Davis Rea LTD. Buys New Holdings in Charter Communications, Inc. $CHTR

Davis Rea LTD. bought a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 34,488 shares of the company’s stock, valued at approximately $9,488,000. Charter Communications accounts for approximately 2.3% of Davis Rea LTD.’s portfolio, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of CHTR. Vanguard Group Inc. grew its position in shares of Charter Communications by 0.5% in the second quarter. Vanguard Group Inc. now owns 8,231,704 shares of the company’s stock valued at $3,365,203,000 after purchasing an additional 39,944 shares during the last quarter. State Street Corp raised its position in shares of Charter Communications by 3.2% in the 2nd quarter. State Street Corp now owns 6,486,312 shares of the company’s stock valued at $2,651,669,000 after buying an additional 198,979 shares in the last quarter. Norges Bank acquired a new stake in shares of Charter Communications in the 2nd quarter valued at $1,145,387,000. Geode Capital Management LLC grew its position in Charter Communications by 1.6% in the second quarter. Geode Capital Management LLC now owns 2,595,167 shares of the company’s stock valued at $1,056,800,000 after acquiring an additional 41,206 shares during the last quarter. Finally, Invesco Ltd. increased its position in Charter Communications by 0.7% during the 2nd quarter. Invesco Ltd. now owns 1,848,370 shares of the company’s stock worth $755,632,000 after purchasing an additional 13,563 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. KeyCorp reaffirmed a “sector weight” rating on shares of Charter Communications in a report on Monday, November 3rd. Citigroup dropped their target price on shares of Charter Communications from $325.00 to $310.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. BNP Paribas Exane cut their price target on Charter Communications from $255.00 to $200.00 and set an “underperform” rating on the stock in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Charter Communications from $325.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday, November 3rd. Finally, Oppenheimer downgraded shares of Charter Communications from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $314.88.

Charter Communications Trading Down 3.8%

Shares of Charter Communications stock opened at $194.61 on Friday. The firm has a market cap of $25.18 billion, a PE ratio of 5.40, a P/E/G ratio of 0.55 and a beta of 1.06. The company has a debt-to-equity ratio of 4.89, a current ratio of 0.37 and a quick ratio of 0.37. Charter Communications, Inc. has a 1 year low of $193.00 and a 1 year high of $437.06. The stock has a fifty day moving average price of $205.31 and a 200-day moving average price of $260.42.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, October 31st. The company reported $8.34 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). Charter Communications had a net margin of 9.29% and a return on equity of 25.55%. The company had revenue of $13.67 billion for the quarter, compared to the consensus estimate of $13.76 billion. During the same period in the prior year, the company earned $8.82 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current year.

Insider Transactions at Charter Communications

In other Charter Communications news, Director David C. Merritt sold 1,200 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total transaction of $271,416.00. Following the sale, the director directly owned 10,146 shares of the company’s stock, valued at $2,294,822.28. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.83% of the company’s stock.

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.