Mackenzie Financial Corp Trims Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

Mackenzie Financial Corp trimmed its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,523 shares of the company’s stock after selling 373 shares during the period. Mackenzie Financial Corp’s holdings in Charter Communications were worth $13,610,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CHTR. Capital International Investors raised its stake in shares of Charter Communications by 53.6% during the 1st quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock worth $3,068,661,000 after buying an additional 3,685,451 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Charter Communications by 96.5% during the 1st quarter. Pzena Investment Management LLC now owns 2,848,459 shares of the company’s stock worth $827,848,000 after buying an additional 1,399,034 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Charter Communications by 172,425.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 348,501 shares of the company’s stock worth $104,188,000 after buying an additional 348,299 shares in the last quarter. Putnam Investments LLC raised its stake in shares of Charter Communications by 24.5% during the 4th quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock worth $479,337,000 after buying an additional 242,448 shares in the last quarter. Finally, Voyager Global Management LP raised its stake in shares of Charter Communications by 35.7% during the 4th quarter. Voyager Global Management LP now owns 475,000 shares of the company’s stock worth $184,623,000 after buying an additional 125,000 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Trading Up 2.9 %

Shares of Charter Communications stock opened at $326.22 on Monday. Charter Communications, Inc. has a fifty-two week low of $236.08 and a fifty-two week high of $458.30. The firm has a market cap of $46.99 billion, a PE ratio of 10.55, a P/E/G ratio of 0.61 and a beta of 1.05. The business’s fifty day moving average is $344.58 and its two-hundred day moving average is $303.59. 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 earnings results on Friday, July 26th. The company reported $8.49 earnings per share for the quarter, topping the consensus estimate of $7.98 by $0.51. The business had revenue of $13.69 billion for the quarter, compared to analyst estimates of $13.59 billion. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $8.05 EPS. Analysts anticipate that Charter Communications, Inc. will post 32.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CHTR. The Goldman Sachs Group began coverage on Charter Communications in a report on Monday, July 1st. They issued a “sell” rating and a $250.00 price target on the stock. Pivotal Research upped their price target on Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Barclays upped their price target on Charter Communications from $250.00 to $300.00 and gave the stock an “underweight” rating in a report on Monday, July 29th. Wolfe Research cut Charter Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Charter Communications from $300.00 to $325.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $359.94.

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.