Rafferty Asset Management LLC Buys 15,970 Shares of Charter Communications, Inc. $CHTR

Rafferty Asset Management LLC increased its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 41.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,538 shares of the company’s stock after buying an additional 15,970 shares during the period. Rafferty Asset Management LLC’s holdings in Charter Communications were worth $15,004,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHTR. Vanguard Group Inc. increased its stake in shares of Charter Communications by 13.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock worth $2,575,630,000 after purchasing an additional 1,130,648 shares during the last quarter. State Street Corp grew its holdings in Charter Communications by 3.2% during the second quarter. State Street Corp now owns 6,486,312 shares of the company’s stock valued at $2,651,669,000 after purchasing an additional 198,979 shares during the period. Norges Bank purchased a new stake in Charter Communications in the second quarter worth $1,145,387,000. Geode Capital Management LLC increased its position in Charter Communications by 1.6% in the second quarter. Geode Capital Management LLC now owns 2,595,167 shares of the company’s stock worth $1,056,800,000 after buying an additional 41,206 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Charter Communications by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 2,288,208 shares of the company’s stock valued at $629,498,000 after buying an additional 42,499 shares during the period. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CHTR shares. Williams Trading set a $437.00 price objective on Charter Communications in a report on Monday, February 2nd. UBS Group set a $425.00 target price on shares of Charter Communications in a research note on Thursday, January 29th. Royal Bank Of Canada lowered their price target on shares of Charter Communications from $265.00 to $240.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. BNP Paribas Exane cut their price objective on shares of Charter Communications from $160.00 to $150.00 and set an “underperform” rating for the company in a report on Tuesday, February 24th. Finally, Zacks Research raised shares of Charter Communications from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $335.11.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $234.63 on Friday. The company has a 50 day moving average of $213.12 and a 200 day moving average of $231.60. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 4.65. The stock has a market cap of $29.71 billion, a P/E ratio of 6.47, a P/E/G ratio of 0.37 and a beta of 1.05. Charter Communications, Inc. has a 12 month low of $180.38 and a 12 month high of $437.06.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, January 30th. The company reported $10.34 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $13.73 billion. During the same period in the previous year, the business earned $10.10 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

About Charter Communications

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.