Prestige Wealth Management Group LLC Purchases 201 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Prestige Wealth Management Group LLC boosted its position in Charter Communications, Inc. (NASDAQ:CHTR) by 15.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,532 shares of the company’s stock after purchasing an additional 201 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Charter Communications were worth $458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CVA Family Office LLC grew its stake in shares of Charter Communications by 5,500.0% in the 2nd quarter. CVA Family Office LLC now owns 112 shares of the company’s stock worth $33,000 after buying an additional 110 shares during the last quarter. New Covenant Trust Company N.A. bought a new position in Charter Communications in the 1st quarter worth about $34,000. Riverview Trust Co purchased a new stake in Charter Communications during the 1st quarter valued at about $40,000. Cullen Frost Bankers Inc. increased its stake in Charter Communications by 769.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 113 shares of the company’s stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Charter Communications by 109.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 159 shares of the company’s stock valued at $48,000 after purchasing an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CHTR shares. Raymond James cut shares of Charter Communications from a “market perform” rating to an “underperform” rating in a report on Monday, July 29th. Wolfe Research downgraded Charter Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 31st. TD Cowen lifted their price objective on Charter Communications from $488.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Charter Communications from $300.00 to $385.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charter Communications from $300.00 to $325.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $360.93.

Charter Communications Stock Performance

Shares of CHTR stock traded down $3.35 during trading hours on Friday, reaching $327.43. 1,208,437 shares of the company traded hands, compared to its average volume of 1,403,458. The firm has a 50-day moving average price of $337.98 and a 200 day moving average price of $299.25. The company has a market cap of $47.16 billion, a P/E ratio of 10.59, a P/E/G ratio of 0.64 and a beta of 1.05. Charter Communications, Inc. has a 12-month low of $236.08 and a 12-month high of $458.30. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.39 and a quick ratio of 0.39.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share for the quarter, beating the consensus estimate of $7.98 by $0.51. The business had revenue of $13.69 billion for the quarter, compared to the consensus estimate of $13.59 billion. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.05 earnings per share. As a group, sell-side analysts predict that Charter Communications, Inc. will post 32.52 earnings per share for the current fiscal 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.