Meridiem Capital Partners LP Invests $8.91 Million in Charter Communications, Inc. $CHTR

Meridiem Capital Partners LP purchased a new stake in Charter Communications, Inc. (NASDAQ:CHTR) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 32,402 shares of the company’s stock, valued at approximately $8,914,000.

A number of other institutional investors have also modified their holdings of the business. Quantitative Investment Management LLC acquired a new position in Charter Communications in the third quarter valued at approximately $754,000. Invesco Ltd. raised its position in shares of Charter Communications by 30.3% during the 3rd quarter. Invesco Ltd. now owns 2,407,731 shares of the company’s stock worth $662,379,000 after purchasing an additional 559,361 shares during the period. UBS Group AG raised its position in shares of Charter Communications by 71.0% during the 3rd quarter. UBS Group AG now owns 1,615,283 shares of the company’s stock worth $444,372,000 after purchasing an additional 670,566 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Charter Communications by 571.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 99,309 shares of the company’s stock worth $27,320,000 after purchasing an additional 84,528 shares during the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of Charter Communications in the 3rd quarter worth approximately $327,179,000. Institutional investors own 81.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CHTR. Sanford C. Bernstein set a $220.00 price objective on Charter Communications in a research note on Wednesday, January 28th. Benchmark raised their target price on Charter Communications from $425.00 to $455.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. The Goldman Sachs Group reduced their price target on shares of Charter Communications from $210.00 to $185.00 and set a “sell” rating for the company in a report on Monday, February 2nd. TD Cowen increased their price objective on shares of Charter Communications from $428.00 to $437.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Royal Bank Of Canada cut their price objective on shares of Charter Communications from $265.00 to $240.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $335.11.

Charter Communications Stock Performance

CHTR traded up $2.50 during trading hours on Friday, hitting $217.58. The company’s stock had a trading volume of 90,838 shares, compared to its average volume of 1,991,771. The company has a 50-day simple moving average of $216.47 and a 200 day simple moving average of $229.24. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 4.65. The firm has a market capitalization of $27.55 billion, a PE ratio of 6.00, a PEG ratio of 0.35 and a beta of 1.02. Charter Communications, Inc. has a fifty-two week low of $180.38 and a fifty-two week high of $437.06.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, January 30th. The company reported $10.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.40 by ($0.06). Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.73 billion. During the same quarter last year, the firm posted $10.10 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current year.

Charter Communications Company Profile

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.