Charter Communications, Inc. $CHTR Stock: State of Alaska Department of Revenue Raises Holdings

Key Points

• Alaska’s Department of Revenue increased its Charter Communications stake by 324.2% in the third quarter, bringing its holdings to 52,597 shares valued at approximately $5.83 million. Institutional investors and hedge funds collectively own 81.76% of the company.
• Charter shares traded at $110.11, near the lower end of their 52-week range of $101.63 to $256.60, while the stock’s moving averages remained higher at $132.97 over 50 days and $149.85 over 200 days.
• Analyst sentiment is mixed to negative: five analysts rate the stock a Buy, 10 a Hold and seven a Sell, resulting in an average “Reduce” rating despite an average price target of $202.53. The company’s latest quarterly earnings beat expectations, but revenue declined 1.7% year over year.

State of Alaska Department of Revenue boosted its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 324.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,597 shares of the company's stock after buying an additional 40,197 shares during the quarter. State of Alaska Department of Revenue's holdings in Charter Communications were worth $5,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CHTR. Krilogy Financial LLC increased 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 acquiring an additional 15,669 shares during the last quarter. Polianta Ltd acquired a new stake in shares of Charter Communications during the 2nd quarter worth about $1,777,000. California First Leasing Corp lifted its stake in Charter Communications by 100.1% during the first 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 last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Charter Communications by 30.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 52,497 shares of the company's stock worth $11,333,000 after purchasing an additional 12,249 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Charter Communications by 54.3% during the first quarter. Quantinno Capital Management LP now owns 45,828 shares of the company's stock worth $9,893,000 after purchasing an additional 16,118 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Stock Performance

Shares of Charter Communications stock traded up $0.12 on Friday, hitting $110.11. The stock had a trading volume of 3,162,791 shares, compared to its average volume of 3,328,023. Charter Communications, Inc. has a 52-week low of $101.63 and a 52-week high of $256.60. 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 market cap of $13.13 billion, a price-to-earnings ratio of 2.86, a P/E/G ratio of 0.23 and a beta of 0.70. The company's 50 day moving average price is $132.97 and its 200 day moving average price is $149.85.

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, beating analysts' consensus estimates of $9.98 by $0.68. The firm had revenue of $13.53 billion during the quarter, compared to analysts' expectations of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%. The business's revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $9.18 EPS. On average, research analysts anticipate that Charter Communications, Inc. will post 42.92 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BNP Paribas Exane lowered their price target on Charter Communications from $150.00 to $120.00 and set an "underperform" rating for the company in a report on Tuesday, July 14th. Sanford C. Bernstein restated a "market perform" rating and set a $150.00 price objective on shares of Charter Communications in a research report on Monday, July 27th. JPMorgan Chase & Co. reduced their price objective on shares of Charter Communications from $200.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Citigroup lowered their target price on shares of Charter Communications from $190.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, July 28th. Finally, Wells Fargo & Company dropped their target price on shares of Charter Communications from $160.00 to $101.00 and set an "underweight" rating on the stock in a research report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $202.53.

About Charter Communications

Charter Communications, Inc is a telecommunications and media company that provides broadband connectivity and related communications services in the United States. Its consumer-facing operations are marketed primarily under the Spectrum brand and include high-speed internet, video entertainment, mobile wireless service and voice communications.

Charter also serves businesses and public-sector organizations with internet access, data networking, telephone, video and managed communications solutions.

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