OLD National Bancorp IN Acquires New Holdings in Charter Communications, Inc. (CHTR)
OLD National Bancorp IN acquired a new position in Charter Communications, Inc. (NASDAQ:CHTR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,724 shares of the company’s stock, valued at approximately $627,000.
Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. increased its holdings in Charter Communications by 4.9% in the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock worth $116,000 after buying an additional 16 shares during the last quarter. Parallel Advisors LLC increased its holdings in Charter Communications by 43.3% in the second quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock worth $121,000 after buying an additional 93 shares during the last quarter. Huntington National Bank acquired a new position in Charter Communications in the third quarter worth approximately $128,000. Barrett Asset Management LLC increased its holdings in Charter Communications by 118.7% in the second quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock worth $134,000 after buying an additional 216 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in Charter Communications by 50.7% in the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock worth $152,000 after buying an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.
In related news, EVP Jonathan Hargis sold 10,976 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 can be accessed through this hyperlink. Also, CFO Christopher L. Winfrey bought 3,100 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were acquired at an average cost of $323.61 per share, for a total transaction of $1,003,191.00. Following the completion of the acquisition, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $16,153,316.76. The disclosure for this purchase can be found here. 0.56% of the stock is owned by insiders.
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A number of equities analysts recently commented on the company. SunTrust Banks, Inc. restated a “buy” rating and issued a $380.00 price objective on shares of Charter Communications in a report on Friday, October 27th. HSBC Holdings plc reaffirmed a “hold” rating and set a $360.00 target price (up previously from $300.00) on shares of Charter Communications in a research report on Tuesday, August 1st. UBS AG reaffirmed a “buy” rating and set a $450.00 target price (up previously from $380.00) on shares of Charter Communications in a research report on Monday, August 14th. Macquarie reaffirmed a “buy” rating on shares of Charter Communications in a research report on Sunday. Finally, Telsey Advisory Group raised Charter Communications from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $340.00 to $450.00 in a research report on Wednesday, August 9th. Twelve 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. Charter Communications has an average rating of “Buy” and a consensus target price of $379.18.
Charter Communications (NASDAQ:CHTR) last posted its quarterly 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). The company had revenue of $10.46 billion for the quarter, compared to analyst estimates of $10.49 billion. Charter Communications had a return on equity of 0.91% and a net margin of 1.93%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS.
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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