Norges Bank Takes Position in Charter Communications, Inc. (NASDAQ:CHTR)

Norges Bank purchased a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) during the 4th quarter, Holdings Channel.com reports. The fund purchased 3,011,455 shares of the company’s stock, valued at approximately $1,032,236,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its stake in shares of Charter Communications by 104.7% during the fourth quarter. Avior Wealth Management LLC now owns 88 shares of the company’s stock valued at $30,000 after acquiring an additional 45 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Charter Communications during the 4th quarter valued at approximately $32,000. Generali Asset Management SPA SGR purchased a new stake in Charter Communications during the 4th quarter worth approximately $36,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Charter Communications in the 4th quarter valued at approximately $45,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Charter Communications during the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 81.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. KeyCorp upgraded shares of Charter Communications from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research note on Thursday, December 12th. Benchmark reissued a “buy” rating and issued a $450.00 target price on shares of Charter Communications in a research report on Friday, January 31st. StockNews.com cut shares of Charter Communications from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective on Charter Communications from $380.00 to $385.00 and gave the company a “sector perform” rating in a report on Monday, February 3rd. Finally, Citigroup started coverage on Charter Communications in a research note on Friday, March 14th. They set a “buy” rating and a $425.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six 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 $389.39.

Charter Communications Trading Down 0.7 %

Shares of Charter Communications stock opened at $382.02 on Friday. The company has a debt-to-equity ratio of 4.73, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a 50-day moving average of $359.35 and a 200-day moving average of $356.14. Charter Communications, Inc. has a 52-week low of $236.08 and a 52-week high of $415.27. The stock has a market cap of $54.32 billion, a PE ratio of 10.93, a PEG ratio of 0.44 and a beta of 1.13.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, February 7th. The company reported $10.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.14 by $0.96. Charter Communications had a net margin of 9.23% and a return on equity of 29.01%. During the same period in the prior year, the company posted $7.07 earnings per share. As a group, sell-side analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current year.

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.