Pzena Investment Management LLC lessened its holdings in Charter Communications, Inc. (NASDAQ:CHTR – Free Report) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,013,220 shares of the company’s stock after selling 10,369 shares during the quarter. Charter Communications accounts for about 3.2% of Pzena Investment Management LLC’s holdings, making the stock its 6th biggest position. Pzena Investment Management LLC owned approximately 2.11% of Charter Communications worth $976,524,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Capital International Investors grew its holdings in Charter Communications by 53.6% in the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock valued at $3,068,661,000 after purchasing an additional 3,685,451 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Charter Communications by 172,425.2% during the second quarter. First Eagle Investment Management LLC now owns 348,501 shares of the company’s stock worth $104,188,000 after acquiring an additional 348,299 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Charter Communications by 12,597.3% during the third quarter. Assenagon Asset Management S.A. now owns 249,756 shares of the company’s stock worth $80,941,000 after buying an additional 247,789 shares during the period. Zimmer Partners LP purchased a new position in Charter Communications during the first quarter worth approximately $32,074,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Charter Communications during the 3rd quarter worth $244,720,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CHTR has been the topic of several research analyst reports. Barclays lifted their price objective on Charter Communications from $300.00 to $315.00 and gave the company an “underweight” rating in a research note on Monday, November 4th. Morgan Stanley lifted their price objective on shares of Charter Communications from $360.00 to $415.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Citigroup upgraded Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price target on the stock in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price on Charter Communications from $385.00 to $400.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Wolfe Research downgraded Charter Communications from a “peer perform” rating to an “underperform” rating and set a $300.00 price target for the company. in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Charter Communications currently has a consensus rating of “Hold” and a consensus price target of $379.06.
Charter Communications Trading Up 0.6 %
Shares of Charter Communications stock traded up $2.19 on Wednesday, hitting $387.03. 57,625 shares of the company’s stock traded hands, compared to its average volume of 1,383,469. 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 stock has a market capitalization of $55.04 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 0.62 and a beta of 1.03. The firm’s 50-day moving average price is $345.02 and its two-hundred day moving average price is $323.38. Charter Communications, Inc. has a one year low of $236.08 and a one year high of $415.27.
Charter Communications (NASDAQ:CHTR – Get Free Report) last released its quarterly earnings results on Friday, November 1st. The company reported $8.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.55 by $0.27. The firm had revenue of $13.80 billion for the quarter, compared to the consensus estimate of $13.66 billion. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $8.25 EPS. On average, research analysts expect that Charter Communications, Inc. will post 32.87 EPS for the current fiscal year.
Charter Communications 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.
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