First Trust Direct Indexing L.P. Grows Holdings in Charter Communications, Inc. (NASDAQ:CHTR)

First Trust Direct Indexing L.P. grew its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,643 shares of the company’s stock after purchasing an additional 109 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Charter Communications were worth $639,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pzena Investment Management LLC grew its stake in Charter Communications by 21.0% in the 3rd quarter. Pzena Investment Management LLC now owns 1,459,148 shares of the company’s stock worth $641,762,000 after acquiring an additional 253,324 shares in the last quarter. Morgan Stanley grew its stake in Charter Communications by 15.8% in the third quarter. Morgan Stanley now owns 1,186,738 shares of the company’s stock worth $521,952,000 after purchasing an additional 161,830 shares in the last quarter. Parnassus Investments LLC purchased a new position in Charter Communications during the 3rd quarter worth $508,684,000. Northern Trust Corp raised its position in Charter Communications by 2.2% during the 3rd quarter. Northern Trust Corp now owns 1,048,544 shares of the company’s stock valued at $461,171,000 after purchasing an additional 22,494 shares in the last quarter. Finally, Allen Investment Management LLC lifted its holdings in shares of Charter Communications by 25.4% in the 3rd quarter. Allen Investment Management LLC now owns 873,714 shares of the company’s stock worth $384,277,000 after buying an additional 177,224 shares during the period. 81.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price target on Charter Communications from $375.00 to $320.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Barclays reduced their price target on shares of Charter Communications from $280.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Charter Communications from $370.00 to $335.00 and set a “neutral” rating on the stock in a research note on Monday, April 1st. Citigroup reduced their price objective on shares of Charter Communications from $300.00 to $280.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Finally, Pivotal Research dropped their target price on Charter Communications from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $356.47.

Charter Communications Stock Performance

CHTR opened at $265.93 on Friday. The company has a market cap of $38.62 billion, a P/E ratio of 8.60, a price-to-earnings-growth ratio of 1.07 and a beta of 0.97. The company has a quick ratio of 0.31, a current ratio of 0.40 and a debt-to-equity ratio of 6.28. The firm’s 50-day moving average price is $277.79 and its 200-day moving average price is $341.59. Charter Communications, Inc. has a 52-week low of $236.08 and a 52-week high of $458.30.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, April 26th. The company reported $7.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.78 by ($0.23). Charter Communications had a net margin of 8.50% and a return on equity of 31.42%. The company had revenue of $13.68 billion for the quarter, compared to analyst estimates of $13.75 billion. During the same quarter in the previous year, the company posted $6.65 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Charter Communications, Inc. will post 32.02 EPS for the current fiscal year.

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.