Charter Communications, Inc. $CHTR Stock Acquired by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group increased its Charter Communications stake by 28.9% in the third quarter, adding 53,916 shares to hold 240,283 shares valued at about $26.6 million.
• Analyst sentiment is mixed but leans negative: five analysts rate the stock Buy, nine Hold, and seven Sell, with an overall “Reduce” rating and a consensus price target of $200.18.
• Charter shares opened at $125.86, well below their 12-month high of $254.11; the company operates broadband, video, mobile, and communications services under the Spectrum brand.

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 28.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 240,283 shares of the company's stock after buying an additional 53,916 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.20% of Charter Communications worth $26,647,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Gabelli Funds LLC grew its holdings in shares of Charter Communications by 0.3% during the first quarter. Gabelli Funds LLC now owns 30,000 shares of the company's stock worth $6,476,000 after buying an additional 100 shares during the last quarter. NewEdge Advisors LLC lifted its position in Charter Communications by 6.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,762 shares of the company's stock worth $380,000 after acquiring an additional 104 shares during the period. EverSource Wealth Advisors LLC lifted its position in Charter Communications by 11.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,063 shares of the company's stock worth $229,000 after acquiring an additional 112 shares during the period. Glenmede Trust Co. NA grew its stake in shares of Charter Communications by 2.1% in the 1st quarter. Glenmede Trust Co. NA now owns 5,480 shares of the company's stock valued at $1,183,000 after purchasing an additional 113 shares during the last quarter. Finally, MCF Advisors LLC increased its holdings in shares of Charter Communications by 106.5% in the second quarter. MCF Advisors LLC now owns 223 shares of the company's stock valued at $32,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 81.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CHTR. Citigroup cut their price target on Charter Communications from $180.00 to $140.00 and set a "buy" rating for the company in a research note on Tuesday. Weiss Ratings lowered shares of Charter Communications from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, October 2nd. TD Cowen dropped their price objective on shares of Charter Communications from $413.00 to $380.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. Royal Bank Of Canada cut their price objective on shares of Charter Communications from $160.00 to $150.00 and set a "sector perform" rating for the company in a research report on Monday, July 27th. Finally, BNP Paribas Exane reduced their target price on shares of Charter Communications from $150.00 to $120.00 and set an "underperform" rating for the company in a research note on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $200.18.

Charter Communications Price Performance

Shares of CHTR opened at $125.86 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32. The stock's 50 day moving average is $121.54 and its two-hundred day moving average is $163.66. Charter Communications, Inc. has a twelve month low of $101.11 and a twelve month high of $254.11. The firm has a market capitalization of $15.01 billion, a PE ratio of 3.27, a P/E/G ratio of 0.25 and a beta of 0.73.

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.

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