Bank of Nova Scotia Cuts Position in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Bank of Nova Scotia reduced its stock holdings in Charter Communications, Inc. by 22.2%, owning 9,931 shares worth approximately $3.66 million after selling 2,832 shares in the first quarter.
• Charter Communications reported $9.18 EPS for its last quarter, missing analysts' expectations of $10.06 EPS, although revenue was up 0.6% year-over-year.
• Several hedge funds significantly increased their positions in Charter Communications, with Price T Rowe Associates boosting holdings by 822.8% in the fourth quarter.

Bank of Nova Scotia reduced its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 22.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,931 shares of the company's stock after selling 2,832 shares during the quarter. Bank of Nova Scotia's holdings in Charter Communications were worth $3,660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CHTR. Price T Rowe Associates Inc. MD increased its holdings in Charter Communications by 822.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,263,721 shares of the company's stock worth $433,167,000 after purchasing an additional 1,126,783 shares during the period. GAMMA Investing LLC increased its holdings in Charter Communications by 43,296.0% during the 1st quarter. GAMMA Investing LLC now owns 857,938 shares of the company's stock worth $316,176,000 after purchasing an additional 855,961 shares during the period. LSV Asset Management increased its holdings in Charter Communications by 8,343.1% during the 4th quarter. LSV Asset Management now owns 177,305 shares of the company's stock worth $60,775,000 after purchasing an additional 175,205 shares during the period. Dimensional Fund Advisors LP boosted its position in Charter Communications by 21.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 900,849 shares of the company's stock valued at $308,795,000 after acquiring an additional 161,547 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Charter Communications by 42.2% during the 1st quarter. Allianz Asset Management GmbH now owns 500,947 shares of the company's stock valued at $184,614,000 after acquiring an additional 148,569 shares in the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Stock Performance

CHTR stock traded down $2.21 during midday trading on Friday, reaching $256.57. The stock had a trading volume of 1,782,047 shares, compared to its average volume of 2,646,453. The stock has a market cap of $35.05 billion, a PE ratio of 7.03, a P/E/G ratio of 0.57 and a beta of 1.02. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a fifty day simple moving average of $368.33 and a two-hundred day simple moving average of $368.04. Charter Communications, Inc. has a 52-week low of $256.03 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 earnings per share for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). The company had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The business's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.49 EPS. As a group, equities research analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current year.

Insider Transactions at Charter Communications

In related news, CEO Christopher L. Winfrey acquired 3,670 shares of Charter Communications stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the purchase, the chief executive officer owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. This represents a 5.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Balan Nair acquired 360 shares of Charter Communications stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $274.21 per share, with a total value of $98,715.60. Following the purchase, the director directly owned 9,622 shares in the company, valued at approximately $2,638,448.62. The trade was a 3.89% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CHTR. Wall Street Zen raised Charter Communications from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Oppenheimer raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 target price on the stock in a research report on Friday, May 16th. Wells Fargo & Company increased their target price on Charter Communications from $380.00 to $400.00 and gave the company an "equal weight" rating in a research report on Monday, April 28th. Morgan Stanley increased their target price on Charter Communications from $385.00 to $415.00 and gave the company an "equal weight" rating in a research report on Monday, April 28th. Finally, Barclays lowered their price objective on Charter Communications from $341.00 to $275.00 and set an "underweight" rating for the company in a research report on Monday, July 28th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $410.59.

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.