Capital Research Global Investors Acquires New Position in Charter Communications, Inc. $CHTR

Key Points

• Capital Research Global Investors opened a new position in Charter Communications in Q3, buying 1,189,287 shares worth about $327.2 million and owning roughly 0.92% of the company at the period end.
• Analyst sentiment is mixed but averages to a "Hold" rating with an average target price of $335.11 (6 Buys, 10 Holds, 6 Sells), and several firms recently lowered price targets (e.g., New Street and Deutsche Bank).
• Charter reported Q4 EPS of $10.34, missing estimates by $0.06 with revenue down 2.3% year-over-year; the stock trades at a P/E of 6.05 with a market cap of $27.77 billion and a debt-to-equity ratio of 4.65.

Capital Research Global Investors acquired a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,189,287 shares of the company's stock, valued at approximately $327,179,000. Capital Research Global Investors owned about 0.92% of Charter Communications at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC lifted its holdings in Charter Communications by 3.8% in the second quarter. Advisory Services Network LLC now owns 1,028 shares of the company's stock worth $420,000 after purchasing an additional 38 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Charter Communications by 20.7% in the second quarter. Parkside Financial Bank & Trust now owns 227 shares of the company's stock valued at $93,000 after buying an additional 39 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Charter Communications by 1.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company's stock worth $988,000 after acquiring an additional 41 shares during the last quarter. Occudo Quantitative Strategies LP raised its holdings in Charter Communications by 1.4% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company's stock worth $1,255,000 after buying an additional 41 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in Charter Communications by 11.8% in the 2nd quarter. Penserra Capital Management LLC now owns 521 shares of the company's stock worth $212,000 after purchasing an additional 55 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on CHTR. New Street Research decreased their price objective on Charter Communications from $479.00 to $328.00 and set a "buy" rating for the company in a research report on Thursday, February 5th. KeyCorp reissued a "sector weight" rating on shares of Charter Communications in a research report on Monday, January 26th. Zacks Research raised shares of Charter Communications from a "strong sell" rating to a "hold" rating in a research report on Monday, February 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Charter Communications from $275.00 to $235.00 and set a "hold" rating on the stock in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Charter Communications in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $335.11.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $219.33 on Wednesday. The firm's 50-day moving average is $216.03 and its 200-day moving average is $229.37. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market cap of $27.77 billion, a price-to-earnings ratio of 6.05, a PEG ratio of 0.35 and a beta of 1.02. Charter Communications, Inc. has a 52-week low of $180.38 and a 52-week high of $437.06.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its earnings results on Friday, January 30th. The company reported $10.34 earnings per share for the quarter, missing the consensus estimate of $10.40 by ($0.06). Charter Communications had a net margin of 9.10% and a return on equity of 24.63%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.73 billion. During the same quarter last year, the firm posted $10.10 earnings per share. Charter Communications's revenue was down 2.3% on a year-over-year basis. Equities research analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current 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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