21,690 Charter Communications, Inc. $CHTR Shares Purchased by Vontobel Holding Ltd.

Key Points

• Vontobel Holding increased its Charter Communications stake by 21.7% in the third quarter, buying 21,690 shares to bring its total holdings to 121,854 shares valued at approximately $13.5 million.
• Institutional ownership remains high at 81.76%, with several major investors—including Assenagon Asset Management, Tidal Investments and Bank of America—also expanding their positions.
• Analyst sentiment is cautious: Charter has an average “Reduce” rating and a $202.53 price target, while shares traded near $110.11—well below their 52-week high of $256.60. The company nonetheless beat quarterly EPS and revenue estimates.

Vontobel Holding Ltd. grew its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 21.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,854 shares of the company's stock after acquiring an additional 21,690 shares during the period. Vontobel Holding Ltd. owned about 0.10% of Charter Communications worth $13,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Michigan Retirement System increased its stake in Charter Communications by 1,547.4% in the 1st quarter. State of Michigan Retirement System now owns 431,582 shares of the company's stock worth $93,170,000 after acquiring an additional 405,385 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Charter Communications by 443.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company's stock worth $46,565,000 after acquiring an additional 342,668 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Charter Communications by 737.5% during the 2nd quarter. Tidal Investments LLC now owns 241,503 shares of the company's stock valued at $34,344,000 after acquiring an additional 212,668 shares during the last quarter. Nykredit A S bought a new position in shares of Charter Communications during the 2nd quarter valued at approximately $23,610,000. Finally, Bank of America Corp DE boosted its position in shares of Charter Communications by 28.4% during the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company's stock valued at $157,961,000 after acquiring an additional 161,888 shares during the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CHTR. Wells Fargo & Company cut their target price on shares of Charter Communications from $160.00 to $101.00 and set an "underweight" rating for the company in a report on Monday, July 27th. Citigroup decreased their price target on shares of Charter Communications from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday, July 28th. Morgan Stanley lowered their price objective on shares of Charter Communications from $150.00 to $140.00 and set an "equal weight" rating for the company in a research report on Friday, September 25th. JPMorgan Chase & Co. lowered their price objective on shares of Charter Communications from $200.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Finally, Zacks Research raised shares of Charter Communications from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, Charter Communications presently has an average rating of "Reduce" and an average price target of $202.53.

Charter Communications Trading Up 0.1%

Shares of NASDAQ CHTR opened at $110.11 on Friday. The business's 50 day moving average is $132.97 and its two-hundred day moving average is $149.85. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36. Charter Communications, Inc. has a 1-year low of $101.63 and a 1-year high of $256.60. The stock has a market capitalization of $13.13 billion, a P/E ratio of 2.86, a PEG ratio of 0.23 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.98 by $0.68. The business had revenue of $13.53 billion for the quarter, compared to the consensus estimate of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%. The company's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $9.18 earnings per share. As a group, research analysts expect that Charter Communications, Inc. will post 42.92 EPS for the current year.

Charter Communications Profile

Charter Communications, Inc is a telecommunications and media company that provides broadband connectivity and related communications services in the United States. Its consumer-facing operations are marketed primarily under the Spectrum brand and include high-speed internet, video entertainment, mobile wireless service and voice communications.

Charter also serves businesses and public-sector organizations with internet access, data networking, telephone, video and managed communications solutions.

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