Assenagon Asset Management S.A. Cuts Stock Position in Charter Communications, Inc. $CHTR

Key Points

• Assenagon Asset Management cut its Charter Communications stake by 65.5% in the first quarter, leaving it with 47,971 shares valued at about $10.4 million.
• Charter’s latest earnings missed EPS expectations, with $9.17 per share versus the $10.01 consensus, even as revenue of $13.6 billion came in roughly in line with estimates and fell 1% year over year.
• Wall Street sentiment remains cautious: analysts have a “Reduce” consensus rating on CHTR, and the stock was trading near $133.64, well below its 50-day and 200-day moving averages and its 52-week high.

Assenagon Asset Management S.A. cut its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 65.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,971 shares of the company's stock after selling 91,001 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Charter Communications were worth $10,356,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CHTR. Capital Research Global Investors raised its holdings in Charter Communications by 304.9% in the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company's stock valued at $1,005,222,000 after acquiring an additional 3,626,135 shares during the last quarter. Dodge & Cox lifted its position in Charter Communications by 23.7% during the fourth quarter. Dodge & Cox now owns 14,609,220 shares of the company's stock worth $3,049,675,000 after buying an additional 2,801,671 shares in the last quarter. Norges Bank purchased a new stake in Charter Communications in the 4th quarter valued at $555,383,000. Voyager Global Management LP increased its stake in shares of Charter Communications by 1,380.0% in the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company's stock worth $386,188,000 after acquiring an additional 1,725,000 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Charter Communications by 119.6% in 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 last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charter Communications

In other Charter Communications news, Director Wade Davis acquired 5,728 shares of the stock in a transaction dated 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 transaction, 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas Rutledge sold 18,200 shares of the company's stock in a transaction dated 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 transaction, the director directly owned 3,968 shares of the company's stock, valued at approximately $583,057.92. This represents a 82.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired 20,125 shares of company stock worth $3,167,116 in the last 90 days. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CHTR shares. Royal Bank Of Canada decreased their price target on Charter Communications from $250.00 to $220.00 and set a "sector perform" rating on the stock in a research note on Monday, April 27th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $210.00 target price on shares of Charter Communications in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Charter Communications in a research note on Wednesday. Benchmark reduced their price target on shares of Charter Communications from $455.00 to $435.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective 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. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $278.50.

Charter Communications Trading Up 3.1%

Shares of CHTR stock opened at $133.64 on Friday. The business's 50 day moving average is $155.75 and its two-hundred day moving average is $194.48. Charter Communications, Inc. has a twelve month low of $124.05 and a twelve month high of $422.29. The company has a market capitalization of $16.44 billion, a P/E ratio of 3.61, a price-to-earnings-growth ratio of 0.23 and a beta of 0.71. 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 (NASDAQ:CHTR - Get Free Report) last released its earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing the consensus estimate of $10.01 by ($0.84). Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same quarter last year, the business posted $8.42 EPS. The firm's revenue was down 1.0% on a year-over-year basis. Equities analysts forecast that Charter Communications, Inc. will post 43 EPS for the current year.

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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