Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 708.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,143 shares of the company’s stock after purchasing an additional 15,900 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Charter Communications were worth $6,111,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Cornerstone Advisors Inc. grew its stake in Charter Communications by 4.9% in 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 period. Parallel Advisors LLC grew its stake in Charter Communications by 43.3% in 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 period. Barrett Asset Management LLC grew its stake in Charter Communications by 118.7% in 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 period. Bessemer Group Inc. grew its stake in Charter Communications by 50.7% in 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 period. Finally, Rational Advisors LLC acquired a new stake in Charter Communications in the second quarter valued at approximately $168,000. Institutional investors and hedge funds own 74.15% of the company’s stock.
Charter Communications, Inc. (CHTR) opened at 381.01 on Tuesday. The stock has a market cap of $98.26 billion, a PE ratio of 109.14 and a beta of 1.10. Charter Communications, Inc. has a 52-week low of $241.50 and a 52-week high of $408.83. The firm has a 50-day moving average price of $387.51 and a 200 day moving average price of $345.85.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.29. Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. During the same period last year, the business earned $0.99 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts forecast that Charter Communications, Inc. will post $0.60 earnings per share for the current fiscal year.
In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $399.00, for a total transaction of $4,379,424.00. Following 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 SEC, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.
A number of equities research analysts have commented on the company. Citigroup Inc. raised their price objective on Charter Communications from $378.00 to $456.00 and gave the company a “buy” rating in a research note on Tuesday, August 22nd. UBS AG reissued a “buy” rating and issued a $450.00 price objective (up previously from $380.00) on shares of Charter Communications in a research note on Monday, August 14th. Telsey Advisory Group cut Charter Communications from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $450.00 to $340.00 in a research note on Tuesday, September 5th. BidaskClub raised Charter Communications from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $410.00 price objective (up previously from $390.00) on shares of Charter Communications in a research note on Monday, July 31st. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $375.73.
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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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