Long Path Partners LP Takes $6.91 Million Position in Charter Communications, Inc. (NASDAQ:CHTR)

Long Path Partners LP acquired a new position in Charter Communications, Inc. (NASDAQ:CHTR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,171 shares of the company’s stock, valued at approximately $6,914,000. Charter Communications comprises 2.2% of Long Path Partners LP’s portfolio, making the stock its 9th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Avior Wealth Management LLC lifted its stake in shares of Charter Communications by 104.7% in the 4th quarter. Avior Wealth Management LLC now owns 88 shares of the company’s stock worth $30,000 after purchasing an additional 45 shares during the period. Sierra Ocean LLC purchased a new position in shares of Charter Communications during the 4th quarter valued at $32,000. Generali Asset Management SPA SGR purchased a new position in shares of Charter Communications in the fourth quarter valued at about $36,000. Brown Brothers Harriman & Co. boosted its stake in shares of Charter Communications by 37.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 29 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Charter Communications during the fourth quarter worth about $45,000. 81.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CHTR. Barclays upped their target price on shares of Charter Communications from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Monday, February 3rd. Citigroup initiated coverage on Charter Communications in a research report on Friday, March 14th. They set a “buy” rating and a $425.00 target price on the stock. StockNews.com cut shares of Charter Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Benchmark reissued a “buy” rating and issued a $450.00 price objective on shares of Charter Communications in a research report on Friday, January 31st. Finally, KeyCorp raised Charter Communications from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective on the stock in a research report on Thursday, December 12th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $393.18.

Charter Communications Stock Up 2.3 %

CHTR opened at $379.27 on Thursday. Charter Communications, Inc. has a fifty-two week low of $236.08 and a fifty-two week high of $415.27. The company has a debt-to-equity ratio of 4.73, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $53.84 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 0.44 and a beta of 1.12. The company has a fifty day moving average of $360.98 and a two-hundred day moving average of $357.46.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, February 7th. The company reported $10.10 EPS for the quarter, beating the consensus estimate of $9.14 by $0.96. Charter Communications had a return on equity of 29.01% and a net margin of 9.23%. During the same period in the prior year, the company posted $7.07 earnings per share. On average, research analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Charter Communications Profile

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.