Compass Wealth Management LLC Acquires New Stake in Charter Communications, Inc. $CHTR

Key Points

• Compass Wealth Management acquired 23,880 shares of Charter Communications during the third quarter, valued at approximately $2.65 million. Institutional investors and hedge funds collectively own 81.76% of the company.
• Analyst sentiment remains cautious: Charter has an average “Reduce” rating, with 10 Holds and 7 Sells versus 5 Buys. Several brokerages recently lowered their price targets, including Wells Fargo to $101 and Barclays to $115.
• Charter shares opened at $111.77, near their 52-week low of $101.63 and well below the 52-week high of $254.11. The company nevertheless exceeded quarterly earnings expectations, reporting $10.66 in EPS versus the $9.98 consensus estimate.

Compass Wealth Management LLC bought a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,880 shares of the company's stock, valued at approximately $2,648,000.

A number of other institutional investors have also recently added to or reduced their stakes in CHTR. Cassaday & Co Wealth Management LLC acquired a new position in shares of Charter Communications during the 1st quarter valued at $25,000. Trust Co. of Vermont bought a new stake in shares of Charter Communications in the 2nd quarter worth $28,000. MCF Advisors LLC raised its stake in shares of Charter Communications by 106.5% in the 2nd quarter. MCF Advisors LLC now owns 223 shares of the company's stock worth $32,000 after buying an additional 115 shares in the last quarter. Raiffeisen Bank International AG raised its stake in shares of Charter Communications by 259.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 223 shares of the company's stock worth $33,000 after buying an additional 161 shares in the last quarter. Finally, Clark Wealth Partners lifted its holdings in shares of Charter Communications by 12,775.0% in the third quarter. Clark Wealth Partners now owns 515 shares of the company's stock valued at $57,000 after buying an additional 511 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on CHTR. Wells Fargo & Company decreased their target price on Charter Communications from $160.00 to $101.00 and set an "underweight" rating for the company in a research note on Monday, July 27th. Barclays dropped their price target on shares of Charter Communications from $130.00 to $115.00 and set an "underweight" rating on the stock in a research report on Monday, July 27th. Bank of America reiterated a "buy" rating on shares of Charter Communications in a research report on Monday, July 27th. Royal Bank Of Canada cut their price target on shares of Charter Communications from $160.00 to $150.00 and set a "sector perform" rating for the company in a report on Monday, July 27th. Finally, Wolfe Research restated an "underperform" rating and set a $118.00 price objective on shares of Charter Communications in a research report on Monday, September 14th. Five 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. Based on data from MarketBeat, Charter Communications currently has an average rating of "Reduce" and an average target price of $202.53.

Charter Communications Trading Up 4.2%

NASDAQ:CHTR opened at $111.77 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. Charter Communications, Inc. has a 1-year low of $101.63 and a 1-year high of $254.11. The firm has a market capitalization of $13.33 billion, a price-to-earnings ratio of 2.79, a price-to-earnings-growth ratio of 0.23 and a beta of 0.70. The stock has a fifty day simple moving average of $129.37 and a 200 day simple moving average of $146.29.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.98 by $0.68. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%. The firm had revenue of $13.53 billion for the quarter, compared to the consensus estimate of $13.51 billion. During the same quarter in the previous year, the company earned $9.18 EPS. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. Sell-side analysts forecast that Charter Communications, Inc. will post 42.92 earnings per share for the current year.

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.

Want to see what other hedge funds are holding CHTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charter Communications, Inc. (NASDAQ:CHTR - Free Report).

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.