Baird Financial Group Inc. Purchases New Stake in Charter Communications, Inc. $CHTR

Key Points

• Baird Financial Group purchased 11,172 Charter Communications shares worth approximately $1.59 million in the second quarter. Institutional investors collectively own 81.76% of the company.
• Charter reported quarterly EPS of $10.66, exceeding estimates of $9.98, while revenue reached $13.53 billion. However, revenue declined 1.7% year over year, and the stock opened at $128.17, near the lower end of its 52-week range.
• Analyst sentiment remains cautious: Charter has an average “Reduce” rating, with 10 Holds and six Sells versus five Buys. Recent price-target cuts included Wells Fargo’s reduction to $101 and Barclays’ reduction to $115.

Baird Financial Group Inc. bought a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,172 shares of the company's stock, valued at approximately $1,589,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pure Financial Advisors LLC increased its stake 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 worth $233,000 after purchasing an additional 44 shares during the period. Optimize Financial Inc increased its position in Charter Communications by 1.4% during the 4th quarter. Optimize Financial Inc now owns 5,740 shares of the company's stock worth $1,198,000 after buying an additional 80 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Charter Communications by 29.3% during the fourth quarter. Global Retirement Partners LLC now owns 357 shares of the company's stock worth $75,000 after buying an additional 81 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of Charter Communications by 8.0% in the fourth quarter. Rothschild Investment LLC now owns 1,244 shares of the company's stock valued at $260,000 after acquiring an additional 92 shares during the period. Finally, Gabelli Funds LLC grew its stake in shares of Charter Communications by 0.3% in the first quarter. Gabelli Funds LLC now owns 30,000 shares of the company's stock valued at $6,476,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 81.76% of the company's stock.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $128.17 on Friday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. Charter Communications, Inc. has a fifty-two week low of $111.55 and a fifty-two week high of $285.82. The company has a 50 day simple moving average of $143.83 and a two-hundred day simple moving average of $165.29. The company has a market capitalization of $15.29 billion, a PE ratio of 3.33, a P/E/G ratio of 0.28 and a beta of 0.69.

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

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays lowered their target price on shares of Charter Communications from $130.00 to $115.00 and set an "underweight" rating on the stock in a report on Monday, July 27th. Morgan Stanley reiterated an "equal weight" rating and issued a $150.00 price target on shares of Charter Communications in a research note on Monday. Wells Fargo & Company reduced their price target on Charter Communications from $160.00 to $101.00 and set an "underweight" rating on the stock in a research report on Monday, July 27th. Zacks Research upgraded Charter Communications from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $150.00 price objective on shares of Charter Communications in a report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, Charter Communications currently has an average rating of "Reduce" and a consensus price target of $216.56.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company's consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.

Want to see what other hedge funds are holding CHTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charter Communications, Inc. (NASDAQ:CHTR - Free Report).

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.