Polar Asset Management Partners Inc. bought a new stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,700 shares of the company's stock, valued at approximately $6,708,000.
A number of other hedge funds have also recently bought and sold shares of CHTR. First Eagle Investment Management LLC raised its position in shares of Charter Communications by 172,425.2% during the second quarter. First Eagle Investment Management LLC now owns 348,501 shares of the company's stock worth $104,188,000 after purchasing an additional 348,299 shares during the period. Assenagon Asset Management S.A. raised its holdings in Charter Communications by 12,597.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 249,756 shares of the company's stock worth $80,941,000 after buying an additional 247,789 shares during the period. FMR LLC lifted its stake in Charter Communications by 27.7% during the third quarter. FMR LLC now owns 1,064,948 shares of the company's stock valued at $345,128,000 after buying an additional 230,817 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Charter Communications by 6.1% in the second quarter. Pzena Investment Management LLC now owns 3,023,589 shares of the company's stock worth $903,932,000 after buying an additional 175,130 shares during the period. Finally, Fernbridge Capital Management LP purchased a new position in shares of Charter Communications in the third quarter worth approximately $48,200,000. 81.76% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on CHTR. Pivotal Research increased their target price on Charter Communications from $435.00 to $525.00 and gave the company a "buy" rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on Charter Communications from $385.00 to $400.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Charter Communications from $340.00 to $365.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Barclays raised their price target on shares of Charter Communications from $300.00 to $315.00 and gave the stock an "underweight" rating in a report on Monday, November 4th. Finally, Bank of America upgraded shares of Charter Communications from a "neutral" rating to a "buy" rating and upped their price objective for the company from $385.00 to $450.00 in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Charter Communications has an average rating of "Hold" and an average price target of $378.00.
Get Our Latest Stock Report on CHTR
Charter Communications Stock Performance
Shares of CHTR stock traded up $2.02 during trading on Thursday, reaching $404.14. The company had a trading volume of 746,803 shares, compared to its average volume of 1,371,407. The company has a market capitalization of $57.47 billion, a PE ratio of 12.66, a PEG ratio of 0.63 and a beta of 1.08. 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's 50 day simple moving average is $359.69 and its two-hundred day simple moving average is $332.66. Charter Communications, Inc. has a one year low of $236.08 and a one year high of $415.27.
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 for the quarter, topping analysts' consensus estimates of $8.55 by $0.27. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The business had revenue of $13.80 billion during the quarter, compared to analysts' expectations of $13.66 billion. During the same period in the previous year, the company earned $8.25 earnings per share. Charter Communications's revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts forecast that Charter Communications, Inc. will post 32.87 earnings per share for the current year.
Charter Communications Company Profile
(
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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