Charter Communications, Inc. (NASDAQ:CHTR) Sees Significant Drop in Short Interest

Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 11,460,000 shares, a decline of 7.2% from the November 15th total of 12,350,000 shares. Currently, 11.9% of the shares of the company are sold short. Based on an average daily trading volume, of 1,300,000 shares, the days-to-cover ratio is currently 8.8 days.

Analysts Set New Price Targets

Several brokerages have commented on CHTR. Royal Bank of Canada raised their target price on Charter Communications from $345.00 to $390.00 and gave the stock a "sector perform" rating in a research note on Monday, November 4th. Wolfe Research cut shares of Charter Communications from a "peer perform" rating to an "underperform" rating and set a $300.00 price objective for the company. in a research note on Monday, September 30th. Benchmark raised their price target on shares of Charter Communications from $440.00 to $450.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. BNP Paribas raised shares of Charter Communications from an "underperform" rating to a "neutral" rating and set a $360.00 price target on the stock in a report on Tuesday, November 26th. Finally, Pivotal Research lifted their price objective on Charter Communications from $435.00 to $525.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $384.42.

Charter Communications Trading Down 0.2 %

Charter Communications stock traded down $0.80 during trading hours on Monday, reaching $378.98. The company had a trading volume of 994,598 shares, compared to its average volume of 1,365,915. The firm has a market cap of $53.89 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 0.60 and a beta of 1.08. Charter Communications has a 12-month low of $236.08 and a 12-month high of $415.27. The company has a debt-to-equity ratio of 5.24, a current ratio of 0.34 and a quick ratio of 0.34. The company has a 50-day moving average price of $367.51 and a 200 day moving average price of $338.91.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The company reported $8.82 EPS for the quarter, beating analysts' consensus estimates of $8.55 by $0.27. The company had revenue of $13.80 billion during the quarter, compared to analyst estimates of $13.66 billion. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The firm's revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $8.25 EPS. Equities analysts forecast that Charter Communications will post 32.87 earnings per share for the current year.

Hedge Funds Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently modified their holdings of CHTR. Brookstone Capital Management purchased a new stake in Charter Communications in the 2nd quarter worth approximately $230,000. Raymond James & Associates lifted its stake in Charter Communications by 2.3% in the second quarter. Raymond James & Associates now owns 201,021 shares of the company's stock worth $60,097,000 after acquiring an additional 4,606 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in Charter Communications in the second quarter valued at $215,000. First Horizon Advisors Inc. increased its position in Charter Communications by 905.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 714 shares of the company's stock valued at $213,000 after purchasing an additional 643 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in Charter Communications in the 2nd quarter worth $879,000. 81.76% of the stock is owned by institutional investors.

Charter Communications Company Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.