Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in Charter Communications, Inc. $CHTR

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 642.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,781 shares of the company’s stock after acquiring an additional 12,791 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Charter Communications were worth $6,043,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CHTR. SouthState Corp acquired a new position in Charter Communications during the first quarter worth about $25,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Charter Communications in the second quarter valued at approximately $25,000. Salem Investment Counselors Inc. increased its stake in shares of Charter Communications by 2,033.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock worth $26,000 after purchasing an additional 61 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Charter Communications during the 2nd quarter worth approximately $28,000. Finally, SBI Securities Co. Ltd. lifted its stake in Charter Communications by 93.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 85 shares of the company’s stock valued at $31,000 after buying an additional 41 shares in the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Charter Communications Trading Up 1.8%

CHTR stock opened at $213.07 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. The company has a market cap of $27.57 billion, a price-to-earnings ratio of 5.83, a PEG ratio of 0.55 and a beta of 1.04. The business has a fifty day simple moving average of $254.04 and a 200-day simple moving average of $321.73. Charter Communications, Inc. has a 52 week low of $207.75 and a 52 week high of $437.06.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, October 31st. The company reported $8.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). The firm had revenue of $13.67 billion for the quarter, compared to analysts’ expectations of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. Charter Communications’s revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $8.82 EPS. On average, equities research analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current year.

Insider Activity

In related news, Director David C. Merritt sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total transaction of $271,416.00. Following the completion of the sale, the director owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. This represents a 10.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. KeyCorp reissued a “sector weight” rating on shares of Charter Communications in a research report on Monday, November 3rd. Oppenheimer downgraded Charter Communications from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 4th. Citigroup dropped their price objective on Charter Communications from $325.00 to $310.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Barclays cut their target price on shares of Charter Communications from $275.00 to $200.00 and set an “underweight” rating for the company in a research note on Monday, November 3rd. Finally, Bank of America decreased their price target on shares of Charter Communications from $440.00 to $355.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $329.56.

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.