Slate Path Capital LP Increases Stock Holdings in Charter Communications, Inc. (NASDAQ:CHTR)

Slate Path Capital LP increased its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 54.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,571 shares of the company’s stock after purchasing an additional 136,000 shares during the quarter. Charter Communications makes up 6.5% of Slate Path Capital LP’s holdings, making the stock its 4th largest position. Slate Path Capital LP owned 0.25% of Charter Communications worth $137,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Colonial Trust Co SC raised its position in Charter Communications by 111.1% during the first quarter. Colonial Trust Co SC now owns 76 shares of the company’s stock valued at $27,000 after acquiring an additional 40 shares in the last quarter. AM Squared Ltd purchased a new position in Charter Communications during the fourth quarter worth approximately $34,000. Elequin Securities LLC boosted its position in Charter Communications by 536.8% during the fourth quarter. Elequin Securities LLC now owns 121 shares of the company’s stock worth $41,000 after acquiring an additional 102 shares during the last quarter. Ellevest Inc. raised its holdings in Charter Communications by 54.1% in the 1st quarter. Ellevest Inc. now owns 114 shares of the company’s stock valued at $41,000 after acquiring an additional 40 shares during the last quarter. Finally, AXS Investments LLC acquired a new position in shares of Charter Communications during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 93.84% of the company’s stock.

Insiders Place Their Bets

In other Charter Communications news, Director Craig A. Jacobson sold 2,104 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $418.16, for a total value of $879,808.64. Following the completion of the transaction, the director now owns 10,249 shares in the company, valued at $4,285,721.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.32% of the stock is owned by corporate insiders.

Charter Communications Stock Up 0.9 %

Charter Communications stock traded up $4.02 during trading on Tuesday, reaching $439.86. The stock had a trading volume of 516,123 shares, compared to its average volume of 1,167,391. Charter Communications, Inc. has a 52-week low of $297.66 and a 52-week high of $452.25. The business has a 50 day moving average price of $408.24 and a 200 day moving average price of $367.00. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 6.84. The stock has a market cap of $65.83 billion, a PE ratio of 14.75, a P/E/G ratio of 0.69 and a beta of 1.12.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, July 28th. The company reported $8.05 earnings per share for the quarter, beating analysts’ consensus estimates of $7.66 by $0.39. The company had revenue of $13.66 billion for the quarter, compared to analysts’ expectations of $13.84 billion. Charter Communications had a return on equity of 35.69% and a net margin of 8.48%. Charter Communications’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the firm earned $8.80 earnings per share. On average, analysts predict that Charter Communications, Inc. will post 31.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Loop Capital boosted their price objective on Charter Communications from $390.00 to $405.00 and gave the stock a “hold” rating in a research note on Monday, July 31st. Bank of America lifted their target price on shares of Charter Communications from $425.00 to $450.00 and gave the stock a “neutral” rating in a research note on Monday, July 31st. Rosenblatt Securities lifted their price target on shares of Charter Communications from $477.00 to $482.00 and gave the company a “buy” rating in a research report on Tuesday. Benchmark reiterated a “buy” rating and issued a $575.00 price objective on shares of Charter Communications in a research report on Tuesday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $460.00 price target on shares of Charter Communications in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $499.64.

About Charter Communications

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; security suite that protects computers from viruses and spyware, and threats from malicious actors; 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.