Charter Communications, Inc. $CHTR Stock Acquired by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management increased its Charter Communications stake by 336.4% in the third quarter, ending with 21,096 shares valued at approximately $2.34 million.
• Institutional ownership remains high at 81.76%, with several major investors—including Assenagon, Robeco, Bank of America and Michigan’s retirement system—also increasing their positions.
• Charter shares opened at $105.39, near their one-year low of $101.11, while analysts’ consensus rating was “Reduce”; the average price target was $202.53 despite multiple recent downgrades and sell ratings.

Apollon Wealth Management LLC raised its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 336.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 21,096 shares of the company's stock after purchasing an additional 16,262 shares during the quarter. Apollon Wealth Management LLC's holdings in Charter Communications were worth $2,340,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Bank of America Corp DE increased its position in shares of Charter Communications by 28.4% in the first quarter. Bank of America Corp DE now owns 731,708 shares of the company's stock valued at $157,961,000 after acquiring an additional 161,888 shares during the period. State of Michigan Retirement System lifted its holdings in Charter Communications by 1,547.4% in the 1st quarter. State of Michigan Retirement System now owns 431,582 shares of the company's stock worth $93,170,000 after buying an additional 405,385 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Charter Communications by 443.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company's stock worth $46,565,000 after buying an additional 342,668 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Charter Communications by 562.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 328,457 shares of the company's stock worth $36,426,000 after buying an additional 278,898 shares during the period. Finally, Sei Investments Co. grew its position in shares of Charter Communications by 79.2% in the 1st quarter. Sei Investments Co. now owns 250,497 shares of the company's stock worth $54,078,000 after buying an additional 110,684 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company's stock.

Charter Communications Stock Performance

Shares of CHTR opened at $105.39 on Thursday. The company has a 50-day simple moving average of $125.82 and a two-hundred day simple moving average of $166.19. 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 market capitalization of $12.57 billion, a PE ratio of 2.74, a price-to-earnings-growth ratio of 0.23 and a beta of 0.70. Charter Communications, Inc. has a one year low of $101.11 and a one year high of $254.11.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CHTR shares. Weiss Ratings cut Charter Communications from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, October 2nd. Wolfe Research downgraded Charter Communications from a "peer perform" rating to an "underperform" rating and set a $118.00 target price for the company. in a report on Monday, September 14th. The Goldman Sachs Group dropped their price target on Charter Communications from $120.00 to $110.00 and set a "sell" rating for the company in a research note on Friday, September 25th. Bank of America reiterated a "buy" rating on shares of Charter Communications in a report on Monday, July 27th. Finally, Arete Research raised shares of Charter Communications to a "strong sell" rating in a research report on Thursday, October 1st. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target 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.

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