Jafra Capital Management LP bought a new stake in Charter Communications Inc (NASDAQ:CHTR) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,000 shares of the company’s stock, valued at approximately $3,519,000. Charter Communications accounts for about 1.2% of Jafra Capital Management LP’s investment portfolio, making the stock its 21st biggest position.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CHTR. Veritas Asset Management LLP boosted its position in shares of Charter Communications by 65.3% in the 2nd quarter. Veritas Asset Management LLP now owns 4,434,781 shares of the company’s stock valued at $1,300,322,000 after purchasing an additional 1,752,400 shares during the period. Farallon Capital Management LLC lifted its position in Charter Communications by 70.3% during the 1st quarter. Farallon Capital Management LLC now owns 789,581 shares of the company’s stock worth $245,733,000 after acquiring an additional 325,956 shares during the period. Summit Trail Advisors LLC lifted its position in Charter Communications by 19,345.8% during the 1st quarter. Summit Trail Advisors LLC now owns 292,659 shares of the company’s stock worth $293,000 after acquiring an additional 291,154 shares during the period. Brown Advisory Inc. lifted its position in Charter Communications by 25.5% during the 1st quarter. Brown Advisory Inc. now owns 966,921 shares of the company’s stock worth $300,925,000 after acquiring an additional 196,229 shares during the period. Finally, Triple Frond Partners LLC lifted its position in Charter Communications by 33.7% during the 2nd quarter. Triple Frond Partners LLC now owns 620,029 shares of the company’s stock worth $181,799,000 after acquiring an additional 156,244 shares during the period. 71.07% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Richard R. Dykhouse sold 2,101 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $296.52, for a total value of $622,988.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.83% of the stock is owned by company insiders.
CHTR has been the subject of a number of recent research reports. BidaskClub cut Charter Communications from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 21st. Goldman Sachs Group raised Charter Communications from a “neutral” rating to a “buy” rating in a research report on Thursday, June 28th. Zacks Investment Research cut Charter Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. ValuEngine cut Charter Communications from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Finally, Credit Suisse Group initiated coverage on Charter Communications in a research report on Tuesday, July 10th. They set a “neutral” rating and a $294.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $363.62.
Shares of CHTR traded down $8.64 during mid-day trading on Friday, hitting $316.04. The company’s stock had a trading volume of 1,585,791 shares, compared to its average volume of 1,606,236. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a market capitalization of $75.56 billion, a P/E ratio of 119.26, a P/E/G ratio of 1.94 and a beta of 1.20. Charter Communications Inc has a 1-year low of $250.10 and a 1-year high of $396.64.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Tuesday, July 31st. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.95 by $0.20. The business had revenue of $10.85 billion during the quarter, compared to analysts’ expectations of $10.83 billion. Charter Communications had a return on equity of 1.45% and a net margin of 23.59%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. Research analysts anticipate that Charter Communications Inc will post 4.43 EPS for the current year.
About Charter Communications
Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.
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