State of Michigan Retirement System Has $8.01 Million Position in Charter Communications, Inc. (NASDAQ:CHTR)

State of Michigan Retirement System reduced its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,797 shares of the company’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in Charter Communications were worth $8,011,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CHTR. International Assets Investment Management LLC acquired a new position in shares of Charter Communications during the 4th quarter worth about $362,570,000. CWM LLC grew its position in shares of Charter Communications by 5.5% in the 4th quarter. CWM LLC now owns 2,429 shares of the company’s stock valued at $944,000 after purchasing an additional 126 shares during the period. GAMMA Investing LLC acquired a new position in shares of Charter Communications in the 4th quarter valued at approximately $140,000. PGGM Investments grew its position in shares of Charter Communications by 44.8% in the 4th quarter. PGGM Investments now owns 2,311 shares of the company’s stock valued at $898,000 after purchasing an additional 715 shares during the period. Finally, Retirement Systems of Alabama grew its position in shares of Charter Communications by 10.0% in the 4th quarter. Retirement Systems of Alabama now owns 90,562 shares of the company’s stock valued at $35,200,000 after purchasing an additional 8,250 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Pivotal Research boosted their price objective on Charter Communications from $400.00 to $435.00 and gave the company a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group assumed coverage on Charter Communications in a research report on Monday, July 1st. They issued a “sell” rating and a $250.00 price objective for the company. Rosenblatt Securities boosted their price objective on Charter Communications from $292.00 to $329.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. TD Cowen boosted their price objective on Charter Communications from $488.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Raymond James lowered Charter Communications from a “market perform” rating to an “underperform” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Charter Communications currently has an average rating of “Hold” and a consensus target price of $360.93.

Charter Communications Trading Up 1.5 %

Shares of Charter Communications stock opened at $360.77 on Wednesday. Charter Communications, Inc. has a 12-month low of $236.08 and a 12-month high of $458.30. The stock has a market cap of $51.96 billion, a P/E ratio of 11.67, a P/E/G ratio of 0.70 and a beta of 1.04. The company has a quick ratio of 0.40, a current ratio of 0.39 and a debt-to-equity ratio of 5.84. The business’s 50 day moving average is $327.80 and its 200-day moving average is $296.04.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The company had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. During the same quarter in the prior year, the business posted $8.05 EPS. The business’s revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Charter Communications, Inc. will post 32.52 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.