Arbor Wealth Management LLC Increases Stock Holdings in Charter Communications Inc (NASDAQ:CHTR)

Share on StockTwits

Arbor Wealth Management LLC boosted its position in shares of Charter Communications Inc (NASDAQ:CHTR) by 2.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,926 shares of the company’s stock after purchasing an additional 504 shares during the period. Charter Communications comprises about 5.1% of Arbor Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest position. Arbor Wealth Management LLC’s holdings in Charter Communications were worth $9,455,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Rational Advisors LLC lifted its holdings in Charter Communications by 230.3% during the 1st quarter. Rational Advisors LLC now owns 109 shares of the company’s stock valued at $38,000 after purchasing an additional 76 shares during the last quarter. TCG Advisors LP acquired a new stake in shares of Charter Communications during the 1st quarter worth approximately $42,000. Huntington National Bank grew its holdings 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 purchasing an additional 32 shares during the period. Massey Quick Simon & CO. LLC grew its holdings in Charter Communications by 60.2% during the first quarter. Massey Quick Simon & CO. LLC now owns 165 shares of the company’s stock valued at $57,000 after purchasing an additional 62 shares during the period. Finally, Whitener Capital Management Inc. grew its holdings in Charter Communications by 70.5% during the first quarter. Whitener Capital Management Inc. now owns 179 shares of the company’s stock valued at $62,000 after purchasing an additional 74 shares during the period. 72.55% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on CHTR shares. UBS Group lifted their price target on shares of Charter Communications from $383.00 to $421.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Cowen lifted their price target on shares of Charter Communications from $413.00 to $433.00 and gave the company an “in-line” rating in a research note on Monday, July 29th. Citigroup initiated coverage on shares of Charter Communications in a research note on Thursday, June 13th. They issued a “buy” rating and a $480.00 price target on the stock. BidaskClub lowered shares of Charter Communications from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Nomura boosted their price objective on shares of Charter Communications from $350.00 to $380.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $416.06.

NASDAQ:CHTR opened at $380.94 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.34 and a quick ratio of 0.34. The firm’s fifty day moving average price is $396.71 and its two-hundred day moving average price is $371.88. Charter Communications Inc has a one year low of $272.91 and a one year high of $417.13. The company has a market cap of $83.34 billion, a P/E ratio of 72.98, a P/E/G ratio of 1.29 and a beta of 1.23.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, July 26th. The company reported $1.39 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same quarter last year, the company posted $1.15 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts expect that Charter Communications Inc will post 6.91 earnings per share for the current year.

In related news, Director Craig A. Jacobson sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 owns 11,773 shares in the company, valued at approximately $4,588,879.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lance Conn sold 927 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $400.00, for a total transaction of $370,800.00. Following the completion of the transaction, the director now owns 9,552 shares of the company’s stock, valued at approximately $3,820,800. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Charter Communications 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.

Recommended Story: What is Considered a Good Return on Equity (ROE)?

Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

Receive News & Ratings for Charter Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charter Communications and related companies with MarketBeat.com's FREE daily email newsletter.