Ritholtz Wealth Management Acquires New Position in Charter Communications, Inc. (NASDAQ:CHTR)

Ritholtz Wealth Management purchased a new stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,305 shares of the company’s stock, valued at approximately $1,133,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CHTR. Franklin Resources Inc. increased its position in shares of Charter Communications by 4.9% in the 3rd quarter. Franklin Resources Inc. now owns 3,179,454 shares of the company’s stock valued at $1,052,868,000 after acquiring an additional 148,003 shares during the period. Geode Capital Management LLC raised its stake in shares of Charter Communications by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,432,231 shares of the company’s stock worth $785,744,000 after purchasing an additional 13,430 shares during the last quarter. FMR LLC lifted its holdings in shares of Charter Communications by 27.7% during the third quarter. FMR LLC now owns 1,064,948 shares of the company’s stock worth $345,128,000 after purchasing an additional 230,817 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Charter Communications by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 824,696 shares of the company’s stock valued at $267,267,000 after buying an additional 7,008 shares during the last quarter. Finally, Cryder Capital Partners LLP increased its holdings in Charter Communications by 8.0% in the 3rd quarter. Cryder Capital Partners LLP now owns 533,036 shares of the company’s stock worth $172,746,000 after buying an additional 39,334 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Price Performance

Charter Communications stock opened at $351.37 on Friday. The company has a fifty day simple moving average of $370.33 and a 200-day simple moving average of $349.10. The firm has a market capitalization of $49.96 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 0.48 and a beta of 1.10. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 5.24. Charter Communications, Inc. has a 52-week low of $236.08 and a 52-week high of $415.27.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, November 1st. The company reported $8.82 EPS for the quarter, beating analysts’ consensus estimates of $8.55 by $0.27. The company had revenue of $13.80 billion during the quarter, compared to the consensus estimate of $13.66 billion. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. Charter Communications’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.25 EPS. On average, equities analysts anticipate that Charter Communications, Inc. will post 34.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CHTR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charter Communications from $340.00 to $365.00 and gave the company a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on Charter Communications from $385.00 to $400.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Barclays upped their target price on Charter Communications from $300.00 to $315.00 and gave the stock an “underweight” rating in a research note on Monday, November 4th. Pivotal Research lifted their price target on Charter Communications from $435.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Morgan Stanley upped their price objective on Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $383.89.

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.