Charter Communications Inc (CHTR) Sees Significant Increase in Short Interest

Charter Communications Inc (NASDAQ:CHTR) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 11,843,652 shares, a growth of 25.1% from the July 31st total of 9,465,290 shares. Currently, 6.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,469,527 shares, the short-interest ratio is currently 8.1 days.

CHTR opened at $304.34 on Tuesday. The stock has a market cap of $69.71 billion, a P/E ratio of 113.90, a price-to-earnings-growth ratio of 3.28 and a beta of 1.25. Charter Communications has a twelve month low of $250.10 and a twelve month high of $404.72. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.46.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Tuesday, July 31st. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.20. The firm had revenue of $10.85 billion for the quarter, compared to analyst estimates of $10.83 billion. Charter Communications had a net margin of 23.59% and a return on equity of 1.45%. Charter Communications’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. equities analysts predict that Charter Communications will post 4.37 EPS for the current year.

Several analysts have recently issued reports on the stock. BidaskClub upgraded shares of Charter Communications from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 26th. ValuEngine upgraded shares of Charter Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Macquarie reiterated a “buy” rating and issued a $320.00 target price on shares of Charter Communications in a research report on Monday, June 25th. Goldman Sachs Group upgraded shares of Charter Communications from a “neutral” rating to a “buy” rating and lifted their target price for the company from $315.00 to $361.00 in a research report on Thursday, June 21st. Finally, Zacks Investment Research lowered shares of Charter Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Four analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $367.00.

In other Charter Communications news, EVP Richard R. Dykhouse sold 2,101 shares of Charter Communications stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $296.52, for a total value of $622,988.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CHTR. Assetmark Inc. boosted its position in Charter Communications by 166.7% during the first quarter. Assetmark Inc. now owns 360 shares of the company’s stock worth $112,000 after acquiring an additional 225 shares during the last quarter. Silvant Capital Management LLC acquired a new position in Charter Communications during the first quarter worth about $117,000. Kaizen Advisory LLC boosted its position in Charter Communications by 122.7% during the second quarter. Kaizen Advisory LLC now owns 432 shares of the company’s stock worth $127,000 after acquiring an additional 238 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in Charter Communications during the second quarter worth about $129,000. Finally, Synovus Financial Corp purchased a new position in Charter Communications during the first quarter worth about $140,000. Hedge funds and other institutional investors own 71.12% of the company’s stock.

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, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.

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