81,722 Shares in Charter Communications, Inc. (CHTR) Purchased by Cowen Inc.
Cowen Inc. bought a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 81,722 shares of the company’s stock, valued at approximately $29,700,000. Charter Communications comprises 1.1% of Cowen Inc.’s holdings, making the stock its 18th largest holding.
Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in Charter Communications by 10.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 1,610 shares of the company’s stock valued at $542,000 after acquiring an additional 150 shares during the period. Bessemer Group Inc. increased its position in Charter Communications by 50.7% in the 2nd 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. Pictet Asset Management Ltd. increased its position in Charter Communications by 14.3% in the 2nd quarter. Pictet Asset Management Ltd. now owns 161,060 shares of the company’s stock valued at $55,655,000 after acquiring an additional 20,168 shares during the period. Barrett Asset Management LLC increased its position in Charter Communications by 118.7% in the 2nd 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. Finally, Stoneridge Investment Partners LLC acquired a new stake in Charter Communications in the 2nd quarter valued at approximately $8,899,000. 72.22% of the stock is currently owned by institutional investors.
Several analysts recently commented on the company. Telsey Advisory Group upgraded Charter Communications from a “market perform” rating to an “outperform” rating and raised their target price for the company from $340.00 to $450.00 in a research report on Wednesday, August 9th. UBS restated a “buy” rating and issued a $450.00 target price (up from $380.00) on shares of Charter Communications in a research report on Monday, August 14th. SunTrust Banks restated a “buy” rating and issued a $380.00 target price on shares of Charter Communications in a research report on Friday, October 27th. Pivotal Research restated a “buy” rating and issued a $420.00 target price (up from $405.00) on shares of Charter Communications in a research report on Friday, October 27th. Finally, Barclays cut Charter Communications from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $267.01 to $283.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $378.12.
Charter Communications, Inc. (CHTR) opened at $322.64 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $82,280.00, a price-to-earnings ratio of 207.45, a P/E/G ratio of 6.22 and a beta of 1.06. Charter Communications, Inc. has a 1-year low of $275.11 and a 1-year high of $408.83.
Charter Communications (NASDAQ:CHTR) last issued its earnings results on Thursday, October 26th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.77). The company had revenue of $10.46 billion during 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 business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. analysts anticipate that Charter Communications, Inc. will post 2.21 earnings per share for the current fiscal year.
In other Charter Communications news, CFO Christopher L. Winfrey bought 3,100 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was acquired at an average price of $323.61 per share, with a total value of $1,003,191.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $16,153,316.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.56% of the company’s stock.
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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