MAI Capital Management cut its holdings in shares of Charter Communications Inc (NASDAQ:CHTR) by 6.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 777 shares of the company’s stock after selling 57 shares during the period. MAI Capital Management’s holdings in Charter Communications were worth $320,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CHTR. Venturi Wealth Management LLC purchased a new position in Charter Communications in the third quarter valued at approximately $28,000. Massey Quick Simon & CO. LLC acquired a new stake in Charter Communications in the third quarter valued at $35,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Charter Communications in the second quarter valued at $34,000. Mechanics Bank Trust Department acquired a new stake in Charter Communications in the third quarter valued at $38,000. Finally, Ibex Wealth Advisors bought a new stake in shares of Charter Communications during the second quarter worth approximately $49,000. Institutional investors own 72.58% of the company’s stock.
Charter Communications stock traded up $3.69 during mid-day trading on Friday, reaching $472.13. The company’s stock had a trading volume of 8,262 shares, compared to its average volume of 1,072,217. The company has a market capitalization of $101.64 billion, a P/E ratio of 90.45, a PEG ratio of 1.84 and a beta of 1.23. The firm’s fifty day moving average price is $437.42 and its two-hundred day moving average price is $403.24. Charter Communications Inc has a 12-month low of $272.91 and a 12-month high of $479.18. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.28 and a current ratio of 0.28.
CHTR has been the subject of a number of recent research reports. Pivotal Research increased their price objective on Charter Communications from $500.00 to $600.00 in a report on Friday, October 25th. Barclays reaffirmed a “sell” rating and set a $338.00 price target on shares of Charter Communications in a research report on Tuesday, October 15th. Bank of America reaffirmed a “buy” rating and set a $450.00 price target (up previously from $425.00) on shares of Charter Communications in a research report on Tuesday, July 30th. SunTrust Banks increased their price objective on shares of Charter Communications to $495.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Co increased their price objective on shares of Charter Communications from $400.00 to $450.00 and gave the stock a “market perform” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $467.24.
In other news, Director Lance Conn sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $460.87, for a total value of $460,870.00. Following the transaction, the director now owns 7,552 shares in the company, valued at $3,480,490.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Jonathan Hargis sold 1,234 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $464.80, for a total transaction of $573,563.20. Following the transaction, the chief marketing officer now owns 12,895 shares in the company, valued at approximately $5,993,596. The disclosure for this sale can be found here. Insiders sold 3,434 shares of company stock worth $1,603,797 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.
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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