Meritage Portfolio Management Makes New Investment in Charter Communications, Inc. (NASDAQ:CHTR)

Meritage Portfolio Management purchased a new position in Charter Communications, Inc. (NASDAQ:CHTR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 896 shares of the company’s stock, valued at approximately $348,000.

A number of other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC grew its position in shares of Charter Communications by 9.7% during the third quarter. AQR Capital Management LLC now owns 14,782 shares of the company’s stock valued at $6,501,000 after purchasing an additional 1,311 shares in the last quarter. River Road Asset Management LLC purchased a new position in shares of Charter Communications during the third quarter valued at about $29,948,000. Graham Capital Management L.P. grew its position in shares of Charter Communications by 354.7% during the third quarter. Graham Capital Management L.P. now owns 15,133 shares of the company’s stock valued at $6,656,000 after purchasing an additional 11,805 shares in the last quarter. DigitalBridge Group Inc. purchased a new position in shares of Charter Communications during the third quarter valued at about $16,411,000. Finally, Kinetic Partners Management LP grew its position in shares of Charter Communications by 51.3% during the third quarter. Kinetic Partners Management LP now owns 177,801 shares of the company’s stock valued at $78,200,000 after purchasing an additional 60,300 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CHTR. Barclays cut their price objective on Charter Communications from $280.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their price target on shares of Charter Communications from $370.00 to $335.00 and set a “neutral” rating for the company in a report on Monday, April 1st. Pivotal Research lowered their price target on shares of Charter Communications from $500.00 to $450.00 and set a “buy” rating for the company in a report on Monday, February 5th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Charter Communications from $375.00 to $320.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Finally, Rosenblatt Securities lowered their price target on shares of Charter Communications from $334.00 to $297.00 and set a “neutral” rating for the company in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $380.80.

Charter Communications Trading Down 1.2 %

Shares of Charter Communications stock traded down $3.12 on Friday, hitting $255.98. 1,816,195 shares of the company traded hands, compared to its average volume of 1,587,542. The stock’s 50 day moving average price is $281.92 and its 200-day moving average price is $349.44. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 6.51. Charter Communications, Inc. has a 52 week low of $236.08 and a 52 week high of $458.30. The company has a market cap of $37.18 billion, a PE ratio of 8.63, a PEG ratio of 0.46 and a beta of 0.96.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, April 26th. The company reported $7.55 earnings per share for the quarter, missing the consensus estimate of $7.78 by ($0.23). Charter Communications had a net margin of 8.35% and a return on equity of 32.32%. The company had revenue of $13.68 billion for the quarter, compared to the consensus estimate of $13.75 billion. During the same period in the prior year, the firm posted $6.65 EPS. The business’s revenue was up .2% on a year-over-year basis. Equities research analysts predict that Charter Communications, Inc. will post 32.8 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.