Short Interest in Charter Communications, Inc. (NASDAQ:CHTR) Drops By 7.2%

Charter Communications, Inc. (NASDAQ:CHTR) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 11,460,000 shares, a drop of 7.2% from the November 15th total of 12,350,000 shares. Currently, 11.9% of the shares of the stock are sold short. Based on an average daily volume of 1,300,000 shares, the short-interest ratio is presently 8.8 days.

Charter Communications Price Performance

NASDAQ:CHTR opened at $371.03 on Wednesday. Charter Communications has a 52 week low of $236.08 and a 52 week high of $415.27. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 5.24. The company has a market capitalization of $52.76 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.60 and a beta of 1.08. The stock’s fifty day moving average is $368.38 and its two-hundred day moving average is $339.50.

Charter Communications (NASDAQ:CHTR) last posted its 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. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. The company had revenue of $13.80 billion for the quarter, compared to the consensus estimate of $13.66 billion. During the same quarter in the previous year, the business earned $8.25 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts expect that Charter Communications will post 32.87 EPS for the current year.

Institutional Investors Weigh In On Charter Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Savant Capital LLC raised its position in Charter Communications by 1.7% in the second quarter. Savant Capital LLC now owns 1,859 shares of the company’s stock valued at $556,000 after purchasing an additional 31 shares during the period. US Bancorp DE raised its holdings in shares of Charter Communications by 0.4% in the 3rd quarter. US Bancorp DE now owns 7,370 shares of the company’s stock valued at $2,388,000 after buying an additional 31 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of Charter Communications by 3.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 1,051 shares of the company’s stock valued at $314,000 after buying an additional 32 shares during the period. Grove Bank & Trust raised its holdings in shares of Charter Communications by 39.1% in the 3rd quarter. Grove Bank & Trust now owns 121 shares of the company’s stock valued at $39,000 after buying an additional 34 shares during the period. Finally, CVA Family Office LLC raised its holdings in shares of Charter Communications by 31.3% in the 3rd quarter. CVA Family Office LLC now owns 147 shares of the company’s stock valued at $48,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CHTR shares. KeyCorp raised Charter Communications from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective on the stock in a report on Thursday, December 12th. Benchmark lifted their price target on Charter Communications from $440.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays lifted their price target on Charter Communications from $300.00 to $315.00 and gave the stock an “underweight” rating in a research note on Monday, November 4th. BNP Paribas raised Charter Communications from an “underperform” rating to a “neutral” rating and set a $360.00 price target on the stock in a research note on Tuesday, November 26th. Finally, Morgan Stanley lifted their price target on Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $384.42.

About Charter Communications

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.