28,316 Shares in Charter Communications, Inc. $CHTR Bought by Gateway Investment Advisers LLC

Key Points

• Gateway Investment Advisers opened a new position in Charter by buying 28,316 shares (~$5.91M), while large funds including Dodge & Cox, Vanguard, State Street and Invesco also increased stakes, leaving institutional investors with 81.76% ownership.
• Charter missed quarterly EPS expectations, reporting $9.17 vs. $10.01 estimated and revenue of $13.60B (down 1% YoY); the company has a market cap of about $19.71B and a P/E of 4.33.
• Insiders added to their holdings: Director Wade Davis bought 5,728 shares and CEO Christopher Winfrey bought 3,468 shares, with insiders now owning 1.10% of the company.

Gateway Investment Advisers LLC bought a new position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 28,316 shares of the company's stock, valued at approximately $5,911,000.

Several other hedge funds also recently bought and sold shares of the company. Dodge & Cox boosted its holdings in Charter Communications by 6.1% in the 3rd quarter. Dodge & Cox now owns 11,807,549 shares of the company's stock worth $3,248,316,000 after buying an additional 681,063 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Charter Communications by 9.5% during the 4th quarter. Vanguard Group Inc. now owns 10,248,287 shares of the company's stock valued at $2,139,330,000 after purchasing an additional 885,935 shares during the last quarter. State Street Corp boosted 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 valued at $2,190,302,000 after purchasing an additional 1,475,383 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Charter Communications by 30.3% during the 3rd quarter. Invesco Ltd. now owns 2,407,731 shares of the company's stock valued at $662,379,000 after purchasing an additional 559,361 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Charter Communications by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,288,208 shares of the company's stock valued at $629,498,000 after purchasing an additional 42,499 shares during the last quarter. Institutional investors own 81.76% of the company's stock.

Charter Communications Stock Up 2.4%

Shares of NASDAQ:CHTR opened at $160.24 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications, Inc. has a 12 month low of $156.00 and a 12 month high of $437.06. The company has a 50-day moving average price of $214.85 and a 200 day moving average price of $213.88. The company has a market cap of $19.71 billion, a price-to-earnings ratio of 4.33, a PEG ratio of 0.27 and a beta of 0.76.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing analysts' consensus estimates of $10.01 by ($0.84). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.56 billion. During the same period in the previous year, the business posted $8.42 EPS. The firm's revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts predict that Charter Communications, Inc. will post 43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on CHTR shares. Sanford C. Bernstein dropped their price objective on shares of Charter Communications from $220.00 to $210.00 and set a "market perform" rating for the company in a report on Monday, April 27th. Zacks Research raised shares of Charter Communications from a "strong sell" rating to a "hold" rating in a report on Monday, February 16th. Williams Trading set a $437.00 price objective on shares of Charter Communications in a report on Monday, February 2nd. BNP Paribas Exane dropped their price objective on shares of Charter Communications from $160.00 to $150.00 and set an "underperform" rating for the company in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada dropped their price objective on shares of Charter Communications from $250.00 to $220.00 and set a "sector perform" rating for the company in a report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Charter Communications has an average rating of "Hold" and an average target price of $315.67.

Insider Activity at Charter Communications

In other news, Director Wade Davis acquired 5,728 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was acquired at an average price of $173.72 per share, with a total value of $995,068.16. Following the completion of the purchase, the director directly owned 6,925 shares in the company, valued at approximately $1,203,011. This trade represents a 478.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher L. Winfrey acquired 3,468 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was purchased at an average cost of $172.23 per share, with a total value of $597,293.64. Following the purchase, the chief executive officer owned 74,409 shares of the company's stock, valued at $12,815,462.07. The trade was a 4.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 10,196 shares of company stock valued at $1,767,822. Insiders own 1.10% of the company's stock.

About Charter Communications

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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