Honeycomb Asset Management LP Invests $12.74 Million in Charter Communications, Inc. $CHTR

Honeycomb Asset Management LP bought a new position in Charter Communications, Inc. (NASDAQ:CHTR) during the first quarter, according to its most recent filing with the SEC. The firm bought 59,000 shares of the company’s stock, valued at approximately $12,737,000. Charter Communications makes up 65.5% of Honeycomb Asset Management LP’s investment portfolio, making the stock its largest holding.

Several other hedge funds have also bought and sold shares of CHTR. Cassaday & Co Wealth Management LLC bought a new stake in Charter Communications during the 1st quarter valued at $25,000. Quarry LP lifted its stake in shares of Charter Communications by 153.2% in the fourth quarter. Quarry LP now owns 119 shares of the company’s stock valued at $25,000 after buying an additional 72 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of Charter Communications in the fourth quarter valued at $25,000. DV Equities LLC acquired a new position in shares of Charter Communications during the fourth quarter valued at about $25,000. Finally, Geneos Wealth Management Inc. grew its holdings 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 buying an additional 55 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CHTR shares. Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a report on Wednesday, June 24th. TD Cowen cut their price target on Charter Communications from $413.00 to $380.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a report on Monday, April 27th. Sanford C. Bernstein reissued a “market perform” rating and issued a $150.00 price objective on shares of Charter Communications in a research note on Monday, July 27th. Finally, Royal Bank Of Canada dropped their target price on Charter Communications from $160.00 to $150.00 and set a “sector perform” rating on the stock in a report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, Charter Communications has a consensus rating of “Reduce” and an average target price of $226.88.

Charter Communications Price Performance

Charter Communications stock opened at $144.98 on Friday. The business’s 50 day simple moving average is $135.65 and its 200 day simple moving average is $181.61. Charter Communications, Inc. has a 12 month low of $111.55 and a 12 month high of $285.82. The company has a market cap of $17.29 billion, a price-to-earnings ratio of 3.76, a PEG ratio of 0.24 and a beta of 0.71. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. The business had revenue of $13.53 billion during the quarter, compared to the consensus estimate of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the business posted $9.18 earnings per share. Sell-side analysts forecast that Charter Communications, Inc. will post 42.72 EPS for the current year.

Insider Buying and Selling at Charter Communications

In other news, Director Mauricio Ramos acquired 9,929 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the acquisition, the director owned 19,309 shares in the company, valued at $2,721,217.37. The trade was a 105.85% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas Rutledge sold 69,633 shares of Charter Communications stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $144.45, for a total value of $10,058,486.85. Following the completion of the sale, the director directly owned 3,968 shares of the company’s stock, valued at approximately $573,177.60. This trade represents a 94.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

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.