Mackenzie Financial Corp Acquires 5,979 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Mackenzie Financial Corp lifted its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 14.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,854 shares of the company’s stock after purchasing an additional 5,979 shares during the period. Mackenzie Financial Corp’s holdings in Charter Communications were worth $18,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHTR. Dakota Wealth Management raised its position in Charter Communications by 7.8% in the fourth quarter. Dakota Wealth Management now owns 10,196 shares of the company’s stock worth $3,963,000 after acquiring an additional 742 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Charter Communications by 17.6% during the 4th quarter. Vontobel Holding Ltd. now owns 3,014 shares of the company’s stock worth $1,171,000 after purchasing an additional 452 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Charter Communications in the 4th quarter worth approximately $6,957,000. Perigon Wealth Management LLC grew its holdings in Charter Communications by 1.2% during the fourth quarter. Perigon Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $1,345,000 after purchasing an additional 40 shares during the period. Finally, Sapient Capital LLC bought a new stake in shares of Charter Communications in the fourth quarter valued at $392,000. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Price Performance

Shares of NASDAQ CHTR opened at $259.91 on Friday. The stock’s 50-day simple moving average is $284.78 and its two-hundred day simple moving average is $355.31. Charter Communications, Inc. has a twelve month low of $254.31 and a twelve month high of $458.30. The firm has a market capitalization of $37.75 billion, a P/E ratio of 8.66, a P/E/G ratio of 0.43 and a beta of 0.96. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 6.51.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, February 2nd. The company reported $7.07 earnings per share for the quarter, missing the consensus estimate of $8.76 by ($1.69). Charter Communications had a return on equity of 32.32% and a net margin of 8.35%. The company had revenue of $13.71 billion during the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter last year, the company posted $7.69 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities analysts anticipate that Charter Communications, Inc. will post 32.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on CHTR shares. Barclays cut their price target on Charter Communications from $280.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, April 2nd. Sanford C. Bernstein upgraded shares of Charter Communications from a “market perform” rating to an “outperform” rating and set a $370.00 target price for the company in a research note on Monday, March 18th. Rosenblatt Securities dropped their price target on shares of Charter Communications from $334.00 to $297.00 and set a “neutral” rating on the stock in a research note on Monday. UBS Group reduced their price objective 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. Finally, Bank of America dropped their target price on Charter Communications from $350.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $380.80.

About Charter Communications

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.