Exchange Traded Concepts LLC Takes $577,000 Position in Charter Communications, Inc. (NASDAQ:CHTR)

Exchange Traded Concepts LLC acquired a new stake in Charter Communications, Inc. (NASDAQ:CHTR) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,781 shares of the company’s stock, valued at approximately $577,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in shares of Charter Communications by 50.8% in the first quarter. Bessemer Group Inc. now owns 9,147 shares of the company’s stock valued at $2,658,000 after purchasing an additional 3,080 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Charter Communications in the second quarter valued at approximately $7,171,000. FORA Capital LLC raised its holdings in shares of Charter Communications by 45.8% in the first quarter. FORA Capital LLC now owns 20,743 shares of the company’s stock valued at $6,029,000 after purchasing an additional 6,519 shares during the last quarter. Norden Group LLC acquired a new position in Charter Communications during the first quarter worth $828,000. Finally, Cetera Investment Advisers increased its holdings in Charter Communications by 432.3% during the first quarter. Cetera Investment Advisers now owns 7,399 shares of the company’s stock worth $2,150,000 after buying an additional 6,009 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CHTR shares. Citigroup upgraded shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 target price on the stock in a report on Wednesday, September 11th. JPMorgan Chase & Co. boosted their target price on shares of Charter Communications from $300.00 to $385.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Pivotal Research boosted their target price on shares of Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charter Communications from $300.00 to $325.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company boosted their target price on shares of Charter Communications from $260.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $356.41.

Charter Communications Trading Down 0.6 %

Shares of Charter Communications stock opened at $325.61 on Friday. The firm has a 50-day moving average of $336.52 and a 200-day moving average of $307.14. The stock has a market cap of $46.90 billion, a PE ratio of 10.53, a PEG ratio of 0.62 and a beta of 1.05. Charter Communications, Inc. has a 52-week low of $236.08 and a 52-week high of $449.69. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.39 and a current ratio of 0.39.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.98 by $0.51. The company had revenue of $13.69 billion during the quarter, compared to analysts’ expectations of $13.59 billion. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. Charter Communications’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.05 earnings per share. As a group, sell-side analysts forecast that Charter Communications, Inc. will post 32.42 EPS 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.