Commerce Bank Reduces Position in Charter Communications, Inc. (NASDAQ:CHTR)

Commerce Bank decreased its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,058 shares of the company’s stock after selling 270 shares during the quarter. Commerce Bank’s holdings in Charter Communications were worth $1,639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CHTR. Reston Wealth Management LLC purchased a new position in shares of Charter Communications during the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in Charter Communications during the 3rd quarter valued at $28,000. CVA Family Office LLC lifted its holdings in shares of Charter Communications by 5,500.0% during the 2nd quarter. CVA Family Office LLC now owns 112 shares of the company’s stock valued at $33,000 after buying an additional 110 shares during the period. New Covenant Trust Company N.A. purchased a new position in shares of Charter Communications in the 1st quarter worth $34,000. Finally, Grove Bank & Trust grew its holdings in shares of Charter Communications by 39.1% in the third quarter. Grove Bank & Trust now owns 121 shares of the company’s stock worth $39,000 after acquiring an additional 34 shares during the period. Institutional investors own 81.76% of the company’s stock.

Charter Communications Stock Up 1.2 %

Shares of CHTR opened at $388.27 on Friday. Charter Communications, Inc. has a 12-month low of $236.08 and a 12-month high of $415.27. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.24. The company has a market capitalization of $55.21 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.61 and a beta of 1.03. The business’s 50 day moving average is $348.11 and its 200 day moving average is $325.46.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, November 1st. The company reported $8.82 EPS for the quarter, topping the consensus estimate of $8.55 by $0.27. The firm had revenue of $13.80 billion for the quarter, compared to the consensus estimate of $13.66 billion. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.25 earnings per share. Research analysts expect that Charter Communications, Inc. will post 32.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company increased their target price on Charter Communications from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of Charter Communications from $385.00 to $400.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Citigroup raised shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 target price for the company in a report on Wednesday, September 11th. TD Cowen lifted their price target on shares of Charter Communications from $488.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Bank of America upgraded Charter Communications from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $385.00 to $450.00 in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Charter Communications has a consensus rating of “Hold” and an average price target of $379.06.

Charter Communications Company Profile

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.