Amundi Cuts Stock Position in Charter Communications, Inc. $CHTR

Key Points

• Amundi's Holdings: Amundi has reduced its stake in Charter Communications by 2.7%, currently owning 280,867 shares valued at approximately $103.47 million.
• Insider Purchases: CEO Christopher L. Winfrey and Director Balan Nair recently purchased shares of Charter Communications, indicating growing confidence in the company's prospects.
• Analyst Ratings: Charter Communications has received mixed ratings from analysts; eight rate it as a Buy, eight as a Hold, and four as a Sell, with a consensus target price of $394.61.

Amundi decreased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,867 shares of the company's stock after selling 7,692 shares during the quarter. Amundi owned approximately 0.20% of Charter Communications worth $103,471,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Charter Communications by 43,296.0% in the first quarter. GAMMA Investing LLC now owns 857,938 shares of the company's stock worth $316,176,000 after acquiring an additional 855,961 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Charter Communications by 53.6% in the 1st quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock worth $851,331,000 after purchasing an additional 806,145 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Charter Communications by 22.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company's stock valued at $405,118,000 after purchasing an additional 198,444 shares in the last quarter. Nuveen LLC purchased a new position in Charter Communications during the first quarter valued at approximately $71,956,000. Finally, Allianz Asset Management GmbH raised its stake in Charter Communications by 42.2% in the first quarter. Allianz Asset Management GmbH now owns 500,947 shares of the company's stock worth $184,614,000 after buying an additional 148,569 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Raymond James Financial raised Charter Communications from an "underperform" rating to a "market perform" rating in a research report on Monday, May 19th. Oppenheimer raised shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price target for the company in a research report on Friday, May 16th. UBS Group cut their price objective on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Sanford C. Bernstein reduced their price objective on shares of Charter Communications from $380.00 to $350.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, 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. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Charter Communications has an average rating of "Hold" and an average price target of $392.94.

Charter Communications Stock Performance

Shares of CHTR traded down $1.38 during mid-day trading on Wednesday, reaching $261.97. The company had a trading volume of 1,157,434 shares, compared to its average volume of 1,517,726. The stock has a 50 day moving average of $312.13 and a two-hundred day moving average of $354.42. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. The stock has a market capitalization of $35.78 billion, a P/E ratio of 7.17, a PEG ratio of 0.59 and a beta of 1.02. Charter Communications, Inc. has a 52-week low of $251.80 and a 52-week high of $437.06.

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

Insiders Place Their Bets

In other news, Director Balan Nair purchased 360 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were 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. This represents a 3.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher L. Winfrey acquired 3,670 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was 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 approximately $19,183,363.30. This trade represents 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.

Charter Communications Company Profile

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.