Westpac Banking Corp Boosts Stock Holdings in Charter Communications, Inc. $CHTR

Westpac Banking Corp raised its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 3,063.3% during the third quarter, Holdings Channel reports. The firm owned 4,650 shares of the company’s stock after purchasing an additional 4,503 shares during the period. Westpac Banking Corp’s holdings in Charter Communications were worth $1,279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Y Intercept Hong Kong Ltd lifted its stake in shares of Charter Communications by 113.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 8,031 shares of the company’s stock valued at $3,283,000 after purchasing an additional 4,273 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Charter Communications by 11.8% during the second quarter. Los Angeles Capital Management LLC now owns 38,041 shares of the company’s stock valued at $15,552,000 after buying an additional 4,000 shares in the last quarter. WBI Investments LLC grew its stake in Charter Communications by 74.9% during the second quarter. WBI Investments LLC now owns 3,478 shares of the company’s stock worth $1,422,000 after buying an additional 1,489 shares during the period. Optimize Financial Inc acquired a new stake in shares of Charter Communications in the third quarter worth $1,557,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Charter Communications by 245.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,717 shares of the company’s stock valued at $4,069,000 after acquiring an additional 10,455 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on CHTR shares. Williams Trading set a $437.00 price objective on Charter Communications in a research report on Monday, February 2nd. Zacks Research raised Charter Communications from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. Oppenheimer downgraded shares of Charter Communications from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada reduced their target price on shares of Charter Communications from $265.00 to $240.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. Finally, UBS Group set a $425.00 price target on shares of Charter Communications in a report on Thursday, January 29th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Charter Communications currently has an average rating of “Hold” and a consensus target price of $335.11.

Charter Communications Price Performance

Shares of CHTR stock opened at $228.38 on Friday. The firm has a fifty day moving average of $212.53 and a two-hundred day moving average of $231.98. The firm has a market cap of $28.92 billion, a P/E ratio of 6.29, a P/E/G ratio of 0.36 and a beta of 1.05. Charter Communications, Inc. has a 1-year low of $180.38 and a 1-year high of $437.06. 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 (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, January 30th. The company reported $10.34 EPS for the quarter, missing analysts’ consensus estimates of $10.40 by ($0.06). Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.73 billion. During the same quarter last year, the business posted $10.10 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, research analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Charter Communications Company Profile

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.