PNC Financial Services Group Inc. lowered its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 49.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,225 shares of the company’s stock after selling 43,066 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Charter Communications were worth $14,897,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of Charter Communications by 43.3% during the second quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock worth $121,000 after acquiring an additional 93 shares during the period. Cornerstone Advisors Inc. increased its position in shares of Charter Communications by 4.9% during the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock worth $116,000 after acquiring an additional 16 shares during the period. Barrett Asset Management LLC increased its position in shares of Charter Communications by 118.7% during the second quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock worth $134,000 after acquiring an additional 216 shares during the period. Bessemer Group Inc. increased its position in shares of Charter Communications by 50.7% during the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock worth $152,000 after acquiring an additional 151 shares during the period. Finally, Rational Advisors LLC purchased a new stake in shares of Charter Communications during the second quarter worth $168,000. 74.09% of the stock is currently owned by institutional investors and hedge funds.
Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. During the same period last year, the firm earned $0.99 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis.
A number of research firms have recently weighed in on CHTR. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Charter Communications in a research report on Wednesday, June 28th. Morgan Stanley upped their price objective on Charter Communications from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. HSBC Holdings plc reaffirmed a “hold” rating and set a $360.00 price objective (up previously from $300.00) on shares of Charter Communications in a research report on Tuesday, August 1st. Wells Fargo & Company reaffirmed a “market perform” rating and set a $372.00 price objective (up previously from $330.00) on shares of Charter Communications in a research report on Sunday, July 30th. Finally, Telsey Advisory Group raised Charter Communications from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $340.00 to $450.00 in a research report on Wednesday, August 9th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $379.19.
In other news, EVP Jonathan Hargis sold 10,976 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 18,025 shares of the company’s stock, valued at approximately $7,191,975. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by insiders.
Charter Communications Company 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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