Short Interest in Charter Communications Inc (NASDAQ:CHTR) Drops By 18.1%

Charter Communications Inc (NASDAQ:CHTR) was the target of a significant decrease in short interest during the month of March. As of March 29th, there was short interest totalling 9,294,910 shares, a decrease of 18.1% from the March 15th total of 11,344,505 shares. Currently, 5.7% of the shares of the company are sold short. Based on an average trading volume of 1,595,261 shares, the short-interest ratio is currently 5.8 days.

Shares of NASDAQ:CHTR traded up $7.27 during trading hours on Friday, hitting $377.68. 917,135 shares of the company’s stock traded hands, compared to its average volume of 787,839. Charter Communications has a 52 week low of $259.48 and a 52 week high of $378.36. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.62. The firm has a market cap of $85.11 billion, a price-to-earnings ratio of 72.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.40.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.23). Charter Communications had a net margin of 2.98% and a return on equity of 2.94%. The business had revenue of $11.21 billion for the quarter, compared to the consensus estimate of $11.20 billion. During the same quarter last year, the business posted $0.70 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts forecast that Charter Communications will post 7.47 earnings per share for the current year.

A number of equities analysts recently issued reports on CHTR shares. Zacks Investment Research lowered shares of Charter Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Credit Suisse Group reiterated a “neutral” rating and issued a $345.00 target price (up previously from $294.00) on shares of Charter Communications in a research report on Friday, February 1st. TD Securities started coverage on shares of Charter Communications in a research report on Wednesday, January 16th. They issued a “buy” rating and a $385.00 target price for the company. Nomura started coverage on shares of Charter Communications in a research report on Wednesday, January 16th. They issued a “neutral” rating and a $330.00 target price for the company. Finally, BidaskClub lowered shares of Charter Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $362.31.

In other news, EVP Richard R. Dykhouse sold 2,019 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $348.83, for a total transaction of $704,287.77. Following the completion of the transaction, the executive vice president now owns 9,880 shares in the company, valued at $3,446,440.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Hargis sold 15,000 shares of the stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $339.51, for a total transaction of $5,092,650.00. Following the completion of the transaction, the executive vice president now owns 15,964 shares of the company’s stock, valued at approximately $5,419,937.64. The disclosure for this sale can be found here. Insiders have sold 57,233 shares of company stock valued at $19,544,909 in the last 90 days. Insiders own 0.84% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Asset Dedication LLC lifted its stake in Charter Communications by 5.5% during the first quarter. Asset Dedication LLC now owns 534 shares of the company’s stock valued at $183,000 after buying an additional 28 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Charter Communications by 8.6% during the first quarter. Lindbrook Capital LLC now owns 353 shares of the company’s stock valued at $122,000 after buying an additional 28 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Charter Communications by 0.6% during the fourth quarter. Nuveen Asset Management LLC now owns 4,927 shares of the company’s stock valued at $1,404,000 after buying an additional 31 shares in the last quarter. Huntington National Bank lifted its stake in Charter Communications by 31.1% during the first quarter. Huntington National Bank now owns 135 shares of the company’s stock valued at $47,000 after buying an additional 32 shares in the last quarter. Finally, First Manhattan Co. lifted its stake in Charter Communications by 0.5% during the first quarter. First Manhattan Co. now owns 7,562 shares of the company’s stock valued at $2,623,000 after buying an additional 34 shares in the last quarter. 74.62% of the stock is owned by institutional investors.

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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, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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