OZ Management LP reduced its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 5.3% during the first quarter, Holdings Channel reports. The firm owned 585,858 shares of the company’s stock after selling 32,891 shares during the period. Charter Communications comprises about 1.1% of OZ Management LP’s holdings, making the stock its 22nd largest position. OZ Management LP’s holdings in Charter Communications were worth $191,763,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in Charter Communications by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,357 shares of the company’s stock valued at $1,540,000 after buying an additional 21 shares during the period. Zurich Insurance Group Ltd FI increased its position in Charter Communications by 11.4% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 32,880 shares of the company’s stock valued at $9,467,000 after buying an additional 3,362 shares during the period. Light Street Capital Management LLC bought a new position in Charter Communications during the fourth quarter valued at approximately $23,034,000. Janus Capital Management LLC increased its position in Charter Communications by 37.5% in the fourth quarter. Janus Capital Management LLC now owns 353,227 shares of the company’s stock valued at $101,701,000 after buying an additional 96,423 shares during the period. Finally, Two Sigma Investments LP increased its position in Charter Communications by 513.0% in the fourth quarter. Two Sigma Investments LP now owns 140,404 shares of the company’s stock valued at $40,425,000 after buying an additional 117,498 shares during the period. 74.49% of the stock is currently owned by hedge funds and other institutional investors.
Charter Communications, Inc. (CHTR) opened at 332.65 on Tuesday. Charter Communications, Inc. has a 52-week low of $214.06 and a 52-week high of $355.00. The firm’s 50-day moving average is $332.03 and its 200-day moving average is $320.04. The company has a market cap of $89.00 billion, a PE ratio of 22.59 and a beta of 1.11.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Tuesday, May 2nd. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.99 by $0.42. Charter Communications had a return on equity of 2.13% and a net margin of 10.55%. The company had revenue of $10.16 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the prior year, the firm earned ($1.68) EPS. The firm’s revenue was up 301.7% on a year-over-year basis. On average, equities research analysts anticipate that Charter Communications, Inc. will post $0.60 EPS for the current year.
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CHTR has been the topic of several research analyst reports. Evercore ISI reissued an “overweight” rating on shares of Charter Communications in a report on Monday, February 27th. SunTrust Banks, Inc. initiated coverage on shares of Charter Communications in a report on Tuesday, April 18th. They issued a “buy” rating and a $380.00 target price on the stock. Macquarie reissued a “buy” rating and issued a $365.00 target price on shares of Charter Communications in a report on Wednesday, April 19th. Royal Bank Of Canada reissued a “buy” rating and issued a $356.00 target price on shares of Charter Communications in a report on Friday, April 21st. Finally, Telsey Advisory Group lowered their target price on shares of Charter Communications from $345.00 to $340.00 and set a “market perform” rating on the stock in a report on Wednesday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Charter Communications presently has a consensus rating of “Buy” and an average price target of $327.67.
In related news, Director Craig A. Jacobson sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $323.62, for a total value of $323,620.00. Following the sale, the director now directly owns 13,436 shares in the company, valued at approximately $4,348,158.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David C. Merritt acquired 1,200 shares of Charter Communications stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average price of $326.31 per share, for a total transaction of $391,572.00. Following the completion of the acquisition, the director now owns 8,174 shares in the company, valued at approximately $2,667,257.94. The disclosure for this purchase can be found here. 0.56% of the stock is 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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