Weitz Investment Management Inc. Increases Position in Charter Communications, Inc. $CHTR

Weitz Investment Management Inc. boosted its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 8.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,605 shares of the company’s stock after purchasing an additional 8,155 shares during the period. Charter Communications comprises 1.5% of Weitz Investment Management Inc.’s holdings, making the stock its 27th largest position. Weitz Investment Management Inc. owned approximately 0.08% of Charter Communications worth $28,227,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Charter Communications in the second quarter worth about $1,145,387,000. Vanguard Group Inc. raised its stake in Charter Communications by 13.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock valued at $2,575,630,000 after acquiring an additional 1,130,648 shares during the period. Lind Value II ApS purchased a new stake in Charter Communications during the third quarter valued at about $60,646,000. Arrowstreet Capital Limited Partnership boosted its position in Charter Communications by 15.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,575,818 shares of the company’s stock worth $644,210,000 after purchasing an additional 209,869 shares during the period. Finally, State Street Corp increased its stake in shares of Charter Communications by 3.2% in the second quarter. State Street Corp now owns 6,486,312 shares of the company’s stock worth $2,651,669,000 after purchasing an additional 198,979 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CHTR shares. Benchmark raised their price objective on shares of Charter Communications from $425.00 to $455.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Royal Bank Of Canada cut their target price on Charter Communications from $265.00 to $240.00 and set a “sector perform” rating for the company in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a research report on Monday, December 29th. The Goldman Sachs Group cut their price objective on shares of Charter Communications from $210.00 to $185.00 and set a “sell” rating for the company in a research report on Monday, February 2nd. Finally, Barclays decreased their target price on shares of Charter Communications from $275.00 to $200.00 and set an “underweight” rating on the stock in a report on Monday, November 3rd. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, Charter Communications currently has a consensus rating of “Hold” and an average price target of $335.11.

Charter Communications Price Performance

CHTR opened at $231.85 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 4.65. The stock has a market capitalization of $29.36 billion, a P/E ratio of 6.39, a PEG ratio of 0.36 and a beta of 1.05. The stock has a 50-day moving average price of $211.77 and a 200-day moving average price of $232.05. Charter Communications, Inc. has a 12-month low of $180.38 and a 12-month high of $437.06.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, January 30th. The company reported $10.34 earnings per share for the quarter, missing analysts’ consensus estimates of $10.40 by ($0.06). The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.73 billion. Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.10 EPS. Equities analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Charter Communications Company Profile

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.