The Manufacturers Life Insurance Company cut its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 17.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 589,081 shares of the company's stock after selling 123,587 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.41% of Charter Communications worth $190,909,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC grew its holdings in Charter Communications by 27.0% during the 1st quarter. Tidal Investments LLC now owns 12,279 shares of the company's stock worth $3,572,000 after acquiring an additional 2,613 shares during the last quarter. Plato Investment Management Ltd raised its position in Charter Communications by 373.5% in the 1st quarter. Plato Investment Management Ltd now owns 1,037 shares of the company's stock worth $301,000 after purchasing an additional 818 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in Charter Communications during the 1st quarter worth $34,000. Swedbank AB bought a new position in Charter Communications in the 1st quarter valued at $11,147,000. Finally, Cetera Investment Advisers raised its position in shares of Charter Communications by 432.3% during the first quarter. Cetera Investment Advisers now owns 7,399 shares of the company's stock worth $2,150,000 after acquiring an additional 6,009 shares during the last quarter. 81.76% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have issued reports on CHTR shares. Bank of America upgraded shares of Charter Communications from a "neutral" rating to a "buy" rating and upped their target price for the company from $385.00 to $450.00 in a research report on Monday, November 4th. Barclays increased their price objective on shares of Charter Communications from $300.00 to $315.00 and gave the company an "underweight" rating in a report on Monday, November 4th. Citigroup upgraded shares of Charter Communications from a "sell" rating to a "neutral" rating and set a $350.00 target price for the company in a research report on Wednesday, September 11th. Pivotal Research boosted their target price on Charter Communications from $435.00 to $525.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, Morgan Stanley lifted their price target on shares of Charter Communications from $360.00 to $415.00 and gave the stock an "equal weight" rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $378.00.
View Our Latest Analysis on Charter Communications
Charter Communications Stock Performance
CHTR traded down $0.48 during trading hours on Wednesday, reaching $389.81. The company's stock had a trading volume of 870,241 shares, compared to its average volume of 1,379,152. The company has a debt-to-equity ratio of 5.24, a quick ratio of 0.34 and a current ratio of 0.34. The company's 50-day moving average is $350.95 and its 200-day moving average is $327.93. Charter Communications, Inc. has a 52 week low of $236.08 and a 52 week high of $415.27. The firm has a market cap of $55.43 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.61 and a beta of 1.03.
Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $8.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.55 by $0.27. The company had revenue of $13.80 billion during the quarter, compared to analysts' expectations of $13.66 billion. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. The business's revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.25 earnings per share. On average, equities analysts forecast that Charter Communications, Inc. will post 32.87 EPS for the current year.
About Charter Communications
(
Free Report)
Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.
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