Charter Communications, Inc. $CHTR Stock Purchased by Sterling Capital Management LLC

Key Points

• Sterling Capital Management significantly increased its Charter Communications position by 3,053.3% in the third quarter, holding 75,144 shares valued at approximately $8.3 million. Institutional investors collectively own 81.76% of the company.
• Charter shares fell 2.8% to $108.61, near the lower end of their 52-week range, while the company carries high leverage with a debt-to-equity ratio of 4.32.
• Analyst sentiment is mixed: five analysts rate the stock Buy, ten Hold and seven Sell, producing a MarketBeat consensus rating of “Reduce” despite a $202.53 average price target.

Sterling Capital Management LLC raised its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 3,053.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,144 shares of the company's stock after acquiring an additional 72,761 shares during the quarter. Sterling Capital Management LLC owned approximately 0.06% of Charter Communications worth $8,333,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. TD Waterhouse Canada Inc. raised its holdings in Charter Communications by 3,624.4% during the third quarter. TD Waterhouse Canada Inc. now owns 60,224 shares of the company's stock worth $6,679,000 after purchasing an additional 58,607 shares in the last quarter. Krilogy Financial LLC boosted its holdings in shares of Charter Communications by 278.6% in the 3rd quarter. Krilogy Financial LLC now owns 21,293 shares of the company's stock valued at $2,361,000 after buying an additional 15,669 shares in the last quarter. Polianta Ltd purchased a new stake in shares of Charter Communications in the 2nd quarter valued at about $1,777,000. California First Leasing Corp boosted its stake in Charter Communications by 100.1% during the 1st quarter. California First Leasing Corp now owns 24,772 shares of the company's stock worth $5,348,000 after purchasing an additional 12,390 shares during the period. Finally, Quantinno Capital Management LP grew its stake in shares of Charter Communications by 54.3% in the 1st quarter. Quantinno Capital Management LP now owns 45,828 shares of the company's stock valued at $9,893,000 after purchasing an additional 16,118 shares during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Trading Down 2.8%

Shares of NASDAQ CHTR traded down $3.16 during midday trading on Friday, reaching $108.61. 1,996,196 shares of the stock were exchanged, compared to its average volume of 2,985,923. The company has a market capitalization of $12.96 billion, a P/E ratio of 2.82, a P/E/G ratio of 0.24 and a beta of 0.70. Charter Communications, Inc. has a 52-week low of $101.63 and a 52-week high of $254.11. 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 has a 50 day moving average price of $128.45 and a 200-day moving average price of $146.03.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $13.51 billion. During the same quarter in the prior year, the firm posted $9.18 earnings per share. The company's quarterly revenue was down 1.7% compared to the same quarter last year. Equities research analysts expect that Charter Communications, Inc. will post 42.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

CHTR has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Charter Communications from $120.00 to $110.00 and set a "sell" rating for the company in a research note on Friday, September 25th. JPMorgan Chase & Co. reduced their target price on Charter Communications from $200.00 to $150.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 29th. Benchmark reiterated a "buy" rating on shares of Charter Communications in a report on Wednesday, July 22nd. Bank of America reissued a "buy" rating on shares of Charter Communications in a research report on Monday, July 27th. Finally, Citigroup cut their price target on Charter Communications from $190.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, July 28th. 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 company's stock. Based on data from MarketBeat, Charter Communications has an average rating of "Reduce" and a consensus 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.

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