Assenagon Asset Management S.A. Has $10.98 Million Stock Position in Charter Communications, Inc. $CHTR

Key Points

• Assenagon Asset Management increased its Charter Communications position by 61% in the second quarter, holding 77,213 shares valued at approximately $10.98 million. Institutional investors collectively own 81.76% of the company.
• Charter reported quarterly EPS of $10.66, beating estimates of $9.98, while revenue reached $13.53 billion; however, revenue declined 1.7% year over year.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $226.88. Recent analysts lowered several price targets, while insider activity included one director purchase and one director sale.

Assenagon Asset Management S.A. increased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 61.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 77,213 shares of the company's stock after buying an additional 29,242 shares during the quarter. Assenagon Asset Management S.A. owned about 0.06% of Charter Communications worth $10,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC bought a new stake in Charter Communications during the 1st quarter valued at $25,000. Quarry LP raised its holdings in Charter Communications by 153.2% during the fourth quarter. Quarry LP now owns 119 shares of the company's stock worth $25,000 after buying an additional 72 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Charter Communications in the 4th quarter worth about $25,000. DV Equities LLC bought a new position in Charter Communications in the 4th quarter valued at about $25,000. Finally, Geneos Wealth Management Inc. lifted its position in Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock valued at $35,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 81.76% of the company's stock.

Charter Communications Price Performance

Charter Communications stock opened at $153.29 on Tuesday. The business's 50 day simple moving average is $136.52 and its 200 day simple moving average is $179.70. Charter Communications, Inc. has a 12 month low of $111.55 and a 12 month high of $285.82. The company has a market cap of $18.28 billion, a price-to-earnings ratio of 3.98, a PEG ratio of 0.25 and a beta of 0.70. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its earnings results 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 business 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 business posted $9.18 earnings per share. The business's revenue for the quarter was down 1.7% on a year-over-year basis. Sell-side analysts forecast that Charter Communications, Inc. will post 42.72 EPS for the current year.

Insider Activity

In related news, Director Thomas Rutledge sold 18,200 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total value of $2,674,308.00. Following the sale, the director directly owned 3,968 shares in the company, valued at approximately $583,057.92. The trade was a 82.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mauricio Ramos acquired 9,929 shares of the company's stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $140.93 per share, for a total transaction of $1,399,293.97. Following the completion of the acquisition, the director owned 19,309 shares of the company's stock, valued at approximately $2,721,217.37. The trade was a 105.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Bank of America reissued a "buy" rating on shares of Charter Communications in a report on Monday, July 27th. JPMorgan Chase & Co. cut their price objective on shares of Charter Communications from $200.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th. TD Cowen reduced their target price on shares of Charter Communications from $413.00 to $380.00 and set a "buy" rating for the company in a research note on Monday, July 27th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $150.00 target price on shares of Charter Communications in a report on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charter Communications from $235.00 to $215.00 and set a "hold" rating on the stock in a research report on Monday, April 27th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $226.88.

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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