CIBC Asset Management Inc Acquires 1,693 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

CIBC Asset Management Inc grew its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,025 shares of the company's stock after acquiring an additional 1,693 shares during the period. CIBC Asset Management Inc's holdings in Charter Communications were worth $12,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CHTR. Reston Wealth Management LLC acquired a new position in Charter Communications in the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new position in shares of Charter Communications in the 3rd quarter valued at $28,000. CVA Family Office LLC increased its position in Charter Communications by 5,500.0% during the 2nd quarter. CVA Family Office LLC now owns 112 shares of the company's stock worth $33,000 after purchasing an additional 110 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in Charter Communications in the first quarter valued at about $34,000. Finally, Grove Bank & Trust lifted its holdings in shares of Charter Communications by 39.1% during the third quarter. Grove Bank & Trust now owns 121 shares of the company's stock worth $39,000 after purchasing an additional 34 shares during the period. 81.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CHTR has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Charter Communications from $385.00 to $400.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. TD Cowen raised their price objective on shares of Charter Communications from $488.00 to $525.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Barclays boosted their target price on shares of Charter Communications from $300.00 to $315.00 and gave the company an "underweight" rating in a research report on Monday, November 4th. Citigroup raised shares of Charter Communications from a "sell" rating to a "neutral" rating and set a $350.00 price target for the company in a research note on Wednesday, September 11th. Finally, Pivotal Research raised their target price on Charter Communications from $435.00 to $525.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $379.06.

Charter Communications Stock Performance

Shares of CHTR traded down $4.69 during mid-day trading on Friday, hitting $389.57. The stock had a trading volume of 1,027,888 shares, compared to its average volume of 1,615,040. The company has a debt-to-equity ratio of 5.24, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $55.40 billion, a P/E ratio of 12.20, a PEG ratio of 0.62 and a beta of 1.03. Charter Communications, Inc. has a 52 week low of $236.08 and a 52 week high of $421.16. The business has a fifty day moving average price of $342.59 and a 200-day moving average price of $321.24.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The company reported $8.82 EPS for the quarter, beating the consensus estimate of $8.55 by $0.27. The business had revenue of $13.80 billion for the quarter, compared to the consensus estimate of $13.66 billion. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The company's revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.25 earnings per share. On average, equities research analysts expect that Charter Communications, Inc. will post 32.87 EPS for the current year.

Charter Communications Company Profile

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.