Marshall Wace LLP Acquires New Holdings in Charter Communications Inc (CHTR)
Marshall Wace LLP acquired a new position in Charter Communications Inc (NASDAQ:CHTR) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 222,935 shares of the company’s stock, valued at approximately $72,650,000. Charter Communications accounts for approximately 0.6% of Marshall Wace LLP’s portfolio, making the stock its 23rd largest holding. Marshall Wace LLP owned approximately 0.10% of Charter Communications at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CHTR. Advisory Services Network LLC grew its stake in shares of Charter Communications by 76.3% in the 2nd quarter. Advisory Services Network LLC now owns 543 shares of the company’s stock worth $156,000 after purchasing an additional 235 shares during the last quarter. Dupont Capital Management Corp grew its stake in shares of Charter Communications by 58.4% in the 2nd quarter. Dupont Capital Management Corp now owns 2,419 shares of the company’s stock worth $709,000 after purchasing an additional 892 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Charter Communications by 54.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,420 shares of the company’s stock worth $3,935,000 after purchasing an additional 4,750 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Charter Communications by 30.4% in the 2nd quarter. First Trust Advisors LP now owns 57,741 shares of the company’s stock worth $16,930,000 after purchasing an additional 13,461 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Charter Communications by 8.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,409 shares of the company’s stock worth $3,052,000 after purchasing an additional 800 shares during the last quarter. 71.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of CHTR stock traded up $4.94 during trading on Thursday, hitting $326.78. 1,275,900 shares of the company were exchanged, compared to its average volume of 1,560,897. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a market cap of $73.67 billion, a P/E ratio of 123.31, a P/E/G ratio of 1.52 and a beta of 1.16. Charter Communications Inc has a twelve month low of $250.10 and a twelve month high of $396.64.
CHTR has been the topic of several recent research reports. BidaskClub raised shares of Charter Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. ValuEngine upgraded shares of Charter Communications from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Macquarie reiterated a “buy” rating and issued a $355.00 target price on shares of Charter Communications in a report on Wednesday, September 12th. Zacks Investment Research cut shares of Charter Communications from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Finally, Barclays set a $259.00 target price on shares of Charter Communications and gave the stock a “sell” rating in a report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Charter Communications currently has an average rating of “Buy” and an average target price of $360.13.
In related news, insider John Bickham sold 144,672 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $322.71, for a total transaction of $46,687,101.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.83% of the company’s stock.
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About Charter Communications
Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.
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