Charter Communications, Inc. $CHTR Stock: Pictet Asset Management Holding SA Grows Stake

Pictet Asset Management Holding SA lifted its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 19.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,110 shares of the company’s stock after purchasing an additional 7,350 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Charter Communications were worth $5,003,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cassaday & Co Wealth Management LLC acquired a new position in Charter Communications in the first quarter valued at about $25,000. Trust Co. of Vermont acquired a new stake in Charter Communications during the second quarter worth about $28,000. Raiffeisen Bank International AG grew its stake in 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 buying an additional 161 shares in the last quarter. MCF Advisors LLC grew its stake in Charter Communications by 106.5% during the second quarter. MCF Advisors LLC now owns 223 shares of the company’s stock worth $32,000 after buying an additional 115 shares in the last quarter. Finally, Legacies Wealth LLC bought a new position in Charter Communications in the 3rd quarter valued at about $30,000. 81.76% of the stock is owned by institutional investors and hedge funds.

Charter Communications Price Performance

NASDAQ CHTR traded up $5.73 during trading on Friday, hitting $138.39. 2,969,752 shares of the company’s stock were exchanged, compared to its average volume of 2,980,229. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 3.58. The company has a market cap of $15.84 billion, a PE ratio of 14.31, a P/E/G ratio of 0.70 and a beta of 0.73. Charter Communications, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $254.11. The stock’s 50 day moving average price is $118.93 and its two-hundred day moving average price is $161.90.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, November 6th. The company reported ($20.50) EPS for the quarter, missing analysts’ consensus estimates of $8.94 by ($29.44). The company had revenue of $14.92 billion during the quarter, compared to the consensus estimate of $13.50 billion. Charter Communications had a return on equity of 27.11% and a net margin of 2.50%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $8.34 EPS. Research analysts expect that Charter Communications, Inc. will post 35.30 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CHTR. Williams Trading set a $345.00 target price on shares of Charter Communications in a research report on Monday, November 9th. Morgan Stanley reduced their price target on shares of Charter Communications from $150.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Friday, September 25th. Bank of America reissued a “buy” rating on shares of Charter Communications in a research note on Monday, July 27th. Barclays lowered their price objective on shares of Charter Communications from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, July 27th. Finally, Zacks Research downgraded shares of Charter Communications from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 10th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and eight have given a Sell rating to the company’s stock. Based on data from MarketBeat, Charter Communications has a consensus rating of “Reduce” and a consensus price target of $193.41.

About Charter Communications

Charter Communications, Inc. provides broadband, video, voice and mobile services in the United States, primarily under its Spectrum brand. Its residential offerings include high-speed internet, television and home phone services, while its business services include connectivity, communications and managed solutions for organizations. The company also offers Spectrum Mobile, a wireless service that complements its broadband business. Charter serves customers across a broad U.S. footprint, including communities where it provides services over its cable network.