Exchange Traded Concepts LLC Takes $577,000 Position in Charter Communications, Inc. (NASDAQ:CHTR)

Exchange Traded Concepts LLC acquired a new stake in Charter Communications, Inc. (NASDAQ:CHTR) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,781 shares of the company’s stock, valued at approximately $577,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of Charter Communications by 50.8% in the first quarter. Bessemer Group Inc. now owns 9,147 shares of the company’s stock valued at $2,658,000 after buying an additional 3,080 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of Charter Communications in the second quarter valued at approximately $7,171,000. FORA Capital LLC increased its stake in shares of Charter Communications by 45.8% in the first quarter. FORA Capital LLC now owns 20,743 shares of the company’s stock valued at $6,029,000 after buying an additional 6,519 shares during the period. Norden Group LLC acquired a new position in shares of Charter Communications in the first quarter valued at approximately $828,000. Finally, Cetera Investment Advisers increased its stake in shares of Charter Communications by 432.3% in the first quarter. Cetera Investment Advisers now owns 7,399 shares of the company’s stock valued at $2,150,000 after buying an additional 6,009 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Stock Performance

Shares of CHTR stock opened at $325.61 on Friday. The company has a market cap of $46.90 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 0.62 and a beta of 1.05. Charter Communications, Inc. has a 52 week low of $236.08 and a 52 week high of $449.69. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 5.84. The firm has a 50 day moving average of $336.52 and a 200-day moving average of $307.14.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.98 by $0.51. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. The business had revenue of $13.69 billion during the quarter, compared to the consensus estimate of $13.59 billion. During the same quarter last year, the firm posted $8.05 EPS. Charter Communications’s revenue was up .2% compared to the same quarter last year. On average, equities analysts forecast that Charter Communications, Inc. will post 32.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Rosenblatt Securities increased their target price on shares of Charter Communications from $292.00 to $329.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Raymond James downgraded shares of Charter Communications from a “market perform” rating to an “underperform” rating in a research report on Monday, July 29th. Morgan Stanley increased their target price on shares of Charter Communications from $330.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Royal Bank of Canada assumed coverage on shares of Charter Communications in a research report on Thursday, September 19th. They set a “sector perform” rating and a $345.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Charter Communications in a research report on Monday, July 1st. They set a “sell” rating and a $250.00 target price for the company. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $356.41.

Charter Communications Company 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.