Mount Lucas Management LP Cuts Stake in Charter Communications, Inc. (NASDAQ:CHTR)

Mount Lucas Management LP cut its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 60.1% during the third quarter, Holdings Channel reports. The firm owned 2,187 shares of the company’s stock after selling 3,293 shares during the quarter. Mount Lucas Management LP’s holdings in Charter Communications were worth $709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Natixis Advisors LLC raised its position in shares of Charter Communications by 13.8% during the third quarter. Natixis Advisors LLC now owns 35,529 shares of the company’s stock valued at $11,515,000 after buying an additional 4,302 shares during the last quarter. Empirical Finance LLC grew its stake in Charter Communications by 1.6% during the third quarter. Empirical Finance LLC now owns 3,700 shares of the company’s stock valued at $1,199,000 after acquiring an additional 60 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Charter Communications by 4.5% in the 3rd quarter. CIBC Asset Management Inc now owns 39,025 shares of the company’s stock worth $12,647,000 after purchasing an additional 1,693 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Charter Communications by 9.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,632 shares of the company’s stock valued at $853,000 after purchasing an additional 229 shares during the last quarter. Finally, Metis Global Partners LLC grew its position in shares of Charter Communications by 4.2% during the third quarter. Metis Global Partners LLC now owns 4,317 shares of the company’s stock valued at $1,399,000 after purchasing an additional 175 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CHTR shares. Citigroup upgraded Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 target price on the stock in a research report on Wednesday, September 11th. Barclays upped their price objective on Charter Communications from $300.00 to $315.00 and gave the stock an “underweight” rating in a report on Monday, November 4th. Royal Bank of Canada raised their target price on shares of Charter Communications from $345.00 to $390.00 and gave the company a “sector perform” rating in a report on Monday, November 4th. Benchmark upped their price target on shares of Charter Communications from $440.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities lifted their price objective on shares of Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $379.06.

Charter Communications Stock Down 1.2 %

Shares of NASDAQ CHTR opened at $389.57 on Monday. The company has a market cap of $55.40 billion, a P/E ratio of 12.20, a PEG ratio of 0.62 and a beta of 1.03. The firm has a 50-day simple moving average of $342.59 and a two-hundred day simple moving average of $321.67. Charter Communications, Inc. has a 1 year low of $236.08 and a 1 year high of $421.16. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.55 by $0.27. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. The company had revenue of $13.80 billion during the quarter, compared to analysts’ expectations of $13.66 billion. During the same quarter in the previous year, the business earned $8.25 EPS. Charter Communications’s revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate 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.