Ardmore Road Asset Management LP Makes New $17.14 Million Investment in Charter Communications, Inc. (NASDAQ:CHTR)

Ardmore Road Asset Management LP purchased a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,000 shares of the company’s stock, valued at approximately $17,138,000. Charter Communications comprises 2.5% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 17th biggest holding.

Other hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. raised its holdings in Charter Communications by 37.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 29 shares during the last quarter. Chemistry Wealth Management LLC lifted its stake in shares of Charter Communications by 4.8% during the fourth quarter. Chemistry Wealth Management LLC now owns 660 shares of the company’s stock worth $226,000 after purchasing an additional 30 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Charter Communications by 3.4% during the 4th quarter. Jones Financial Companies Lllp now owns 904 shares of the company’s stock valued at $310,000 after purchasing an additional 30 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Charter Communications by 5.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 622 shares of the company’s stock valued at $213,000 after purchasing an additional 34 shares in the last quarter. Finally, Keybank National Association OH increased its position in Charter Communications by 2.6% in the fourth quarter. Keybank National Association OH now owns 1,392 shares of the company’s stock worth $477,000 after buying an additional 35 shares during the period. 81.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on CHTR shares. Royal Bank of Canada raised their price target on Charter Communications from $380.00 to $385.00 and gave the company a “sector perform” rating in a report on Monday, February 3rd. StockNews.com cut Charter Communications from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Barclays raised their price objective on Charter Communications from $315.00 to $320.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. KeyCorp raised Charter Communications from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a report on Thursday, December 12th. Finally, Citigroup started coverage on Charter Communications in a research note on Friday, March 14th. They issued a “buy” rating and a $425.00 price target on the stock. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Charter Communications presently has a consensus rating of “Hold” and an average target price of $393.18.

Charter Communications Stock Up 0.6 %

NASDAQ:CHTR opened at $370.91 on Wednesday. The company has a market cap of $52.74 billion, a PE ratio of 10.61, a P/E/G ratio of 0.44 and a beta of 1.13. Charter Communications, Inc. has a one year low of $236.08 and a one year high of $415.27. The firm’s 50 day simple moving average is $360.45 and its 200 day simple moving average is $357.31. The company has a debt-to-equity ratio of 4.73, a current ratio of 0.31 and a quick ratio of 0.31.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, February 7th. The company reported $10.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.14 by $0.96. Charter Communications had a return on equity of 29.01% and a net margin of 9.23%. During the same quarter in the previous year, the business posted $7.07 EPS. On average, research analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current 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.