BW Gestao de Investimentos Ltda. Buys New Shares in Charter Communications, Inc. $CHTR

Key Points

• BW Gestao de Investimentos Ltda. opened a new position in Charter Communications, buying 15,000 shares worth about $3.13 million in the fourth quarter.
• Several other institutional investors also increased their Charter stakes, and 81.76% of the stock is now owned by institutions and hedge funds.
• Charter reported Q1 earnings of $9.17 per share, missing expectations, while revenue came in slightly ahead of estimates at $13.60 billion; analysts currently rate the stock a consensus “Reduce” with an average target price of $290.38.

BW Gestao de Investimentos Ltda. bought a new stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 15,000 shares of the company's stock, valued at approximately $3,131,000.

A number of other institutional investors also recently modified their holdings of the company. Dodge & Cox raised its position in shares of Charter Communications by 6.1% during the third quarter. Dodge & Cox now owns 11,807,549 shares of the company's stock worth $3,248,316,000 after purchasing an additional 681,063 shares during the period. Vanguard Group Inc. raised its position in shares of Charter Communications by 9.5% during the fourth quarter. Vanguard Group Inc. now owns 10,248,287 shares of the company's stock worth $2,139,330,000 after purchasing an additional 885,935 shares during the period. State Street Corp raised its position in shares of Charter Communications by 22.7% during the third quarter. State Street Corp now owns 7,961,695 shares of the company's stock worth $2,190,302,000 after purchasing an additional 1,475,383 shares during the period. First Eagle Investment Management LLC raised its position in shares of Charter Communications by 119.6% during the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company's stock worth $619,885,000 after purchasing an additional 1,617,148 shares during the period. Finally, Norges Bank acquired a new position in shares of Charter Communications during the fourth quarter worth approximately $555,383,000. 81.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Balan Nair purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was acquired at an average cost of $175.46 per share, with a total value of $175,460.00. Following the transaction, the director owned 12,029 shares of the company's stock, valued at $2,110,608.34. This represents a 9.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wade Davis purchased 5,728 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was bought at an average cost 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 $1,203,011. The trade was a 478.53% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 20,125 shares of company stock worth $3,167,116 in the last three months. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CHTR shares. Deutsche Bank Aktiengesellschaft lowered their target price on Charter Communications from $235.00 to $215.00 and set a "hold" rating on the stock in a research report on Monday, April 27th. BNP Paribas Exane lowered their target price on Charter Communications from $160.00 to $150.00 and set an "underperform" rating on the stock in a research report on Tuesday, February 24th. New Street Research lowered their target price on Charter Communications from $328.00 to $302.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Charter Communications in a research report on Friday, March 27th. Finally, Royal Bank Of Canada lowered their target price on Charter Communications from $250.00 to $220.00 and set a "sector perform" rating on the stock in a research report on Monday, April 27th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $290.38.

Charter Communications Trading Down 1.6%

NASDAQ CHTR opened at $140.27 on Wednesday. The firm has a market capitalization of $17.25 billion, a P/E ratio of 3.79, a PEG ratio of 0.25 and a beta of 0.71. The business has a fifty day simple moving average of $188.22 and a 200 day simple moving average of $203.39. Charter Communications, Inc. has a 12 month low of $136.63 and a 12 month high of $422.29. 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 quarterly earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing analysts' consensus estimates of $10.01 by ($0.84). The company had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The company's quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $8.42 earnings per share. On average, analysts predict that Charter Communications, Inc. will post 43 EPS for the current fiscal year.

Charter Communications Company 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.

Want to see what other hedge funds are holding CHTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charter Communications, Inc. (NASDAQ:CHTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.