abrdn plc Raises Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

abrdn plc boosted its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 66.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,236 shares of the company’s stock after acquiring an additional 16,890 shares during the period. abrdn plc’s holdings in Charter Communications were worth $16,416,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new position in Charter Communications during the fourth quarter valued at approximately $25,000. Institute for Wealth Management LLC. grew its stake in Charter Communications by 3.7% during the fourth quarter. Institute for Wealth Management LLC. now owns 1,175 shares of the company’s stock valued at $457,000 after acquiring an additional 42 shares in the last quarter. Cambridge Trust Co. purchased a new position in Charter Communications during the fourth quarter valued at approximately $7,235,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Charter Communications by 41.8% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 217 shares of the company’s stock valued at $84,000 after acquiring an additional 64 shares in the last quarter. Finally, Scissortail Wealth Management LLC purchased a new position in Charter Communications during the fourth quarter valued at approximately $496,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Trading Down 0.6 %

Shares of CHTR opened at $264.70 on Thursday. The firm has a 50 day moving average price of $282.63 and a 200-day moving average price of $350.07. Charter Communications, Inc. has a fifty-two week low of $254.31 and a fifty-two week high of $458.30. The company has a debt-to-equity ratio of 6.51, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market cap of $38.44 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 0.46 and a beta of 0.96.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, February 2nd. The company reported $7.07 EPS for the quarter, missing analysts’ consensus estimates of $8.76 by ($1.69). Charter Communications had a net margin of 8.35% and a return on equity of 32.32%. The firm had revenue of $13.71 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter in the prior year, the company earned $7.69 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts forecast that Charter Communications, Inc. will post 32.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CHTR. Benchmark cut their price target on shares of Charter Communications from $490.00 to $440.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Pivotal Research cut their price target on shares of Charter Communications from $500.00 to $450.00 and set a “buy” rating for the company in a research note on Monday, February 5th. JPMorgan Chase & Co. cut their price target on shares of Charter Communications from $370.00 to $335.00 and set a “neutral” rating for the company in a research note on Monday, April 1st. Barclays cut their price target on shares of Charter Communications from $280.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, April 2nd. Finally, UBS Group cut their price target on shares of Charter Communications from $360.00 to $325.00 and set a “neutral” rating for the company in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Charter Communications has an average rating of “Hold” and a consensus target price of $380.80.

Charter Communications Company Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.