Fernbridge Capital Management LP Makes New $48.20 Million Investment in Charter Communications, Inc. (NASDAQ:CHTR)

Fernbridge Capital Management LP acquired a new stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 148,729 shares of the company’s stock, valued at approximately $48,200,000. Charter Communications makes up 3.0% of Fernbridge Capital Management LP’s investment portfolio, making the stock its 9th largest position.

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

Charter Communications Trading Up 1.5 %

Shares of NASDAQ:CHTR opened at $390.29 on Wednesday. The stock has a market cap of $55.50 billion, a PE ratio of 12.22, a P/E/G ratio of 0.61 and a beta of 1.03. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 5.24. Charter Communications, Inc. has a 12-month low of $236.08 and a 12-month high of $415.27. The business has a 50 day moving average of $349.95 and a 200-day moving average of $327.49.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, November 1st. The company reported $8.82 earnings per share 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 analysts’ expectations of $13.66 billion. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $8.25 EPS. As a group, equities research analysts forecast that Charter Communications, Inc. will post 32.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CHTR shares. Citigroup upgraded shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price objective on the stock in a report on Wednesday, September 11th. Benchmark boosted their price target on shares of Charter Communications from $440.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Pivotal Research raised their price objective on Charter Communications from $435.00 to $525.00 and gave the company a “buy” rating in a report on Monday, November 4th. BNP Paribas upgraded Charter Communications from an “underperform” rating to a “neutral” rating and set a $360.00 target price on the stock in a report on Tuesday. Finally, Wolfe Research lowered Charter Communications from a “peer perform” rating to an “underperform” rating and set a $300.00 price target on the stock. in a research report on Monday, September 30th. Four equities research analysts have 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, Charter Communications currently has an average rating of “Hold” and an average target price of $378.00.

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.