Fernbridge Capital Management LP Acquires Shares of 91,887 Charter Communications, Inc. $CHTR

Fernbridge Capital Management LP bought a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) during the 3rd quarter, Holdings Channel.com reports. The fund bought 91,887 shares of the company’s stock, valued at approximately $25,279,000. Charter Communications accounts for 1.2% of Fernbridge Capital Management LP’s holdings, making the stock its 21st largest holding.

Other large investors have also modified their holdings of the company. Advisory Services Network LLC boosted its stake in shares of Charter Communications by 3.8% in the second quarter. Advisory Services Network LLC now owns 1,028 shares of the company’s stock valued at $420,000 after buying an additional 38 shares in the last quarter. Orion Porfolio Solutions LLC raised its position in Charter Communications by 1.7% in the second quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company’s stock worth $988,000 after acquiring an additional 41 shares in the last quarter. Occudo Quantitative Strategies LP lifted its holdings in Charter Communications by 1.4% in the second quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company’s stock valued at $1,255,000 after acquiring an additional 41 shares during the period. CI Investments Inc. lifted its holdings in Charter Communications by 10.6% in the third quarter. CI Investments Inc. now owns 573 shares of the company’s stock valued at $158,000 after acquiring an additional 55 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after purchasing an additional 55 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Price Performance

Charter Communications stock opened at $218.19 on Friday. The firm has a market capitalization of $27.63 billion, a PE ratio of 6.01, a P/E/G ratio of 0.34 and a beta of 1.02. Charter Communications, Inc. has a 52 week low of $180.38 and a 52 week high of $437.06. The firm’s 50-day simple moving average is $216.65 and its 200 day simple moving average is $228.85. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 4.65.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, January 30th. The company reported $10.34 earnings per share for the quarter, missing the consensus estimate of $10.40 by ($0.06). The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.73 billion. Charter Communications had a net margin of 9.10% and a return on equity of 24.63%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $10.10 earnings per share. On average, equities research analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CHTR. Wells Fargo & Company increased their price target on shares of Charter Communications from $180.00 to $200.00 and gave the company an “underweight” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Charter Communications in a report on Monday, December 29th. TD Cowen upped their target price on shares of Charter Communications from $428.00 to $437.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. The Goldman Sachs Group reduced their price target on shares of Charter Communications from $210.00 to $185.00 and set a “sell” rating for the company in a research report on Monday, February 2nd. Finally, Williams Trading set a $437.00 price target on Charter Communications in a research note on Monday, February 2nd. Six research 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $335.11.

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.