Banyan Capital Management Inc. Purchases 4,500 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Banyan Capital Management Inc. raised its position in Charter Communications, Inc. (NASDAQ:CHTR) by 16.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 31,943 shares of the company’s stock after acquiring an additional 4,500 shares during the period. Charter Communications makes up 5.8% of Banyan Capital Management Inc.’s investment portfolio, making the stock its 9th largest holding. Banyan Capital Management Inc.’s holdings in Charter Communications were worth $9,550,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CHTR. Savant Capital LLC boosted its stake in shares of Charter Communications by 1.7% during the 2nd quarter. Savant Capital LLC now owns 1,859 shares of the company’s stock worth $556,000 after acquiring an additional 31 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position in Charter Communications by 3.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 1,215 shares of the company’s stock worth $363,000 after purchasing an additional 36 shares in the last quarter. PFG Investments LLC grew its holdings in Charter Communications by 2.1% in the second quarter. PFG Investments LLC now owns 1,926 shares of the company’s stock valued at $576,000 after purchasing an additional 39 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Charter Communications by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 8,067 shares of the company’s stock valued at $2,344,000 after buying an additional 40 shares in the last quarter. Finally, Ingalls & Snyder LLC raised its stake in shares of Charter Communications by 4.4% during the 2nd quarter. Ingalls & Snyder LLC now owns 1,023 shares of the company’s stock worth $306,000 after buying an additional 43 shares during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CHTR. Rosenblatt Securities increased their price objective on shares of Charter Communications from $292.00 to $329.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Citigroup raised shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price objective for the company in a research note on Wednesday, September 11th. Raymond James downgraded Charter Communications from a “market perform” rating to an “underperform” rating in a research report on Monday, July 29th. Barclays increased their price objective on Charter Communications from $250.00 to $300.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Finally, Pivotal Research upped their target price on shares of Charter Communications from $400.00 to $435.00 and gave the company a “buy” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $359.94.

Charter Communications Trading Down 2.4 %

Shares of CHTR stock opened at $331.34 on Friday. Charter Communications, Inc. has a fifty-two week low of $236.08 and a fifty-two week high of $458.30. The firm’s 50 day moving average price is $344.42 and its two-hundred day moving average price is $301.81. The stock has a market cap of $47.72 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.61 and a beta of 1.05. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 5.84.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 26th. The company reported $8.49 EPS for the quarter, topping analysts’ consensus estimates of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The company had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. During the same quarter in the previous year, the firm posted $8.05 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts anticipate that Charter Communications, Inc. will post 32.52 EPS for the current year.

Charter Communications 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.