Charter Communications, Inc. $CHTR Shares Bought by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group increased its Charter Communications stake by 550.1% in the third quarter, acquiring 20,248 additional shares for a total holding of 23,929 shares valued at approximately $2.65 million. Institutional investors collectively own 81.76% of the company.
• Charter shares opened at $102.18, near their 52-week low of $101.11 and well below the $254.11 high. The company reported quarterly EPS of $10.66, exceeding estimates, while revenue declined 1.7% year over year to $13.53 billion.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce”, with five Buy, ten Hold and seven Sell ratings. The average price target is $202.53, although several firms recently lowered their targets.

Citizens Financial Group Inc. RI increased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 550.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,929 shares of the company's stock after acquiring an additional 20,248 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Charter Communications were worth $2,654,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC purchased a new stake in Charter Communications in the 1st quarter worth approximately $25,000. Trust Co. of Vermont bought a new stake in shares of Charter Communications in the 2nd quarter valued at approximately $28,000. Raiffeisen Bank International AG lifted its stake in Charter Communications by 259.7% in the second quarter. Raiffeisen Bank International AG now owns 223 shares of the company's stock valued at $33,000 after acquiring an additional 161 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Charter Communications by 106.5% during the 2nd quarter. MCF Advisors LLC now owns 223 shares of the company's stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in Charter Communications by 803.7% in the third quarter. Manchester Capital Management LLC now owns 488 shares of the company's stock worth $54,000 after purchasing an additional 434 shares in the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Stock Performance

Charter Communications stock opened at $102.18 on Tuesday. Charter Communications, Inc. has a 52-week low of $101.11 and a 52-week high of $254.11. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a fifty day moving average price of $128.50 and a two-hundred day moving average price of $167.76. The firm has a market capitalization of $12.19 billion, a P/E ratio of 2.65, a P/E/G ratio of 0.23 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced 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 net margin of 9.05% and a return on equity of 23.71%. The business had revenue of $13.53 billion during the quarter, compared to analysts' expectations of $13.51 billion. During the same quarter last year, the company posted $9.18 EPS. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. As a group, analysts anticipate that Charter Communications, Inc. will post 42.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. TD Cowen decreased their target price on Charter Communications from $413.00 to $380.00 and set a "buy" rating for the company in a research report on Monday, July 27th. Benchmark reaffirmed a "buy" rating on shares of Charter Communications in a research report on Wednesday, July 22nd. BNP Paribas Exane dropped their price target on Charter Communications from $150.00 to $120.00 and set an "underperform" rating on the stock in a research report on Tuesday, July 14th. Royal Bank Of Canada dropped their target price on shares of Charter Communications from $160.00 to $150.00 and set a "sector perform" rating on the stock in a research report on Monday, July 27th. Finally, UBS Group dropped their price objective on shares of Charter Communications from $235.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $202.53.

Charter Communications Profile

Charter Communications, Inc is a telecommunications and broadband services company that operates under the Spectrum brand. The company provides internet access, video entertainment, mobile communications and voice services to residential customers, as well as connectivity, data networking, cloud, security and other communications solutions to businesses and government organizations.

Charter operates one of the largest broadband networks in the United States, serving customers across dozens of states.

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.