Tidal Investments LLC Raises Position in Charter Communications, Inc. $CHTR

Key Points

• Tidal Investments increased its Charter Communications position by 737.5% in the second quarter, buying 212,668 additional shares and bringing its holdings to 241,503 shares valued at approximately $34.3 million.
• Charter exceeded quarterly earnings expectations, reporting $10.66 in EPS versus the $9.98 consensus estimate, while revenue of $13.53 billion was nearly in line with forecasts but declined 1.7% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $226.88; the stock opened at $133.89, well below its 12-month high of $285.82.

Tidal Investments LLC lifted its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 737.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 241,503 shares of the company's stock after buying an additional 212,668 shares during the period. Tidal Investments LLC owned about 0.20% of Charter Communications worth $34,344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CHTR. Advisory Services Network LLC boosted its stake in Charter Communications by 3.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,028 shares of the company's stock valued at $420,000 after purchasing an additional 38 shares during the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of Charter Communications by 1.7% in the second quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company's stock worth $988,000 after purchasing an additional 41 shares during the last quarter. Occudo Quantitative Strategies LP lifted its holdings in shares of Charter Communications by 1.4% during the second quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company's stock valued at $1,255,000 after purchasing an additional 41 shares in the last quarter. Pure Financial Advisors LLC boosted its position in shares of Charter Communications by 4.1% during the fourth quarter. Pure Financial Advisors LLC now owns 1,116 shares of the company's stock valued at $233,000 after buying an additional 44 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its position in shares of Charter Communications by 3.6% during the third quarter. Integrated Wealth Concepts LLC now owns 1,426 shares of the company's stock valued at $392,000 after buying an additional 49 shares during the last quarter. Institutional investors own 81.76% of the company's stock.

Charter Communications Stock Performance

CHTR opened at $133.89 on Thursday. Charter Communications, Inc. has a 12-month low of $111.55 and a 12-month high of $285.82. The company has a market cap of $15.97 billion, a price-to-earnings ratio of 3.48, a PEG ratio of 0.31 and a beta of 0.69. 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 company's 50 day moving average is $143.41 and its 200 day moving average is $169.35.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, topping 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 analysts' expectations of $13.51 billion. During the same quarter last year, the company posted $9.18 EPS. The company's revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts predict that Charter Communications, Inc. will post 42.72 EPS for the current year.

Analyst Ratings Changes

CHTR has been the subject of a number of recent analyst reports. UBS Group decreased their target price on Charter Communications from $235.00 to $140.00 and set a "neutral" rating for the company in a research report on Monday, July 27th. TD Cowen dropped their price target on shares of Charter Communications from $413.00 to $380.00 and set a "buy" rating on the stock in a report on Monday, July 27th. Sanford C. Bernstein reissued a "market perform" rating and set a $150.00 price objective on shares of Charter Communications in a report on Monday, July 27th. Bank of America restated a "buy" rating on shares of Charter Communications in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Charter Communications in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Charter Communications has a consensus rating of "Hold" and a consensus price target of $226.88.

Charter Communications Profile

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.

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.