Charter Communications, Inc. $CHTR Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its Charter Communications stake by 524.1% in the third quarter, acquiring 60,085 additional shares and ending with a position worth about $7.94 million.
• Charter shares opened at $107.26, near their one-year low of $101.63 and well below the one-year high of $254.11. The company reported quarterly EPS of $10.66, ahead of analysts’ $9.98 estimate, while revenue declined 1.7% year over year.
• Analyst sentiment remains cautious: Charter has a consensus “Reduce” rating, with 10 Holds and seven Sells versus five Buys, and an average price target of $202.53.

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 524.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,549 shares of the company's stock after acquiring an additional 60,085 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd owned approximately 0.06% of Charter Communications worth $7,935,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Bank of America Corp DE raised its holdings in shares of Charter Communications by 28.4% during the first 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 last quarter. 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 during the period. Sei Investments Co. boosted its holdings in Charter Communications by 79.2% in 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 during the last quarter. Swiss National Bank boosted its holdings in Charter Communications by 1.5% in 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 last quarter. Finally, Assenagon Asset Management S.A. grew its position in Charter Communications by 443.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company's stock worth $46,565,000 after purchasing an additional 342,668 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Stock Performance

CHTR opened at $107.26 on Thursday. 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 firm has a fifty day moving average price of $130.26 and a 200 day moving average price of $147.05. Charter Communications, Inc. has a 1 year low of $101.63 and a 1 year high of $254.11. The stock has a market cap of $12.79 billion, a P/E ratio of 2.79, a P/E/G ratio of 0.23 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly 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. The firm had revenue of $13.53 billion for the quarter, compared to the consensus estimate of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The firm's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.18 earnings per share. Equities research analysts anticipate that Charter Communications, Inc. will post 42.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on CHTR. JPMorgan Chase & Co. reduced 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. The Goldman Sachs Group decreased their price objective on Charter Communications from $120.00 to $110.00 and set a "sell" rating for the company in a report on Friday, September 25th. Benchmark restated a "buy" rating on shares of Charter Communications in a research note on Wednesday, July 22nd. Zacks Research raised Charter Communications from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and set a $150.00 target price on shares of Charter Communications in a report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $202.53.

About Charter Communications

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.