East Coast Asset Management LLC. Has $27.58 Million Stake in Charter Communications Inc (CHTR)
East Coast Asset Management LLC. lifted its position in Charter Communications Inc (NASDAQ:CHTR) by 83.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 94,069 shares of the company’s stock after buying an additional 42,840 shares during the period. Charter Communications makes up 7.6% of East Coast Asset Management LLC.’s holdings, making the stock its 4th largest position. East Coast Asset Management LLC.’s holdings in Charter Communications were worth $27,582,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gluskin Sheff & Assoc Inc. raised its position in shares of Charter Communications by 7.0% during the first quarter. Gluskin Sheff & Assoc Inc. now owns 122,073 shares of the company’s stock worth $37,992,000 after purchasing an additional 8,024 shares during the period. Roundview Capital LLC raised its position in shares of Charter Communications by 44.9% during the first quarter. Roundview Capital LLC now owns 3,838 shares of the company’s stock worth $1,194,000 after purchasing an additional 1,190 shares during the period. Calamos Advisors LLC raised its position in shares of Charter Communications by 13.4% during the second quarter. Calamos Advisors LLC now owns 18,046 shares of the company’s stock worth $5,291,000 after purchasing an additional 2,133 shares during the period. TD Asset Management Inc. raised its position in shares of Charter Communications by 4.0% during the second quarter. TD Asset Management Inc. now owns 99,613 shares of the company’s stock worth $29,208,000 after purchasing an additional 3,798 shares during the period. Finally, Arnhold LLC acquired a new stake in shares of Charter Communications during the first quarter worth $746,000. 71.12% of the stock is currently owned by institutional investors.
NASDAQ:CHTR opened at $318.13 on Friday. The firm has a market cap of $72.46 billion, a P/E ratio of 107.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.24. Charter Communications Inc has a 1-year low of $250.10 and a 1-year high of $396.64. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.46.
In related news, EVP Richard R. Dykhouse sold 2,101 shares of the company’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $296.52, for a total transaction of $622,988.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is currently owned by insiders.
CHTR has been the topic of a number of recent analyst reports. ValuEngine lowered Charter Communications from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Credit Suisse Group initiated coverage on Charter Communications in a research report on Tuesday, July 10th. They set a “neutral” rating and a $294.00 target price on the stock. Citigroup cut their target price on Charter Communications from $410.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, August 2nd. Buckingham Research boosted their target price on Charter Communications from $397.00 to $418.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Finally, Macquarie reaffirmed a “buy” rating and set a $355.00 target price on shares of Charter Communications in a research report on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Charter Communications presently has an average rating of “Buy” and a consensus price target of $363.62.
Charter Communications Company Profile
Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.
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