Hanson & Doremus Investment Management decreased its holdings in shares of Charter Communications Inc (NASDAQ:CHTR) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 645 shares of the company’s stock after selling 39 shares during the period. Hanson & Doremus Investment Management’s holdings in Charter Communications were worth $266,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Cohen Klingenstein LLC acquired a new stake in shares of Charter Communications during the third quarter worth about $1,113,000. NEXT Financial Group Inc lifted its position in Charter Communications by 64.9% in the third quarter. NEXT Financial Group Inc now owns 338 shares of the company’s stock valued at $139,000 after purchasing an additional 133 shares during the period. Envestnet Asset Management Inc. lifted its position in Charter Communications by 32.2% in the third quarter. Envestnet Asset Management Inc. now owns 21,485 shares of the company’s stock valued at $8,854,000 after purchasing an additional 5,239 shares during the period. Palisades Hudson Asset Management L.P. acquired a new stake in Charter Communications in the third quarter valued at about $203,000. Finally, Asset Dedication LLC lifted its position in Charter Communications by 18.2% in the third quarter. Asset Dedication LLC now owns 677 shares of the company’s stock valued at $278,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 72.40% of the company’s stock.
In other Charter Communications news, Director Craig A. Jacobson sold 1,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $389.78, for a total value of $389,780.00. Following the completion of the transaction, the director now directly owns 11,773 shares of the company’s stock, valued at $4,588,879.94. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.84% of the company’s stock.
Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, July 26th. The company reported $1.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.79 by ($0.40). Charter Communications had a net margin of 3.04% and a return on equity of 3.08%. The company had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period last year, the business posted $1.15 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Charter Communications Inc will post 6.59 EPS for the current fiscal year.
CHTR has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Charter Communications from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays restated a “sell” rating and issued a $338.00 price objective on shares of Charter Communications in a research report on Tuesday, October 15th. Sanford C. Bernstein initiated coverage on shares of Charter Communications in a research report on Wednesday. They issued an “outperform” rating for the company. Credit Suisse Group raised their price objective on shares of Charter Communications from $370.00 to $400.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, TD Securities reduced their price objective on shares of Charter Communications from $460.00 to $450.00 and set a “hold” rating for the company in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $422.95.
Charter Communications Company Profile
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, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.
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