Integrated Wealth Concepts LLC Raises Position in Charter Communications, Inc. $CHTR

Key Points

• Integrated Wealth Concepts LLC increased its Charter Communications position by 1,179.2% in the second quarter, ending with 27,029 shares valued at approximately $3.84 million. Institutional investors collectively own 81.76% of the company.
• Charter reported quarterly EPS of $10.66, exceeding the $9.98 consensus estimate, while revenue of $13.53 billion was broadly in line with expectations but declined 1.7% year over year.
• CHTR shares opened at $145.77, and analysts’ consensus rating remains “Hold”, with a consensus price target of $226.88 amid mixed Buy, Hold, and Sell ratings.

Integrated Wealth Concepts LLC lifted its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 1,179.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,029 shares of the company's stock after buying an additional 24,916 shares during the period. Integrated Wealth Concepts LLC's holdings in Charter Communications were worth $3,844,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CHTR. AQR Capital Management LLC boosted its stake in Charter Communications by 129.1% during the 1st quarter. AQR Capital Management LLC now owns 11,875 shares of the company's stock valued at $4,356,000 after purchasing an additional 6,691 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Charter Communications by 48.1% in the first quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company's stock worth $493,000 after purchasing an additional 435 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Charter Communications by 141.0% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock valued at $35,000 after purchasing an additional 55 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Charter Communications by 451.1% during the first quarter. Acadian Asset Management LLC now owns 733 shares of the company's stock valued at $270,000 after purchasing an additional 600 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its position in shares of Charter Communications by 4.0% during the second quarter. Cresset Asset Management LLC now owns 1,503 shares of the company's stock valued at $614,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company's stock.

Charter Communications Stock Up 3.7%

Charter Communications stock opened at $145.77 on Friday. Charter Communications, Inc. has a one year low of $111.55 and a one year high of $285.82. The stock has a fifty day moving average of $143.65 and a 200 day moving average of $168.56. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $17.39 billion, a PE ratio of 3.79, a price-to-earnings-growth ratio of 0.31 and a beta of 0.69.

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, topping the consensus estimate of $9.98 by $0.68. The business had revenue of $13.53 billion for 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 for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $9.18 earnings per share. As a group, sell-side analysts predict that Charter Communications, Inc. will post 42.72 EPS for the current year.

Analysts Set New Price Targets

CHTR has been the subject of several research analyst reports. Sanford C. Bernstein reiterated a "market perform" rating and issued a $150.00 price objective on shares of Charter Communications in a report on Monday, July 27th. Weiss Ratings restated a "sell (d+)" rating on shares of Charter Communications in a research note on Wednesday, June 24th. BNP Paribas Exane dropped their price target on shares of Charter Communications from $150.00 to $120.00 and set an "underperform" rating on the stock in a report on Tuesday, July 14th. Bank of America reiterated a "buy" rating on shares of Charter Communications in a research note on Monday, July 27th. Finally, Freedom Capital raised shares of Charter Communications to a "hold" rating in a report on Friday, June 12th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Charter Communications presently has a consensus rating of "Hold" and a consensus price target of $226.88.

About Charter Communications

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company's consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.

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