Westpac Banking Corp Has $16.28 Million Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

Westpac Banking Corp reduced its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTRGet Rating) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,975 shares of the company’s stock after selling 3,071 shares during the quarter. Westpac Banking Corp’s holdings in Charter Communications were worth $16,283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blume Capital Management Inc. bought a new position in shares of Charter Communications during the fourth quarter valued at about $26,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in Charter Communications in the third quarter worth about $29,000. Bell Investment Advisors Inc bought a new stake in Charter Communications in the third quarter worth about $34,000. Magnolia Capital Management Ltd. bought a new stake in Charter Communications in the fourth quarter worth about $39,000. Finally, Cranbrook Wealth Management LLC raised its position in Charter Communications by 35.7% in the third quarter. Cranbrook Wealth Management LLC now owns 57 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

In other news, COO Christopher L. Winfrey bought 2,750 shares of Charter Communications stock in a transaction on Tuesday, February 1st. The shares were purchased at an average price of $591.96 per share, for a total transaction of $1,627,890.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.96% of the stock is owned by insiders.

NASDAQ CHTR opened at $428.49 on Friday. Charter Communications, Inc. has a 1-year low of $415.01 and a 1-year high of $825.62. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 4.88. The stock has a 50-day moving average of $553.75 and a 200-day moving average of $614.10. The firm has a market cap of $74.02 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 0.52 and a beta of 0.94.

Charter Communications (NASDAQ:CHTRGet Rating) last announced its quarterly earnings results on Friday, April 29th. The company reported $6.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.51 by $0.39. Charter Communications had a return on equity of 20.47% and a net margin of 9.01%. The company had revenue of $13.20 billion for the quarter, compared to the consensus estimate of $13.21 billion. During the same quarter in the previous year, the business earned $4.11 EPS. Charter Communications’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Charter Communications, Inc. will post 29.94 earnings per share for the current fiscal year.

Several analysts have commented on the stock. Royal Bank of Canada raised shares of Charter Communications from a “sector perform” rating to an “outperform” rating and lowered their price objective for the stock from $770.00 to $690.00 in a research report on Monday, January 24th. Exane BNP Paribas lowered shares of Charter Communications from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 18th. Loop Capital lowered their price objective on shares of Charter Communications from $730.00 to $615.00 in a research report on Wednesday, January 26th. KeyCorp lowered their price target on shares of Charter Communications from $847.00 to $792.00 and set an “overweight” rating on the stock in a research report on Monday, January 31st. Finally, Morgan Stanley lowered their price target on shares of Charter Communications from $680.00 to $620.00 and set an “equal weight” rating on the stock in a research report on Friday, April 8th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $745.72.

Charter Communications Profile (Get Rating)

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 video services, including video on demand, high-definition television, digital video recorder, pay-per-view services.

Further Reading

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Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

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