Mount Capital Ltd lifted its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR – Free Report) by 10.5% during the 4th quarter, HoldingsChannel reports. The fund owned 98,661 shares of the company’s stock after acquiring an additional 9,400 shares during the period. Charter Communications accounts for 8.3% of Mount Capital Ltd’s portfolio, making the stock its 5th largest position. Mount Capital Ltd’s holdings in Charter Communications were worth $20,595,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of CHTR. Norges Bank purchased a new position in shares of Charter Communications during the 4th quarter worth about $555,383,000. First Eagle Investment Management LLC lifted its holdings in shares of Charter Communications by 119.6% during the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock worth $619,885,000 after acquiring an additional 1,617,148 shares during the period. State Street Corp lifted its holdings in shares of Charter Communications by 22.7% during the 3rd quarter. State Street Corp now owns 7,961,695 shares of the company’s stock worth $2,190,302,000 after acquiring an additional 1,475,383 shares during the period. Capital Research Global Investors purchased a new position in Charter Communications in the third quarter valued at approximately $327,179,000. Finally, Vanguard Group Inc. raised its holdings in Charter Communications by 13.7% in the third quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock valued at $2,575,630,000 after buying an additional 1,130,648 shares during the period. 81.76% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently commented on CHTR. Zacks Research upgraded shares of Charter Communications from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Royal Bank Of Canada cut their price target on shares of Charter Communications from $250.00 to $220.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Charter Communications from $235.00 to $215.00 and set a “hold” rating on the stock in a report on Monday, April 27th. JPMorgan Chase & Co. began coverage on shares of Charter Communications in a report on Wednesday, April 29th. They issued a “neutral” rating and a $215.00 price target on the stock. Finally, Benchmark cut their price target on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $290.38.
Insider Activity at Charter Communications
In other news, CEO Christopher L. Winfrey acquired 3,468 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were bought at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the completion of the purchase, the chief executive officer directly owned 74,409 shares of the company’s stock, valued at approximately $12,815,462.07. This trade represents a 4.89% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Wade Davis acquired 5,728 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were purchased at an average price of $173.72 per share, for a total transaction of $995,068.16. Following the purchase, the director directly owned 6,925 shares of the company’s stock, valued at approximately $1,203,011. This trade represents a 478.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 20,125 shares of company stock valued at $3,167,116. 1.10% of the stock is currently owned by corporate insiders.
Charter Communications Trading Up 2.4%
CHTR opened at $132.12 on Friday. The firm has a market capitalization of $16.25 billion, a P/E ratio of 3.57, a P/E/G ratio of 0.22 and a beta of 0.71. The firm’s 50 day moving average is $181.51 and its 200-day moving average is $201.34. Charter Communications, Inc. has a 52-week low of $126.70 and a 52-week high of $422.29. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56.
Charter Communications (NASDAQ:CHTR – Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.42 EPS. Analysts expect that Charter Communications, Inc. will post 43 EPS for the current fiscal year.
Charter Communications Company 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.
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