Edgestream Partners L.P. purchased a new stake in Charter Communications, Inc. (NASDAQ:CHTR – Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 26,595 shares of the company’s stock, valued at approximately $5,741,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in Charter Communications by 129.1% during the first quarter. AQR Capital Management LLC now owns 11,875 shares of the company’s stock worth $4,356,000 after purchasing an additional 6,691 shares during the period. Integrated Wealth Concepts LLC increased its position in Charter Communications by 16.3% during the first quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company’s stock worth $336,000 after buying an additional 128 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Charter Communications by 48.1% in the first quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company’s stock valued at $493,000 after buying an additional 435 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Charter Communications by 141.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after buying an additional 55 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Charter Communications by 451.1% in the first quarter. Acadian Asset Management LLC now owns 733 shares of the company’s stock valued at $270,000 after buying an additional 600 shares during the last quarter. Institutional investors own 81.76% of the company’s stock.
Charter Communications Stock Performance
CHTR opened at $142.00 on Friday. The business has a fifty day simple moving average of $135.66 and a 200 day simple moving average of $181.86. The company has a market capitalization of $17.46 billion, a PE ratio of 3.69, a price-to-earnings-growth ratio of 0.24 and a beta of 0.71. Charter Communications, Inc. has a 1 year low of $111.55 and a 1 year high of $285.82. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.40.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Barclays decreased their target price on Charter Communications from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday. New Street Research cut their price target on Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Charter Communications in a research report on Wednesday, June 24th. Wells Fargo & Company decreased their price objective on shares of Charter Communications from $160.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday. Finally, UBS Group dropped their price objective on shares of Charter Communications from $235.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $226.88.
Read Our Latest Stock Report on Charter Communications
Insider Activity
In other Charter Communications news, Director Mauricio Ramos purchased 9,929 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the transaction, the director owned 19,309 shares in the company, valued at $2,721,217.37. The trade was a 105.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Rutledge sold 69,633 shares of Charter Communications stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $144.45, for a total transaction of $10,058,486.85. Following the completion of the sale, the director owned 3,968 shares of the company’s stock, valued at $573,177.60. This trade represents a 94.61% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.
About Charter Communications
Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.
The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.
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