NEOS Investment Management LLC Raises Stock Position in Charter Communications, Inc. $CHTR

NEOS Investment Management LLC increased its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 68.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 55,391 shares of the company’s stock after acquiring an additional 22,524 shares during the period. NEOS Investment Management LLC’s holdings in Charter Communications were worth $15,238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atlantic Union Bankshares Corp acquired a new position in Charter Communications during the 2nd quarter worth $25,000. Heritage Wealth Advisors acquired a new position in shares of Charter Communications during the second quarter worth approximately $29,000. Geneos Wealth Management Inc. raised its stake in shares of Charter Communications by 141.0% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after purchasing an additional 55 shares in the last quarter. Webster Bank N. A. acquired a new position in shares of Charter Communications during the third quarter valued at approximately $28,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Charter Communications during the third quarter worth about $30,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Stock Down 0.9%

NASDAQ:CHTR opened at $237.01 on Wednesday. The firm has a market capitalization of $30.01 billion, a P/E ratio of 6.53, a P/E/G ratio of 0.38 and a beta of 1.05. The stock’s fifty day simple moving average is $209.62 and its 200-day simple moving average is $233.07. 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, Inc. has a 12-month low of $180.38 and a 12-month high of $437.06.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, January 30th. The company reported $10.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.40 by ($0.06). Charter Communications had a net margin of 9.10% and a return on equity of 24.63%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.73 billion. During the same quarter in the prior year, the firm posted $10.10 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Charter Communications from $180.00 to $200.00 and gave the stock an “underweight” rating in a research report on Monday, February 2nd. New Street Research cut their price objective on Charter Communications from $479.00 to $328.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Oppenheimer lowered Charter Communications from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 4th. The Goldman Sachs Group reduced their price objective on 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, Benchmark increased their target price on Charter Communications from $425.00 to $455.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $335.67.

Charter Communications 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.