Assenagon Asset Management S.A. Sells 7,295 Shares of Charter Communications, Inc. $CHTR

Key Points

• Assenagon Asset Management S.A. reduced its stake in Charter Communications, Inc. by 19.1%, selling 7,295 shares and bringing its total holdings down to 30,882 shares valued at $12.6 million.
• Charter Communications reported earnings per share of $9.18 for the quarter, missing expectations by $0.88, while revenue slightly exceeded estimates at $13.77 billion.
• Analysts have mixed ratings for Charter Communications, with a consensus rating of "Hold" and an average price target of $392.94, reflecting a range of opinions from "strong sell" to "buy."

Assenagon Asset Management S.A. lowered its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 19.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,882 shares of the company's stock after selling 7,295 shares during the period. Assenagon Asset Management S.A.'s holdings in Charter Communications were worth $12,625,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Salem Investment Counselors Inc. increased its holdings in shares of Charter Communications by 2,033.3% in the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company's stock worth $26,000 after buying an additional 61 shares during the period. SouthState Corp purchased a new position in shares of Charter Communications in the first quarter worth about $25,000. ST Germain D J Co. Inc. increased its holdings in shares of Charter Communications by 1,283.3% in the first quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock worth $31,000 after buying an additional 77 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Charter Communications by 93.2% in the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock worth $31,000 after buying an additional 41 shares during the period. Finally, Strengthening Families & Communities LLC purchased a new position in shares of Charter Communications in the first quarter worth about $33,000. Hedge funds and other institutional investors own 81.76% of the company's stock.

Charter Communications Price Performance

NASDAQ CHTR opened at $266.13 on Tuesday. The business's fifty day moving average price is $286.32 and its 200-day moving average price is $347.74. The stock has a market capitalization of $36.35 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 0.59 and a beta of 1.02. 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 1-year low of $251.80 and a 1-year high of $437.06.

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). The firm had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. Charter Communications's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $8.49 earnings per share. On average, equities analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CHTR shares. Royal Bank Of Canada decreased their price objective on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a report on Monday, July 28th. Wells Fargo & Company assumed coverage on Charter Communications in a report on Thursday, August 21st. They set an "equal weight" rating and a $300.00 price target on the stock. Bank of America boosted their price target on Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Arete Research upgraded Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Finally, Wolfe Research upgraded Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $392.94.

Insider Buying and Selling at Charter Communications

In other news, Director Balan Nair purchased 360 shares of the stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $274.21 per share, with a total value of $98,715.60. Following the acquisition, the director directly owned 9,622 shares of the company's stock, valued at $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the acquisition, the chief executive officer directly owned 70,243 shares in the company, valued at approximately $19,183,363.30. This trade represents a 5.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.83% of the stock is owned by corporate insiders.

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.

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