16,519 Shares in Charter Communications, Inc. $CHTR Bought by Wedmont Private Capital

Key Points

• Wedmont Private Capital acquired 16,519 shares of Charter Communications during the second quarter, valued at approximately $2.16 million. Institutional investors collectively own 81.76% of the company.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $226.88, despite several firms recently lowering their targets and issuing underperform or underweight ratings.
• Charter reported quarterly EPS of $10.66, beating estimates of $9.98, while revenue of $13.53 billion slightly exceeded forecasts but declined 1.7% year over year.

Wedmont Private Capital acquired a new stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,519 shares of the company's stock, valued at approximately $2,160,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CHTR. Capital Research Global Investors boosted its stake in shares of Charter Communications by 304.9% during the fourth quarter. Capital Research Global Investors now owns 4,815,422 shares of the company's stock valued at $1,005,222,000 after purchasing an additional 3,626,135 shares during the period. Dodge & Cox raised its holdings in Charter Communications by 23.7% during the 4th quarter. Dodge & Cox now owns 14,609,220 shares of the company's stock valued at $3,049,675,000 after buying an additional 2,801,671 shares during the last quarter. Norges Bank purchased a new stake in Charter Communications during the 4th quarter valued at $555,383,000. Voyager Global Management LP grew its holdings in Charter Communications by 1,380.0% in the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company's stock worth $386,188,000 after acquiring an additional 1,725,000 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Charter Communications by 119.6% in the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company's stock valued at $619,885,000 after acquiring an additional 1,617,148 shares during the period. Hedge funds and other institutional investors own 81.76% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CHTR shares. Royal Bank Of Canada cut their price objective on Charter Communications from $160.00 to $150.00 and set a "sector perform" rating on the stock in a research report on Monday, July 27th. Weiss Ratings restated a "sell (d+)" rating on shares of Charter Communications in a research note on Wednesday, June 24th. Freedom Capital raised shares of Charter Communications to a "hold" rating in a report on Friday, June 12th. Wells Fargo & Company lowered their price target on Charter Communications from $160.00 to $101.00 and set an "underweight" rating on the stock in a report on Monday, July 27th. Finally, BNP Paribas Exane dropped their target price on shares of Charter Communications from $150.00 to $120.00 and set an "underperform" rating on the stock in a report on Tuesday, July 14th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $226.88.

Charter Communications Price Performance

NASDAQ:CHTR opened at $151.99 on Tuesday. The company has a market capitalization of $18.13 billion, a P/E ratio of 3.95, a P/E/G ratio of 0.32 and a beta of 0.69. Charter Communications, Inc. has a 12 month low of $111.55 and a 12 month high of $285.82. The business's 50-day moving average is $143.46 and its 200 day moving average is $170.70. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The company reported $10.66 EPS for the quarter, topping the consensus estimate of $9.98 by $0.68. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The company had revenue of $13.53 billion during the quarter, compared to analyst estimates of $13.51 billion. The firm's revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $9.18 earnings per share. On average, equities research analysts forecast that Charter Communications, Inc. will post 42.72 earnings per share for the current fiscal year.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter's service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company's consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.