Engineers Gate Manager LP Acquires 11,403 Shares of Charter Communications, Inc. $CHTR

Engineers Gate Manager LP increased its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 569.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,407 shares of the company’s stock after purchasing an additional 11,403 shares during the period. Engineers Gate Manager LP’s holdings in Charter Communications were worth $1,907,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Cidel Asset Management Inc. raised its position in Charter Communications by 36.3% in the 2nd quarter. Cidel Asset Management Inc. now owns 5,076 shares of the company’s stock worth $722,000 after purchasing an additional 1,351 shares during the period. Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Charter Communications in the second quarter worth about $239,000. Integrated Wealth Concepts LLC lifted its stake in shares of Charter Communications by 1,179.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 27,029 shares of the company’s stock valued at $3,844,000 after acquiring an additional 24,916 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Charter Communications by 211.9% in the 2nd quarter. NewEdge Advisors LLC now owns 5,496 shares of the company’s stock valued at $782,000 after acquiring an additional 3,734 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in Charter Communications by 105.3% during the 2nd quarter. IFP Advisors Inc now owns 2,739 shares of the company’s stock valued at $390,000 after acquiring an additional 1,405 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Trading Down 1.5%

NASDAQ CHTR opened at $141.20 on Wednesday. Charter Communications, Inc. has a fifty-two week low of $111.55 and a fifty-two week high of $285.82. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50 day simple moving average of $143.87 and a two-hundred day simple moving average of $166.93. The stock has a market cap of $16.84 billion, a P/E ratio of 3.67, a price-to-earnings-growth ratio of 0.30 and a beta of 0.69.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.98 by $0.68. The firm had revenue of $13.53 billion for the quarter, compared to analysts’ expectations of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The business’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.18 earnings per share. On average, analysts forecast that Charter Communications, Inc. will post 42.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CHTR has been the topic of a number of analyst reports. Freedom Capital raised Charter Communications to a “hold” rating in a research note on Friday, June 12th. Benchmark reissued a “buy” rating on shares of Charter Communications in a research note on Wednesday, July 22nd. BNP Paribas Exane cut their target price on shares of Charter Communications from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, July 14th. UBS Group decreased their target price on shares of Charter Communications from $235.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Finally, New Street Research lowered their price target on shares of Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, Charter Communications currently has an average rating of “Reduce” and a consensus target price of $216.56.

About Charter Communications

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company’s consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.