Donoghue Forlines LLC Makes New $2.76 Million Investment in Charter Communications, Inc. $CHTR

Donoghue Forlines LLC acquired a new stake in Charter Communications, Inc. (NASDAQ:CHTR) in the 2nd quarter, Holdings Channel reports. The firm acquired 6,760 shares of the company’s stock, valued at approximately $2,764,000.

Several other institutional investors and hedge funds have also bought and sold shares of CHTR. Envestnet Asset Management Inc. increased its stake in Charter Communications by 20.3% in the first quarter. Envestnet Asset Management Inc. now owns 33,471 shares of the company’s stock valued at $12,335,000 after purchasing an additional 5,642 shares in the last quarter. Allworth Financial LP increased its position in Charter Communications by 10.5% in the 1st quarter. Allworth Financial LP now owns 283 shares of the company’s stock valued at $104,000 after buying an additional 27 shares in the last quarter. CWM LLC raised its stake in Charter Communications by 7.4% during the 1st quarter. CWM LLC now owns 1,934 shares of the company’s stock worth $713,000 after buying an additional 133 shares during the period. Edgestream Partners L.P. bought a new position in Charter Communications in the first quarter worth approximately $2,838,000. Finally, Signaturefd LLC grew its stake in Charter Communications by 4.7% in the first quarter. Signaturefd LLC now owns 1,279 shares of the company’s stock valued at $471,000 after acquiring an additional 57 shares during the period. 81.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director David C. Merritt sold 1,200 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total transaction of $271,416.00. Following the completion of the sale, the director directly owned 10,146 shares of the company’s stock, valued at $2,294,822.28. This trade represents a 10.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CHTR shares. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $280.00 target price (down from $350.00) on shares of Charter Communications in a research report on Monday, November 3rd. Wells Fargo & Company lowered their price objective on shares of Charter Communications from $300.00 to $240.00 and set an “equal weight” rating on the stock in a report on Monday, November 3rd. Royal Bank Of Canada reduced their price objective on shares of Charter Communications from $325.00 to $265.00 and set a “sector perform” rating for the company in a report on Monday, November 3rd. KeyCorp reissued a “sector weight” rating on shares of Charter Communications in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group assumed coverage on shares of Charter Communications in a research report on Tuesday, September 2nd. They issued a “sell” rating and a $223.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, Charter Communications presently has an average rating of “Reduce” and a consensus price target of $329.56.

Charter Communications Stock Down 3.9%

Charter Communications stock opened at $204.80 on Friday. Charter Communications, Inc. has a fifty-two week low of $204.45 and a fifty-two week high of $437.06. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The firm’s 50-day simple moving average is $252.95 and its 200 day simple moving average is $320.92. The stock has a market cap of $26.50 billion, a PE ratio of 5.61, a price-to-earnings-growth ratio of 0.55 and a beta of 1.04.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, October 31st. The company reported $8.34 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.32). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The firm had revenue of $13.67 billion for the quarter, compared to the consensus estimate of $13.76 billion. During the same period in the prior year, the business earned $8.82 EPS. Charter Communications’s quarterly revenue was down .7% compared to the same quarter last year. Research analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current fiscal 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.