Jupiter Asset Management Ltd. Takes Position in Charter Communications, Inc. $CHTR

Jupiter Asset Management Ltd. bought a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) in the second quarter, HoldingsChannel.com reports. The firm bought 8,630 shares of the company’s stock, valued at approximately $3,528,000.

Other institutional investors have also modified their holdings of the company. SouthState Corp purchased a new position in Charter Communications in the first quarter worth $25,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Charter Communications during the second quarter worth about $25,000. Salem Investment Counselors Inc. boosted its holdings in shares of Charter Communications by 2,033.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock valued at $26,000 after acquiring an additional 61 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Charter Communications during the 2nd quarter worth about $28,000. Finally, SBI Securities Co. Ltd. grew its holdings in Charter Communications by 93.2% during the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company’s stock worth $31,000 after acquiring an additional 41 shares during the period. 81.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CHTR. Wells Fargo & Company decreased their price objective on shares of Charter Communications from $300.00 to $240.00 and set an “equal weight” rating for the company in a research report on Monday, November 3rd. BNP Paribas Exane dropped their target price on shares of Charter Communications from $255.00 to $200.00 and set an “underperform” rating for the company in a report on Tuesday, November 4th. Royal Bank Of Canada lowered their price objective on Charter Communications from $325.00 to $265.00 and set a “sector perform” rating on the stock in a research note on Monday, November 3rd. Barclays cut their price target on shares of Charter Communications from $275.00 to $200.00 and set an “underweight” rating for the company in a report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Charter Communications from $325.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $329.56.

Insider Activity at Charter Communications

In related news, Director David C. Merritt sold 1,200 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 10,146 shares in the company, valued at $2,294,822.28. This trade represents a 10.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.83% of the company’s stock.

Charter Communications Price Performance

Charter Communications stock opened at $204.80 on Friday. The company has a fifty day simple moving average of $252.95 and a 200-day simple moving average of $320.92. The stock has a market cap of $26.50 billion, a P/E ratio of 5.61, a price-to-earnings-growth ratio of 0.55 and a beta of 1.04. Charter Communications, Inc. has a 12-month low of $204.45 and a 12-month high of $437.06. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, October 31st. The company reported $8.34 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). The business had revenue of $13.67 billion during the quarter, compared to analysts’ expectations of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.82 EPS. Equities analysts expect 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.