Advisors Asset Management Inc. Boosts Stake in Charter Communications, Inc. (NASDAQ:CHTR)

Advisors Asset Management Inc. boosted its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 7.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 41,587 shares of the company’s stock after purchasing an additional 2,729 shares during the period. Advisors Asset Management Inc.’s holdings in Charter Communications were worth $13,478,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital International Investors grew its stake in shares of Charter Communications by 53.6% in the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock valued at $3,068,661,000 after buying an additional 3,685,451 shares in the last quarter. Pzena Investment Management LLC grew its position in Charter Communications by 6.1% in the 2nd quarter. Pzena Investment Management LLC now owns 3,023,589 shares of the company’s stock valued at $903,932,000 after acquiring an additional 175,130 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Charter Communications by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 712,550 shares of the company’s stock worth $212,998,000 after purchasing an additional 69,959 shares during the period. First Pacific Advisors LP lifted its position in shares of Charter Communications by 2.0% during the second quarter. First Pacific Advisors LP now owns 612,604 shares of the company’s stock worth $183,144,000 after purchasing an additional 12,218 shares in the last quarter. Finally, Cryder Capital Partners LLP boosted its stake in shares of Charter Communications by 8.0% in the third quarter. Cryder Capital Partners LLP now owns 533,036 shares of the company’s stock valued at $172,746,000 after purchasing an additional 39,334 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CHTR shares. Benchmark upped their target price on shares of Charter Communications from $440.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on 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 boosted their target price on Charter Communications from $488.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Citigroup raised Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price target on the stock in a research report on Wednesday, September 11th. Finally, Morgan Stanley boosted their price objective on Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $379.06.

Charter Communications Stock Performance

Shares of Charter Communications stock opened at $384.84 on Wednesday. The firm’s fifty day simple moving average is $345.02 and its 200-day simple moving average is $323.38. Charter Communications, Inc. has a 12 month low of $236.08 and a 12 month high of $415.27. The stock has a market capitalization of $54.72 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.62 and a beta of 1.03. The company has a debt-to-equity ratio of 5.24, a current ratio of 0.34 and a quick ratio of 0.34.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, November 1st. The company reported $8.82 EPS for the quarter, beating 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 company had revenue of $13.80 billion for the quarter, compared to analyst estimates of $13.66 billion. During the same period in the previous year, the business posted $8.25 earnings per share. Charter Communications’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities analysts forecast that Charter Communications, Inc. will post 32.87 earnings per share for the current year.

About Charter Communications

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.