Charter Communications (NASDAQ:CHTR) Shares Gap Up – Here’s Why

Charter Communications, Inc. (NASDAQ:CHTR) gapped up before the market opened on Friday . The stock had previously closed at $327.61, but opened at $360.61. Charter Communications shares last traded at $374.87, with a volume of 1,323,657 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CHTR shares. Citigroup raised shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price objective for the company in a report on Wednesday, September 11th. Bank of America increased their price objective on shares of Charter Communications from $360.00 to $385.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Wolfe Research cut Charter Communications from a “peer perform” rating to an “underperform” rating and set a $300.00 target price on the stock. in a report on Monday, September 30th. Pivotal Research increased their price target on Charter Communications from $400.00 to $435.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada began coverage on Charter Communications in a research note on Thursday, September 19th. They issued a “sector perform” rating and a $345.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charter Communications has an average rating of “Hold” and an average price target of $356.41.

Charter Communications Stock Up 12.7 %

The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 5.84. The stock has a market capitalization of $52.71 billion, a PE ratio of 11.98, a P/E/G ratio of 0.60 and a beta of 1.05. The stock’s fifty day simple moving average is $332.71 and its 200-day simple moving average is $310.85.

Hedge Funds Weigh In On Charter Communications

Large investors have recently made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of Charter Communications by 50.8% in the first quarter. Bessemer Group Inc. now owns 9,147 shares of the company’s stock worth $2,658,000 after buying an additional 3,080 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Charter Communications in the 2nd quarter valued at about $7,171,000. FORA Capital LLC boosted its position in shares of Charter Communications by 45.8% during the 1st quarter. FORA Capital LLC now owns 20,743 shares of the company’s stock valued at $6,029,000 after acquiring an additional 6,519 shares during the last quarter. Norden Group LLC purchased a new position in shares of Charter Communications during the first quarter worth about $828,000. Finally, Cetera Investment Advisers increased its position in shares of Charter Communications by 432.3% in the first quarter. Cetera Investment Advisers now owns 7,399 shares of the company’s stock worth $2,150,000 after purchasing an additional 6,009 shares during the last quarter. 81.76% of the stock is owned by institutional investors.

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; 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.