Charter Communications Inc (NASDAQ:CHTR) Holdings Boosted by Westpac Banking Corp

Westpac Banking Corp boosted its position in shares of Charter Communications Inc (NASDAQ:CHTR) by 14.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,033 shares of the company’s stock after purchasing an additional 1,797 shares during the period. Westpac Banking Corp’s holdings in Charter Communications were worth $5,546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHTR. Egerton Capital UK LLP grew its position in Charter Communications by 21.4% during the 1st quarter. Egerton Capital UK LLP now owns 2,846,860 shares of the company’s stock worth $987,604,000 after purchasing an additional 502,358 shares in the last quarter. FIL Ltd grew its holdings in shares of Charter Communications by 416.0% during the 1st quarter. FIL Ltd now owns 598,353 shares of the company’s stock valued at $207,575,000 after acquiring an additional 482,397 shares in the last quarter. Jackson Square Partners LLC grew its holdings in shares of Charter Communications by 53.1% during the 1st quarter. Jackson Square Partners LLC now owns 1,149,607 shares of the company’s stock valued at $398,810,000 after acquiring an additional 398,865 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Charter Communications during the 1st quarter valued at $93,597,000. Finally, Geode Capital Management LLC grew its holdings in shares of Charter Communications by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 2,218,112 shares of the company’s stock valued at $630,980,000 after acquiring an additional 167,729 shares in the last quarter. Hedge funds and other institutional investors own 72.55% of the company’s stock.

Several equities analysts have recently commented on CHTR shares. Macquarie started coverage on shares of Charter Communications in a report on Wednesday, June 19th. They set a “hold” rating and a $390.00 price target on the stock. Bank of America restated a “buy” rating and set a $450.00 price target (up from $425.00) on shares of Charter Communications in a report on Tuesday, July 30th. Pivotal Research restated a “buy” rating and set a $500.00 price target on shares of Charter Communications in a report on Friday, July 26th. Credit Suisse Group boosted their price target on shares of Charter Communications from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Citigroup started coverage on shares of Charter Communications in a report on Thursday, June 13th. They set a “buy” rating and a $480.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Charter Communications currently has an average rating of “Hold” and a consensus price target of $416.06.

NASDAQ:CHTR traded up $3.60 during trading hours on Friday, reaching $384.54. The company’s stock had a trading volume of 336,431 shares, compared to its average volume of 1,268,786. The company has a market cap of $84.02 billion, a price-to-earnings ratio of 73.67, a price-to-earnings-growth ratio of 1.31 and a beta of 1.23. Charter Communications Inc has a one year low of $272.91 and a one year high of $417.13. The business’s 50-day moving average is $396.71 and its 200-day moving average is $371.88. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.34 and a quick ratio of 0.34.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 26th. The company reported $1.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.79 by ($0.40). The business had revenue of $11.35 billion during the quarter, compared to the consensus estimate of $11.40 billion. Charter Communications had a return on equity of 3.08% and a net margin of 3.04%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.15 earnings per share. On average, sell-side analysts predict that Charter Communications Inc will post 6.91 EPS for the current fiscal year.

In other Charter Communications news, Director Craig A. Jacobson sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $389.78, for a total transaction of $389,780.00. Following the completion of the transaction, the director now owns 11,773 shares of the company’s stock, valued at approximately $4,588,879.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lance Conn sold 927 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $400.00, for a total transaction of $370,800.00. Following the transaction, the director now directly owns 9,552 shares of the company’s stock, valued at approximately $3,820,800. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

About Charter Communications

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

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