Moors & Cabot Inc. Acquires Shares of 505 Charter Communications, Inc. (NASDAQ:CHTR)

Moors & Cabot Inc. purchased a new stake in shares of Charter Communications, Inc. (NASDAQ:CHTRFree Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 505 shares of the company’s stock, valued at approximately $222,000.

Several other institutional investors have also recently made changes to their positions in CHTR. Fund Management at Engine No. 1 LLC grew its stake in shares of Charter Communications by 5.9% in the second quarter. Fund Management at Engine No. 1 LLC now owns 1,353 shares of the company’s stock worth $497,000 after acquiring an additional 75 shares in the last quarter. Raymond James & Associates grew its stake in shares of Charter Communications by 16.0% in the second quarter. Raymond James & Associates now owns 14,114 shares of the company’s stock worth $5,185,000 after acquiring an additional 1,949 shares in the last quarter. Rosenbaum Jay D. acquired a new position in shares of Charter Communications in the second quarter worth $240,000. Principal Financial Group Inc. grew its stake in shares of Charter Communications by 26.7% in the third quarter. Principal Financial Group Inc. now owns 197,611 shares of the company’s stock worth $86,913,000 after acquiring an additional 41,694 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new position in shares of Charter Communications in the third quarter worth $3,383,000. Hedge funds and other institutional investors own 93.84% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Thomas Rutledge sold 83,970 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $410.82, for a total transaction of $34,496,555.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.32% of the stock is currently owned by corporate insiders.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $290.28 on Wednesday. The company has a 50-day simple moving average of $373.84 and a 200-day simple moving average of $406.08. Charter Communications, Inc. has a one year low of $288.84 and a one year high of $458.30. The company has a debt-to-equity ratio of 6.51, a quick ratio of 0.33 and a current ratio of 0.31. The stock has a market capitalization of $42.94 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 0.46 and a beta of 1.03.

Charter Communications (NASDAQ:CHTRGet Free Report) last announced its earnings results on Friday, February 2nd. The company reported $7.07 EPS for the quarter, missing analysts’ consensus estimates of $8.76 by ($1.69). The business had revenue of $13.71 billion during the quarter, compared to analysts’ expectations of $13.70 billion. Charter Communications had a net margin of 8.35% and a return on equity of 32.32%. Charter Communications’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $7.69 earnings per share. On average, analysts predict that Charter Communications, Inc. will post 35.61 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Charter Communications from $500.00 to $475.00 and set an “equal weight” rating for the company in a research note on Monday, October 30th. UBS Group lowered their target price on shares of Charter Communications from $415.00 to $360.00 and set a “neutral” rating for the company in a research note on Monday. Pivotal Research lowered their target price on shares of Charter Communications from $500.00 to $450.00 and set a “buy” rating for the company in a research note on Monday. Benchmark lowered their target price on shares of Charter Communications from $490.00 to $440.00 and set a “buy” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. downgraded shares of Charter Communications from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $445.00 to $370.00 in a research note on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $425.31.

View Our Latest Report on CHTR

Charter Communications Profile

(Free Report)

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; security suite that protects computers from viruses and spyware, and threats from malicious actors; 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.

Further Reading

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Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

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