Resona Asset Management Co. Ltd. Purchases 1,318 Shares of Charter Communications, Inc. $CHTR

Resona Asset Management Co. Ltd. raised its position in Charter Communications, Inc. (NASDAQ:CHTR) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,426 shares of the company’s stock after purchasing an additional 1,318 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Charter Communications were worth $12,807,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new stake in shares of Charter Communications in the second quarter worth $25,000. First Horizon Advisors Inc. increased its stake in Charter Communications by 72.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,248 shares of the company’s stock worth $510,000 after acquiring an additional 523 shares during the last quarter. Hussman Strategic Advisors Inc. raised its holdings in shares of Charter Communications by 40.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 14,700 shares of the company’s stock valued at $6,010,000 after acquiring an additional 4,200 shares in the last quarter. Corton Capital Inc. purchased a new stake in shares of Charter Communications in the 2nd quarter valued at about $506,000. Finally, Bank of Montreal Can boosted its position in shares of Charter Communications by 0.4% during the 2nd quarter. Bank of Montreal Can now owns 92,561 shares of the company’s stock valued at $37,840,000 after acquiring an additional 407 shares during the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director David C. Merritt sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total transaction of $271,416.00. Following the completion of the sale, the director owned 10,146 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Insiders own 0.83% of the company’s stock.

Charter Communications Stock Performance

NASDAQ CHTR opened at $219.86 on Friday. The company has a 50-day simple moving average of $257.21 and a two-hundred day simple moving average of $324.67. Charter Communications, Inc. has a 12-month low of $213.50 and a 12-month high of $437.06. The firm has a market cap of $30.03 billion, a price-to-earnings ratio of 6.02, a PEG ratio of 0.55 and a beta of 1.04. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57.

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). The company had revenue of $13.67 billion during the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The company’s revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $8.82 EPS. On average, equities analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CHTR. Citigroup lowered their target price on shares of Charter Communications from $325.00 to $310.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Sanford C. Bernstein restated a “market perform” rating and set a $280.00 price objective (down previously from $350.00) on shares of Charter Communications in a research report on Monday. Oppenheimer lowered shares of Charter Communications from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Bank of America reduced their target price on Charter Communications from $440.00 to $355.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Finally, Royal Bank Of Canada dropped their price target on Charter Communications from $325.00 to $265.00 and set a “sector perform” rating for the company in a research note on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Charter Communications has an average rating of “Reduce” and a consensus target price of $329.56.

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.