Beck Bode LLC Acquires New Stake in Charter Communications, Inc. $CHTR

Key Points

• Beck Bode LLC acquired 2,343 shares of Charter Communications, valued at approximately $863,000, marking a new position in the company.
• Institutional investors now own 81.76% of Charter Communications, with several firms adjusting their stakes recently, including increases by Private Trust Co. NA and Wealth Enhancement Advisory Services LLC.
• The company reported $9.18 earnings per share for the last quarter, missing estimates, while its revenue increased by 0.6% year-over-year.

Beck Bode LLC acquired a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,343 shares of the company's stock, valued at approximately $863,000.

Several other institutional investors and hedge funds have also bought and sold shares of CHTR. Vanguard Group Inc. raised its stake in Charter Communications by 1.5% during the first quarter. Vanguard Group Inc. now owns 8,191,760 shares of the company's stock worth $3,018,909,000 after acquiring an additional 120,303 shares in the last quarter. JPMorgan Chase & Co. increased its position in Charter Communications by 53.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock valued at $851,331,000 after purchasing an additional 806,145 shares during the period. Invesco Ltd. increased its position in Charter Communications by 7.0% during the 1st quarter. Invesco Ltd. now owns 1,834,807 shares of the company's stock valued at $676,181,000 after purchasing an additional 120,624 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charter Communications by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,283,315 shares of the company's stock worth $472,941,000 after buying an additional 19,594 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Charter Communications by 22.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company's stock worth $405,118,000 after buying an additional 198,444 shares in the last quarter. Institutional investors own 81.76% of the company's stock.

Insiders Place Their Bets

In other news, Director Balan Nair acquired 360 shares of Charter Communications stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the transaction, the director owned 9,622 shares in the company, valued at $2,638,448.62. The trade was a 3.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher L. Winfrey acquired 3,670 shares of Charter Communications stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the transaction, the chief executive officer owned 70,243 shares of the company's stock, valued at $19,183,363.30. The trade was a 5.51% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.83% of the company's stock.

Analyst Upgrades and Downgrades

CHTR has been the topic of a number of recent research reports. Raymond James Financial upgraded Charter Communications from an "underperform" rating to a "market perform" rating in a report on Monday, May 19th. Royal Bank Of Canada decreased their target price on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating for the company in a research report on Monday, July 28th. Wells Fargo & Company started coverage on Charter Communications in a research report on Thursday, August 21st. They set an "equal weight" rating and a $300.00 target price for the company. Barclays decreased their price objective on Charter Communications from $341.00 to $275.00 and set an "underweight" rating for the company in a report on Monday, July 28th. Finally, Loop Capital raised Charter Communications from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $430.00 to $510.00 in a report on Monday, May 19th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $404.71.

Charter Communications Trading Up 0.7%

Charter Communications stock traded up $1.95 during trading hours on Friday, reaching $265.58. The company had a trading volume of 1,707,578 shares, compared to its average volume of 1,961,713. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. Charter Communications, Inc. has a 12-month low of $254.67 and a 12-month high of $437.06. The firm has a market cap of $36.28 billion, a price-to-earnings ratio of 7.27, a P/E/G ratio of 0.60 and a beta of 1.02. The company has a 50-day moving average price of $331.68 and a 200 day moving average price of $359.17.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.76 billion. During the same quarter in the prior year, the firm earned $8.49 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

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.