Meridiem Capital Partners LP Makes New $8.91 Million Investment in Charter Communications, Inc. $CHTR

Meridiem Capital Partners LP purchased a new position in Charter Communications, Inc. (NASDAQ:CHTR) in the third quarter, HoldingsChannel reports. The firm purchased 32,402 shares of the company’s stock, valued at approximately $8,914,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Charter Communications by 129.1% during the first quarter. AQR Capital Management LLC now owns 11,875 shares of the company’s stock worth $4,356,000 after purchasing an additional 6,691 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Charter Communications by 16.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company’s stock valued at $336,000 after purchasing an additional 128 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Charter Communications by 48.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company’s stock valued at $493,000 after purchasing an additional 435 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after purchasing an additional 55 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Charter Communications by 451.1% in the 1st quarter. Acadian Asset Management LLC now owns 733 shares of the company’s stock worth $270,000 after buying an additional 600 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

Charter Communications Trading Up 1.2%

Shares of NASDAQ:CHTR traded up $2.50 during midday trading on Friday, reaching $217.58. The company had a trading volume of 90,838 shares, compared to its average volume of 1,991,771. The company has a fifty day simple moving average of $216.47 and a two-hundred day simple moving average of $229.24. The firm has a market cap of $27.55 billion, a price-to-earnings ratio of 6.00, a price-to-earnings-growth ratio of 0.35 and a beta of 1.02. Charter Communications, Inc. has a 1-year low of $180.38 and a 1-year high of $437.06. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.39 and a current ratio of 0.39.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. New Street Research decreased their target price on Charter Communications from $479.00 to $328.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. TD Cowen lifted their price objective on shares of Charter Communications from $428.00 to $437.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Benchmark increased their target price on shares of Charter Communications from $425.00 to $455.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. KeyCorp restated a “sector weight” rating on shares of Charter Communications in a report on Monday, January 26th. Finally, Zacks Research upgraded shares of Charter Communications from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $335.11.

Charter Communications 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.