Charter Communications, Inc. $CHTR Position Lifted by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Charter Communications holdings by 793.4% in the third quarter, ending with 24,364 shares valued at approximately $2.7 million. Institutional investors collectively own 81.76% of the company.
• Analyst sentiment remains cautious: five analysts rate Charter a Buy, 10 rate it Hold and seven rate it Sell, resulting in a consensus “Reduce” rating and a $202.53 target price.
• Charter shares opened at $106.95, near their 52-week low of $101.63, despite the company exceeding quarterly earnings expectations with $10.66 in EPS and $13.53 billion in revenue; revenue declined 1.7% year over year.

NorthCrest Asset Manangement LLC raised its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 793.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,364 shares of the company's stock after acquiring an additional 21,637 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Charter Communications were worth $2,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Bank of America Corp DE raised its holdings in Charter Communications by 28.4% in the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company's stock worth $157,961,000 after purchasing an additional 161,888 shares during the period. State of Michigan Retirement System lifted its position in Charter Communications by 1,547.4% during the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company's stock valued at $93,170,000 after purchasing an additional 405,385 shares in the last quarter. Sei Investments Co. lifted its position in Charter Communications by 79.2% during the first quarter. Sei Investments Co. now owns 250,497 shares of the company's stock valued at $54,078,000 after purchasing an additional 110,684 shares in the last quarter. Swiss National Bank grew its holdings in Charter Communications by 1.5% during the first quarter. Swiss National Bank now owns 246,896 shares of the company's stock valued at $53,300,000 after purchasing an additional 3,560 shares during the period. Finally, Tidal Investments LLC grew its holdings in Charter Communications by 737.5% during the second quarter. Tidal Investments LLC now owns 241,503 shares of the company's stock valued at $34,344,000 after purchasing an additional 212,668 shares during the period. Institutional investors own 81.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CHTR. Citigroup reduced their price target on Charter Communications from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, July 28th. Benchmark reaffirmed a "buy" rating on shares of Charter Communications in a research report on Wednesday, July 22nd. 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 note on Friday, September 25th. Royal Bank Of Canada cut their price objective on Charter Communications from $160.00 to $150.00 and set a "sector perform" rating for the company in a research note on Monday, July 27th. Finally, UBS Group reduced their target price on shares of Charter Communications from $235.00 to $140.00 and set a "neutral" rating for the company in a report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $202.53.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $106.95 on Wednesday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a fifty day moving average price of $135.73 and a 200 day moving average price of $151.70. Charter Communications, Inc. has a fifty-two week low of $101.63 and a fifty-two week high of $268.77. The firm has a market cap of $12.76 billion, a price-to-earnings ratio of 2.66, a P/E/G ratio of 0.22 and a beta of 0.70.

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