Alberta Investment Management Corp Buys Shares of 33,000 Charter Communications, Inc. $CHTR

Alberta Investment Management Corp acquired a new stake in Charter Communications, Inc. (NASDAQ:CHTR) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 33,000 shares of the company’s stock, valued at approximately $9,078,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CHTR. Vanguard Group Inc. raised its position in shares of Charter Communications by 13.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock worth $2,575,630,000 after acquiring an additional 1,130,648 shares in the last quarter. State Street Corp boosted its stake in shares of Charter Communications by 3.2% during the 2nd quarter. State Street Corp now owns 6,486,312 shares of the company’s stock worth $2,651,669,000 after acquiring an additional 198,979 shares in the last quarter. Norges Bank purchased a new stake in shares of Charter Communications in the 2nd quarter worth about $1,145,387,000. Geode Capital Management LLC raised its position in Charter Communications by 1.6% during the second quarter. Geode Capital Management LLC now owns 2,595,167 shares of the company’s stock worth $1,056,800,000 after acquiring an additional 41,206 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Charter Communications by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 2,288,208 shares of the company’s stock valued at $629,498,000 after purchasing an additional 42,499 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Stock Performance

NASDAQ CHTR opened at $239.14 on Thursday. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.39 and a quick ratio of 0.39. Charter Communications, Inc. has a 1-year low of $180.38 and a 1-year high of $437.06. The firm has a market capitalization of $30.28 billion, a P/E ratio of 6.59, a P/E/G ratio of 0.37 and a beta of 1.05. The business’s 50-day simple moving average is $210.14 and its 200-day simple moving average is $233.11.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, January 30th. The company reported $10.34 earnings per share for the quarter, missing analysts’ consensus estimates of $10.40 by ($0.06). Charter Communications had a net margin of 9.10% and a return on equity of 24.63%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.73 billion. During the same period last year, the firm earned $10.10 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current year.

Wall Street Analysts Forecast Growth

CHTR has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Charter Communications from $180.00 to $200.00 and gave the company an “underweight” rating in a research report on Monday, February 2nd. Williams Trading set a $437.00 target price on shares of Charter Communications in a research note on Monday, February 2nd. Royal Bank Of Canada decreased their price objective on Charter Communications from $265.00 to $240.00 and set a “sector perform” rating on the stock in a report on Friday, January 16th. Benchmark increased their target price on Charter Communications from $425.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, Zacks Research upgraded Charter Communications from a “strong sell” rating to a “hold” rating in a report on Monday. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $335.67.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.