DAVENPORT & Co LLC Grows Stock Holdings in Charter Communications, Inc. (NASDAQ:CHTR)

DAVENPORT & Co LLC boosted its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 7,809.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,917 shares of the company’s stock after purchasing an additional 55,210 shares during the quarter. DAVENPORT & Co LLC’s holdings in Charter Communications were worth $16,251,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Mediolanum International Funds Ltd bought a new position in Charter Communications during the first quarter valued at $3,048,000. Pzena Investment Management LLC grew its holdings in shares of Charter Communications by 96.5% in the first quarter. Pzena Investment Management LLC now owns 2,848,459 shares of the company’s stock worth $827,848,000 after purchasing an additional 1,399,034 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Charter Communications by 12.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,824 shares of the company’s stock worth $5,180,000 after purchasing an additional 2,039 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Charter Communications in the first quarter worth about $1,371,000. Finally, Blume Capital Management Inc. bought a new position in shares of Charter Communications in the first quarter worth about $473,000. Institutional investors own 81.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHTR. Citigroup cut shares of Charter Communications from a “neutral” rating to a “sell” rating and cut their price target for the stock from $280.00 to $255.00 in a report on Wednesday, July 3rd. Loop Capital dropped their target price on shares of Charter Communications from $335.00 to $285.00 and set a “hold” rating on the stock in a report on Monday, April 29th. Pivotal Research dropped their target price on shares of Charter Communications from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Monday, April 29th. The Goldman Sachs Group assumed coverage on shares of Charter Communications in a report on Monday, July 1st. They set a “sell” rating and a $250.00 target price on the stock. Finally, Bank of America dropped their target price on shares of Charter Communications from $315.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $341.47.

Charter Communications Stock Performance

NASDAQ:CHTR traded up $10.19 during midday trading on Thursday, hitting $304.14. The company’s stock had a trading volume of 1,435,860 shares, compared to its average volume of 1,439,300. The firm has a market cap of $43.81 billion, a P/E ratio of 9.75, a P/E/G ratio of 1.25 and a beta of 1.04. Charter Communications, Inc. has a fifty-two week low of $236.08 and a fifty-two week high of $458.30. The firm’s 50 day moving average is $280.63 and its 200-day moving average is $300.80. The company has a debt-to-equity ratio of 6.28, a current ratio of 0.40 and a quick ratio of 0.40.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, April 26th. The company reported $7.55 EPS for the quarter, missing analysts’ consensus estimates of $7.78 by ($0.23). The firm had revenue of $13.68 billion for the quarter, compared to analyst estimates of $13.75 billion. Charter Communications had a return on equity of 31.42% and a net margin of 8.50%. Charter Communications’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $6.65 EPS. Equities analysts anticipate that Charter Communications, Inc. will post 32.15 earnings per share for the current fiscal year.

About Charter Communications

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.