Charter Communications, Inc. $CHTR Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System raised its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 3.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,097 shares of the company’s stock after acquiring an additional 900 shares during the quarter. State of Michigan Retirement System’s holdings in Charter Communications were worth $11,078,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CHTR. JPMorgan Chase & Co. lifted its holdings in Charter Communications by 53.6% in the first quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company’s stock valued at $851,331,000 after acquiring an additional 806,145 shares during the period. Allianz Asset Management GmbH lifted its holdings in Charter Communications by 48.8% in the second quarter. Allianz Asset Management GmbH now owns 745,271 shares of the company’s stock valued at $304,674,000 after acquiring an additional 244,324 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Charter Communications by 22.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company’s stock valued at $405,118,000 after acquiring an additional 198,444 shares during the period. Nuveen LLC acquired a new stake in Charter Communications in the first quarter valued at $71,956,000. Finally, Invesco Ltd. lifted its holdings in Charter Communications by 7.0% in the first quarter. Invesco Ltd. now owns 1,834,807 shares of the company’s stock valued at $676,181,000 after acquiring an additional 120,624 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

Analysts Set New Price Targets

CHTR has been the subject of a number of recent analyst reports. The Goldman Sachs Group started coverage on Charter Communications in a report on Tuesday, September 2nd. They issued a “sell” rating and a $223.00 target price for the company. Citigroup dropped their price target on Charter Communications from $325.00 to $310.00 and set a “buy” rating for the company in a research report on Monday. Barclays dropped their price target on Charter Communications from $275.00 to $200.00 and set an “underweight” rating for the company in a research report on Monday. Weiss Ratings restated a “hold (c-)” rating on shares of Charter Communications in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $280.00 price target (down previously from $350.00) on shares of Charter Communications in a research report on Monday. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $341.53.

Charter Communications Trading Down 5.0%

Shares of CHTR stock opened at $222.20 on Tuesday. The firm has a 50-day moving average price of $260.84 and a 200 day moving average price of $327.68. Charter Communications, Inc. has a twelve month low of $214.83 and a twelve month high of $437.06. The company has a market capitalization of $30.35 billion, a price-to-earnings ratio of 6.08, a PEG ratio of 0.55 and a beta of 1.05. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, October 31st. The company reported $8.34 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.32). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm had revenue of $13.67 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same period in the previous year, the firm posted $8.82 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal 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.