South Dakota Investment Council grew its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR – Free Report) by 14.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,428 shares of the company’s stock after buying an additional 10,291 shares during the quarter. South Dakota Investment Council’s holdings in Charter Communications were worth $17,147,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of CHTR. Cassaday & Co Wealth Management LLC bought a new position in shares of Charter Communications in the 1st quarter valued at $25,000. Quarry LP grew its position in Charter Communications by 153.2% during the 4th quarter. Quarry LP now owns 119 shares of the company’s stock worth $25,000 after acquiring an additional 72 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in Charter Communications in the 4th quarter worth about $25,000. DV Equities LLC acquired a new position in Charter Communications in the 4th quarter worth about $25,000. Finally, Geneos Wealth Management Inc. raised its position in Charter Communications by 141.0% in the first 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 last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CHTR has been the topic of a number of recent research reports. TD Cowen cut their price target on Charter Communications from $413.00 to $380.00 and set a “buy” rating on the stock in a research note on Monday. Barclays dropped their price objective on shares of Charter Communications from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Monday. UBS Group cut their target price on shares of Charter Communications from $235.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday. Bank of America reissued a “buy” rating on shares of Charter Communications in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Charter Communications from $200.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $226.88.
Charter Communications Trading Up 3.7%
NASDAQ CHTR opened at $145.20 on Thursday. The business’s 50-day moving average price is $135.79 and its two-hundred day moving average price is $182.35. Charter Communications, Inc. has a 12 month low of $111.55 and a 12 month high of $285.96. The firm has a market capitalization of $17.86 billion, a PE ratio of 3.77, a price-to-earnings-growth ratio of 0.22 and a beta of 0.71. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 4.32.
Charter Communications (NASDAQ:CHTR – Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The company had revenue of $13.53 billion during the quarter, compared to the consensus estimate of $13.51 billion. During the same period last year, the company earned $9.18 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, analysts expect that Charter Communications, Inc. will post 42.65 EPS for the current year.
Insider Activity at Charter Communications
In other news, Director Mauricio Ramos purchased 9,929 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were purchased at an average price of $140.93 per share, for a total transaction of $1,399,293.97. Following the transaction, the director owned 19,309 shares of the company’s stock, valued at approximately $2,721,217.37. This trade represents a 105.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas Rutledge sold 18,200 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the completion of the sale, the director directly owned 3,968 shares in the company, valued at approximately $583,057.92. This represents a 82.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.
Charter Communications News Roundup
Here are the key news stories impacting Charter Communications this week:
- Positive Sentiment: Citi maintained its Buy rating and set a $180 price target, implying meaningful potential upside from recent trading levels despite reducing its previous target. Citi Sticks to Their Buy Rating for Charter Communications
- Positive Sentiment: Charter recently exceeded quarterly EPS expectations, reporting $10.66 versus a $9.98 consensus estimate. Revenue was roughly in line with forecasts, which may be helping support the shares.
- Neutral Sentiment: JPMorgan lowered its price target from $200 to $150 and changed its rating to Neutral. The revised target still represents modest upside, but the downgrade signals limited near-term conviction. JPMorgan Lowers Charter Communications Price Target
- Neutral Sentiment: RBC Capital Markets assigned Charter a Hold rating, adding to the cautious analyst tone. RBC Capital Gives Charter Communications a Hold Rating
- Negative Sentiment: Wells Fargo lowered its expectations for Charter, while TD Cowen also reduced its price target to $380. These revisions reinforce concerns about the company’s outlook, even though TD Cowen’s target remains well above the current share price. Wells Fargo Lowers Expectations for Charter Communications TD Cowen Lowers Charter Communications Price Target
- Negative Sentiment: Analyst commentary is also highlighting a potential broadband test, including pressure from subscriber trends and competition. Charter’s high leverage and year-over-year revenue decline add to the investment risks. Charter Communications Faces a Broadband Test
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.
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