342,668 Charter Communications, Inc. $CHTR Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Charter Communications stake by 443.8%, acquiring 342,668 additional shares and bringing its total holdings to 419,881 shares valued at approximately $46.6 million.
• Institutional investors and hedge funds own 81.76% of Charter’s outstanding stock, while analysts maintain a mixed outlook: five Buy ratings, ten Holds and seven Sells, producing an average rating of “Reduce” and a $202.53 price target.
• Charter shares opened at $110.11, near their 52-week low of $101.63. The company exceeded quarterly EPS expectations, reporting $10.66 versus the $9.98 consensus, although revenue declined 1.7% year over year to $13.53 billion.

Assenagon Asset Management S.A. lifted its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 443.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 419,881 shares of the company's stock after acquiring an additional 342,668 shares during the period. Assenagon Asset Management S.A. owned 0.35% of Charter Communications worth $46,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pure Financial Advisors LLC raised its position in shares of Charter Communications by 4.1% during the fourth quarter. Pure Financial Advisors LLC now owns 1,116 shares of the company's stock valued at $233,000 after buying an additional 44 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Charter Communications by 0.3% during the 1st quarter. Gabelli Funds LLC now owns 30,000 shares of the company's stock worth $6,476,000 after acquiring an additional 100 shares during the period. V Square Quantitative Management LLC boosted its position in shares of Charter Communications by 3.9% during the 1st quarter. V Square Quantitative Management LLC now owns 2,768 shares of the company's stock valued at $598,000 after acquiring an additional 104 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Charter Communications by 6.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,762 shares of the company's stock valued at $380,000 after acquiring an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Charter Communications by 11.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,063 shares of the company's stock valued at $229,000 after acquiring an additional 112 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHTR has been the topic of several analyst reports. Arete Research raised shares of Charter Communications to a "strong sell" rating in a report on Thursday, October 1st. The Goldman Sachs Group cut their price objective on Charter Communications from $120.00 to $110.00 and set a "sell" rating for the company in a research report on Friday, September 25th. Morgan Stanley cut their price objective on 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. Benchmark reissued a "buy" rating on shares of Charter Communications in a research note on Wednesday, July 22nd. Finally, Citigroup decreased their target price on Charter Communications from $190.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, July 28th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $202.53.

Charter Communications Trading Up 0.1%

NASDAQ:CHTR opened at $110.11 on Friday. Charter Communications, Inc. has a 1-year low of $101.63 and a 1-year high of $256.60. The business's 50-day moving average price is $132.97 and its two-hundred day moving average price is $149.85. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32. The firm has a market capitalization of $13.13 billion, a price-to-earnings 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 earnings results on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.98 by $0.68. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%. The firm had revenue of $13.53 billion for the quarter, compared to analysts' expectations of $13.51 billion. During the same quarter last year, the business earned $9.18 earnings per share. The company's revenue was down 1.7% compared to the same quarter last year. On average, equities analysts expect that Charter Communications, Inc. will post 42.92 earnings per share for the current year.

About Charter Communications

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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