Sands Capital Management LLC Raises Position in Charter Communications, Inc. $CHTR

Sands Capital Management LLC raised its position in Charter Communications, Inc. (NASDAQ:CHTR) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 242,432 shares of the company’s stock after buying an additional 2,828 shares during the period. Sands Capital Management LLC owned about 0.18% of Charter Communications worth $99,109,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new stake in shares of Charter Communications during the second quarter worth approximately $25,000. Salem Investment Counselors Inc. grew its holdings in shares of Charter Communications by 2,033.3% during the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock worth $26,000 after buying an additional 61 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Charter Communications in the second quarter valued at about $28,000. SouthState Corp purchased a new position in shares of Charter Communications in the first quarter worth about $25,000. Finally, Heritage Wealth Advisors acquired a new position in Charter Communications during the second quarter worth about $29,000. Institutional investors and hedge funds own 81.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Benchmark cut their price objective on shares of Charter Communications from $475.00 to $425.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Wells Fargo & Company cut their price target on Charter Communications from $300.00 to $240.00 and set an “equal weight” rating for the company in a report on Monday, November 3rd. Citigroup reduced their price objective on Charter Communications from $325.00 to $310.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. KeyCorp restated a “sector weight” rating on shares of Charter Communications in a report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Charter Communications from $325.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Charter Communications presently has an average rating of “Reduce” and a consensus target price of $329.56.

Charter Communications Price Performance

NASDAQ:CHTR opened at $197.72 on Wednesday. Charter Communications, Inc. has a 52 week low of $193.00 and a 52 week high of $437.06. The stock’s fifty day moving average is $236.23 and its two-hundred day moving average is $301.40. The company has a market capitalization of $25.59 billion, a P/E ratio of 5.49, a P/E/G ratio of 0.63 and a beta of 1.06. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 4.89.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, October 31st. The company reported $8.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). Charter Communications had a return on equity of 25.55% and a net margin of 9.29%.The business had revenue of $13.67 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same period in the previous year, the business posted $8.82 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current year.

Insider Activity at Charter Communications

In related news, Director David C. Merritt sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total transaction of $271,416.00. Following the completion of the transaction, the director owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. This trade represents a 10.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

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.