General American Investors Co. Inc. reduced its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 25.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the company’s stock after selling 5,000 shares during the period. General American Investors Co. Inc.’s holdings in Charter Communications were worth $5,451,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Advisors Inc. grew its position in Charter Communications by 4.9% during the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock valued at $116,000 after acquiring an additional 16 shares during the last quarter. Parallel Advisors LLC grew its position in Charter Communications by 43.3% during the second quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock valued at $121,000 after acquiring an additional 93 shares during the last quarter. Huntington National Bank bought a new position in Charter Communications during the third quarter valued at approximately $128,000. Barrett Asset Management LLC grew its position in Charter Communications by 118.7% during the second quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock valued at $134,000 after acquiring an additional 216 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Charter Communications by 50.7% during the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock valued at $152,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.
In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $399.00, for a total value of $4,379,424.00. Following the completion of the sale, the executive vice president now directly owns 18,025 shares in the company, valued at approximately $7,191,975. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.
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CHTR has been the topic of a number of recent research reports. Telsey Advisory Group cut shares of Charter Communications from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $450.00 to $340.00 in a research report on Tuesday, September 5th. Barclays PLC reduced their price target on shares of Charter Communications from $354.00 to $283.00 and set an “equal weight” rating on the stock in a research report on Friday. Evercore ISI increased their price target on shares of Charter Communications from $360.00 to $438.00 and gave the company an “outperform” rating in a research report on Friday, September 15th. Royal Bank Of Canada increased their price target on shares of Charter Communications from $356.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Finally, Robert W. Baird reiterated a “hold” rating and set a $365.00 price target on shares of Charter Communications in a research report on Wednesday, October 4th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $379.18.
Shares of Charter Communications, Inc. (CHTR) traded up 1.57% during mid-day trading on Tuesday, reaching $329.08. The company had a trading volume of 2,209,291 shares. Charter Communications, Inc. has a 1-year low of $241.50 and a 1-year high of $408.83. The stock has a market capitalization of $84.86 billion, a price-to-earnings ratio of 94.27 and a beta of 1.10. The firm has a 50-day moving average price of $359.27 and a 200-day moving average price of $354.31.
Charter Communications (NASDAQ:CHTR) last issued its earnings results on Thursday, October 26th. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.77). Charter Communications had a return on equity of 0.91% and a net margin of 1.93%. The firm had revenue of $10.46 billion during the quarter, compared to analysts’ expectations of $10.49 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. Charter Communications’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts expect that Charter Communications, Inc. will post $0.60 earnings per share for the current year.
Charter Communications Profile
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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