AXQ Capital LP Takes Position in Charter Communications, Inc. $CHTR

Key Points

• AXQ Capital LP acquired 16,801 Charter Communications shares during the second quarter, valued at approximately $2.39 million. Institutional investors collectively own 81.76% of the company.
• Analyst sentiment remains mixed but leans toward “Hold,” with five Buy, nine Hold, and five Sell ratings. The average price target is $226.88, while several firms recently lowered their targets and issued cautious ratings.
• Charter exceeded quarterly earnings expectations, reporting $10.66 in EPS versus the $9.98 consensus and $13.53 billion in revenue. However, revenue declined 1.7% year over year, and the stock opened at $151.38, near the lower end of its 12-month range.

AXQ Capital LP acquired a new position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,801 shares of the company's stock, valued at approximately $2,389,000.

A number of other hedge funds have also recently made changes to their positions in CHTR. Advisory Services Network LLC grew its stake in shares of Charter Communications by 3.8% in the second quarter. Advisory Services Network LLC now owns 1,028 shares of the company's stock valued at $420,000 after buying an additional 38 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in shares of Charter Communications by 1.7% in the second quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company's stock valued at $988,000 after purchasing an additional 41 shares during the period. Occudo Quantitative Strategies LP grew its holdings in shares of Charter Communications by 1.4% in the second quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company's stock valued at $1,255,000 after purchasing an additional 41 shares in the last quarter. Pure Financial Advisors LLC grew its holdings in shares of Charter Communications by 4.1% in the fourth quarter. Pure Financial Advisors LLC now owns 1,116 shares of the company's stock valued at $233,000 after purchasing an additional 44 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its stake in Charter Communications by 3.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,426 shares of the company's stock worth $392,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 81.76% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CHTR shares. The Goldman Sachs Group cut their price objective on Charter Communications from $185.00 to $125.00 and set a "sell" rating on the stock in a research report on Thursday, July 2nd. TD Cowen lowered their target price on Charter Communications from $413.00 to $380.00 and set a "buy" rating for the company in a research note on Monday, July 27th. BNP Paribas Exane cut their price target on Charter Communications from $150.00 to $120.00 and set an "underperform" rating on the stock in a report on Tuesday, July 14th. Barclays reduced their price target on Charter Communications from $130.00 to $115.00 and set an "underweight" rating on the stock in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. decreased their price objective on Charter Communications from $200.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, July 29th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $226.88.

Charter Communications Stock Performance

Shares of CHTR stock opened at $151.38 on Friday. 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 fifty day moving average price of $142.97 and a 200 day moving average price of $171.91. The company has a market cap of $18.06 billion, a P/E ratio of 3.93, a PEG ratio of 0.34 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.

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

Charter Communications Profile

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.

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