Cetera Investment Advisers Cuts Position in Charter Communications, Inc. (NASDAQ:CHTR)

Cetera Investment Advisers lowered its position in Charter Communications, Inc. (NASDAQ:CHTR) by 28.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,299 shares of the company’s stock after selling 2,100 shares during the quarter. Cetera Investment Advisers’ holdings in Charter Communications were worth $1,584,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in shares of Charter Communications by 50.8% in the 1st quarter. Bessemer Group Inc. now owns 9,147 shares of the company’s stock valued at $2,658,000 after purchasing an additional 3,080 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Charter Communications during the second quarter worth approximately $7,171,000. FORA Capital LLC raised its position in Charter Communications by 45.8% in the 1st quarter. FORA Capital LLC now owns 20,743 shares of the company’s stock valued at $6,029,000 after purchasing an additional 6,519 shares during the last quarter. Norden Group LLC acquired a new stake in Charter Communications during the 1st quarter worth $828,000. Finally, CX Institutional grew its position in Charter Communications by 41.5% during the 2nd quarter. CX Institutional now owns 10,905 shares of the company’s stock worth $3,260,000 after purchasing an additional 3,199 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CHTR. Raymond James downgraded shares of Charter Communications from a “market perform” rating to an “underperform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on Charter Communications from $300.00 to $385.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. The Goldman Sachs Group started coverage on Charter Communications in a research note on Monday, July 1st. They issued a “sell” rating and a $250.00 target price on the stock. 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 research note on Monday, July 29th. Finally, Pivotal Research lifted their price objective on shares of Charter Communications from $400.00 to $435.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Charter Communications presently has an average rating of “Hold” and a consensus target price of $356.41.

Charter Communications Price Performance

Charter Communications stock opened at $331.80 on Tuesday. The stock has a market capitalization of $47.79 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.62 and a beta of 1.05. Charter Communications, Inc. has a 12-month low of $236.08 and a 12-month high of $458.30. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.39 and a quick ratio of 0.39. The firm’s 50-day moving average is $339.00 and its two-hundred day moving average is $306.25.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.98 by $0.51. The firm had revenue of $13.69 billion for the quarter, compared to analyst estimates of $13.59 billion. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. Charter Communications’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $8.05 earnings per share. Equities analysts predict that Charter Communications, Inc. will post 32.42 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.