Ruane Cunniff & Goldfarb L.P. Acquires 797 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Ruane Cunniff & Goldfarb L.P. boosted its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 455,023 shares of the company’s stock after purchasing an additional 797 shares during the quarter. Charter Communications comprises 2.3% of Ruane Cunniff & Goldfarb L.P.’s holdings, making the stock its 15th largest holding. Ruane Cunniff & Goldfarb L.P. owned 0.32% of Charter Communications worth $147,464,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Public Sector Pension Investment Board increased its holdings in Charter Communications by 9.3% in the third quarter. Public Sector Pension Investment Board now owns 4,710 shares of the company’s stock worth $1,526,000 after purchasing an additional 400 shares in the last quarter. National Wealth Management Group LLC acquired a new stake in Charter Communications in the third quarter valued at approximately $628,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Charter Communications in the third quarter valued at approximately $3,021,000. Blueshift Asset Management LLC grew its stake in Charter Communications by 908.0% in the third quarter. Blueshift Asset Management LLC now owns 12,489 shares of the company’s stock valued at $4,047,000 after acquiring an additional 11,250 shares during the period. Finally, Glenmede Trust Co. NA grew its stake in Charter Communications by 13.2% in the third quarter. Glenmede Trust Co. NA now owns 15,356 shares of the company’s stock valued at $4,977,000 after acquiring an additional 1,791 shares during the period. 81.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank of Canada raised their price objective on Charter Communications from $345.00 to $390.00 and gave the company a “sector perform” rating in a research note on Monday, November 4th. Pivotal Research raised their price objective on Charter Communications from $435.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Benchmark raised their price objective on Charter Communications from $440.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. BNP Paribas raised Charter Communications from an “underperform” rating to a “neutral” rating and set a $360.00 price objective for the company in a research note on Tuesday. Finally, Wolfe Research cut Charter Communications from a “peer perform” rating to an “underperform” rating and set a $300.00 price objective for the company. in a research note on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $378.00.

Charter Communications Stock Performance

Shares of Charter Communications stock opened at $389.81 on Thursday. The business’s fifty day simple moving average is $350.95 and its 200 day simple moving average is $327.93. The firm has a market capitalization of $55.43 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 0.61 and a beta of 1.03. Charter Communications, Inc. has a 12 month low of $236.08 and a 12 month high of $415.27. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.24.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, November 1st. The company reported $8.82 EPS for the quarter, topping analysts’ consensus estimates of $8.55 by $0.27. The business had revenue of $13.80 billion for the quarter, compared to analyst estimates of $13.66 billion. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. Charter Communications’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $8.25 earnings per share. As a group, analysts anticipate that Charter Communications, Inc. will post 32.87 EPS for the current year.

Charter Communications 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.