Charter Communications, Inc. $CHTR Stock: New Mexico Educational Retirement Board Boosts Stake

New Mexico Educational Retirement Board boosted its position in Charter Communications, Inc. (NASDAQ:CHTR) by 468.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 24,428 shares of the company’s stock after acquiring an additional 20,128 shares during the period. New Mexico Educational Retirement Board’s holdings in Charter Communications were worth $2,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of Charter Communications by 28.4% in the first quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock valued at $157,961,000 after purchasing an additional 161,888 shares during the period. Sei Investments Co. boosted its holdings in Charter Communications by 79.2% in the 1st quarter. Sei Investments Co. now owns 250,497 shares of the company’s stock worth $54,078,000 after buying an additional 110,684 shares during the period. Swiss National Bank grew its stake in Charter Communications by 1.5% in the 1st quarter. Swiss National Bank now owns 246,896 shares of the company’s stock valued at $53,300,000 after buying an additional 3,560 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Charter Communications by 443.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company’s stock valued at $46,565,000 after buying an additional 342,668 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Charter Communications by 562.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 328,457 shares of the company’s stock valued at $36,426,000 after buying an additional 278,898 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CHTR has been the topic of several recent research reports. Barclays dropped their target price on Charter Communications from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, July 27th. Morgan Stanley reduced their price target on Charter Communications from $150.00 to $140.00 and set an “equal weight” rating for the company in a research report on Friday, September 25th. Zacks Research lowered Charter Communications from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Bank of America reiterated a “buy” rating on shares of Charter Communications in a research note on Monday, July 27th. Finally, The Goldman Sachs Group dropped their price objective on Charter Communications from $120.00 to $110.00 and set a “sell” rating on the stock in a report on Friday, September 25th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, Charter Communications currently has a consensus rating of “Reduce” and an average target price of $193.41.

Top Charter Communications Stories

These are some of the CHTR stories that stood out recently:

• Positive Sentiment: Charter subsidiaries launched cash tender offers for eight note series, with up to $1.5 billion in aggregate consideration. The announcement was associated with a sharp stock rally, suggesting investors welcomed the debt-management move. Charter Announces Tender Offers for Eight Series of Notes
• Positive Sentiment: Citigroup raised its price target to $150 from $140 and maintained a Buy rating, implying further potential upside. A Wells Fargo analyst also reportedly sees the shares rising, though the article details were limited. Citigroup rating information Wells Fargo analyst article
• Negative Sentiment: A separate earnings-call analysis characterized Charter’s growth reset as costly, raising concerns about the expense of its strategy. Earnings call analysis

Charter Communications Stock Performance

Charter Communications stock opened at $136.31 on Thursday. The firm’s 50 day simple moving average is $119.72 and its 200 day simple moving average is $162.43. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 3.58. The firm has a market capitalization of $16.26 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.71 and a beta of 0.73. Charter Communications, Inc. has a 1-year low of $101.11 and a 1-year high of $254.11.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, November 6th. The company reported ($20.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $8.94 by ($29.44). Charter Communications had a return on equity of 27.11% and a net margin of 2.50%. The firm had revenue of $14.92 billion during the quarter, compared to analysts’ expectations of $13.50 billion. During the same quarter in the prior year, the company earned $8.34 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, analysts expect that Charter Communications, Inc. will post 35.30 earnings per share for the current fiscal year.

About Charter Communications

Charter Communications, Inc. provides broadband, video, voice and mobile services in the United States, primarily under its Spectrum brand. Its residential offerings include high-speed internet, television and home phone services, while its business services include connectivity, communications and managed solutions for organizations. The company also offers Spectrum Mobile, a wireless service that complements its broadband business. Charter serves customers across a broad U.S. footprint, including communities where it provides services over its cable network.