Fernbridge Capital Management LP Takes $48.20 Million Position in Charter Communications, Inc. (NASDAQ:CHTR)

Fernbridge Capital Management LP bought a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 148,729 shares of the company’s stock, valued at approximately $48,200,000. Charter Communications comprises 3.0% of Fernbridge Capital Management LP’s holdings, making the stock its 9th biggest position. Fernbridge Capital Management LP owned about 0.10% of Charter Communications at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC boosted its position in Charter Communications by 27.0% during the first quarter. Tidal Investments LLC now owns 12,279 shares of the company’s stock worth $3,572,000 after purchasing an additional 2,613 shares during the period. Plato Investment Management Ltd boosted its holdings in Charter Communications by 373.5% during the first quarter. Plato Investment Management Ltd now owns 1,037 shares of the company’s stock valued at $301,000 after acquiring an additional 818 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of Charter Communications in the first quarter worth about $34,000. Swedbank AB acquired a new position in shares of Charter Communications during the 1st quarter worth about $11,147,000. Finally, Cetera Investment Advisers boosted its stake in Charter Communications by 432.3% during the 1st quarter. Cetera Investment Advisers now owns 7,399 shares of the company’s stock valued at $2,150,000 after purchasing an additional 6,009 shares during the period. 81.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CHTR has been the topic of several recent analyst reports. Wolfe Research downgraded 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. Barclays boosted their target price on shares of Charter Communications from $300.00 to $315.00 and gave the stock an “underweight” rating in a research report on Monday, November 4th. Bank of America raised shares of Charter Communications from a “neutral” rating to a “buy” rating and increased their price target for the company from $385.00 to $450.00 in a report on Monday, November 4th. Benchmark upped their price objective on shares of Charter Communications from $440.00 to $450.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley lifted their target price on Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Charter Communications currently has a consensus rating of “Hold” and an average price target of $378.00.

Charter Communications Stock Performance

Shares of Charter Communications stock opened at $390.29 on Wednesday. Charter Communications, Inc. has a 52 week low of $236.08 and a 52 week high of $415.27. The company has a debt-to-equity ratio of 5.24, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market capitalization of $55.50 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.61 and a beta of 1.03. The firm has a fifty day moving average of $349.95 and a two-hundred day moving average of $327.49.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, November 1st. The company reported $8.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $8.25 earnings per share. As a group, equities research analysts predict that Charter Communications, Inc. will post 32.87 EPS for the current year.

Charter Communications 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.