesday, August 2nd. Eleven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $369.96.
In related news, EVP Jonathan Hargis sold 10,976 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $399.00, for a total value of $4,379,424.00. Following the sale, the executive vice president now owns 18,025 shares of the company’s stock, valued at $7,191,975. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.
About Charter Communications
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
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