Wedmont Private Capital Purchases Shares of 16,519 Charter Communications, Inc. $CHTR

Wedmont Private Capital acquired a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) in the second quarter, Holdings Channel.com reports. The firm acquired 16,519 shares of the company’s stock, valued at approximately $2,160,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHTR. HB Wealth Management LLC grew its holdings in shares of Charter Communications by 146.8% during the 2nd quarter. HB Wealth Management LLC now owns 5,130 shares of the company’s stock worth $730,000 after purchasing an additional 3,051 shares during the period. Saudi Central Bank boosted its position in shares of Charter Communications by 84.2% during the 2nd quarter. Saudi Central Bank now owns 5,718 shares of the company’s stock worth $813,000 after acquiring an additional 2,613 shares in the last quarter. AlphaGrep UK Ltd purchased a new stake in shares of Charter Communications during the 2nd quarter worth approximately $286,000. Raiffeisen Bank International AG increased its position in shares of Charter Communications by 259.7% during the second quarter. Raiffeisen Bank International AG now owns 223 shares of the company’s stock worth $33,000 after purchasing an additional 161 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Charter Communications by 645.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,617 shares of the company’s stock valued at $226,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Price Performance

CHTR stock opened at $151.99 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The firm’s 50-day simple moving average is $143.46 and its 200 day simple moving average is $170.70. The stock has a market cap of $18.13 billion, a PE ratio of 3.95, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. Charter Communications, Inc. has a fifty-two week low of $111.55 and a fifty-two week high of $285.82.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. The business had revenue of $13.53 billion during the quarter, compared to analyst estimates of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $9.18 EPS. As a group, sell-side analysts predict that Charter Communications, Inc. will post 42.72 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CHTR shares. BNP Paribas Exane lowered their price target on Charter Communications from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, July 14th. Bank of America restated a “buy” rating on shares of Charter Communications in a report on Monday, July 27th. Citigroup dropped their price objective on shares of Charter Communications from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. The Goldman Sachs Group dropped their price target on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating on the stock in a research note on Thursday, July 2nd. Finally, New Street Research reduced their target price on Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $226.88.

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.