Short Interest in Charter Communications, Inc. (NASDAQ:CHTR) Drops By 7.7%

Charter Communications, Inc. (NASDAQ:CHTR) was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 11,730,000 shares, a drop of 7.7% from the July 15th total of 12,710,000 shares. Approximately 12.1% of the company’s stock are sold short. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 8.8 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CHTR. Wells Fargo & Company boosted their target price on shares of Charter Communications from $260.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Rosenblatt Securities upped their price objective on Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Raymond James lowered Charter Communications from a “market perform” rating to an “underperform” rating in a research report on Monday, July 29th. Citigroup upped their price target on Charter Communications from $255.00 to $350.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, Pivotal Research raised their price objective on shares of Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $360.93.

Institutional Investors Weigh In On Charter Communications

Several large investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. raised its holdings in Charter Communications by 3.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 1,051 shares of the company’s stock worth $314,000 after purchasing an additional 32 shares in the last quarter. Creative Planning increased its position in Charter Communications by 32.0% during the 2nd quarter. Creative Planning now owns 10,820 shares of the company’s stock worth $3,235,000 after purchasing an additional 2,624 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Charter Communications during the 2nd quarter worth approximately $1,786,000. MBB Public Markets I LLC acquired a new stake in shares of Charter Communications in the 2nd quarter valued at approximately $2,123,000. Finally, DoubleLine ETF Adviser LP boosted its stake in shares of Charter Communications by 24.4% in the second quarter. DoubleLine ETF Adviser LP now owns 12,943 shares of the company’s stock valued at $3,869,000 after buying an additional 2,540 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $347.32 on Wednesday. Charter Communications has a one year low of $236.08 and a one year high of $458.30. The stock has a market capitalization of $50.02 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.70 and a beta of 1.04. The company has a 50-day simple moving average of $322.24 and a 200-day simple moving average of $294.43. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.40 and a current ratio of 0.39.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The firm had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. During the same quarter in the previous year, the firm posted $8.05 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts predict that Charter Communications will post 32.52 EPS for the current year.

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.