Stockbridge Partners LLC Trims Position in Charter Communications, Inc. (NASDAQ:CHTR)

Stockbridge Partners LLC reduced its position in Charter Communications, Inc. (NASDAQ:CHTR) by 48.6% in the 3rd quarter, Holdings Channel reports. The fund owned 272,520 shares of the company’s stock after selling 258,089 shares during the period. Charter Communications makes up about 1.8% of Stockbridge Partners LLC’s investment portfolio, making the stock its 12th biggest position. Stockbridge Partners LLC’s holdings in Charter Communications were worth $88,318,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CHTR. First Eagle Investment Management LLC lifted its holdings in shares of Charter Communications by 172,425.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 348,501 shares of the company’s stock worth $104,188,000 after acquiring an additional 348,299 shares during the period. Assenagon Asset Management S.A. raised its stake in Charter Communications by 12,597.3% during the third quarter. Assenagon Asset Management S.A. now owns 249,756 shares of the company’s stock worth $80,941,000 after purchasing an additional 247,789 shares during the period. FMR LLC boosted its holdings in shares of Charter Communications by 27.7% in the 3rd quarter. FMR LLC now owns 1,064,948 shares of the company’s stock valued at $345,128,000 after purchasing an additional 230,817 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Charter Communications by 6.1% during the 2nd quarter. Pzena Investment Management LLC now owns 3,023,589 shares of the company’s stock valued at $903,932,000 after buying an additional 175,130 shares during the period. Finally, Fernbridge Capital Management LP acquired a new stake in shares of Charter Communications during the 3rd quarter worth $48,200,000. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Stock Down 0.1 %

Shares of NASDAQ:CHTR opened at $389.81 on Friday. 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. The firm has a market cap of $55.43 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.61 and a beta of 1.03. The company has a fifty day simple moving average of $352.12 and a 200 day simple moving average of $328.36.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, November 1st. The company reported $8.82 earnings per share (EPS) for the quarter, beating 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 net margin of 8.52% and a return on equity of 28.73%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.25 EPS. On average, equities research analysts anticipate that Charter Communications, Inc. will post 32.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Pivotal Research lifted their target price on Charter Communications from $435.00 to $525.00 and gave the company a “buy” rating in a report on Monday, November 4th. Bank of America upgraded Charter Communications from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $385.00 to $450.00 in a report on Monday, November 4th. Citigroup upgraded shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price target on the stock in a report on Wednesday, September 11th. JPMorgan Chase & Co. boosted their price objective on shares of Charter Communications from $385.00 to $400.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Charter Communications from $340.00 to $365.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $378.00.

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.