Caisse DE Depot ET Placement DU Quebec Buys 24,692 Shares of Charter Communications, Inc. $CHTR

Key Points

• Caisse de Depot et Placement du Quebec increased its stake in Charter Communications by 418.5% in the first quarter, owning 30,592 shares valued at approximately $11.27 million.
• CEO Christopher L. Winfrey and Director Balan Nair both purchased shares of Charter Communications, with Winfrey increasing his stake by 5.51% and Nair by 3.89% in their recent transactions.
• Despite a revenue increase, Charter Communications reported earnings per share of $9.18, missing estimates by $0.88, reflecting a 9.53% net margin and prompting analysts to adjust price targets with mixed ratings.

Caisse DE Depot ET Placement DU Quebec raised its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 418.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,592 shares of the company's stock after buying an additional 24,692 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Charter Communications were worth $11,274,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SouthState Corp bought a new position in Charter Communications in the 1st quarter valued at about $25,000. ST Germain D J Co. Inc. increased its holdings in Charter Communications by 1,283.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock valued at $31,000 after buying an additional 77 shares during the period. SBI Securities Co. Ltd. increased its holdings in Charter Communications by 93.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock valued at $31,000 after buying an additional 41 shares during the period. Strengthening Families & Communities LLC bought a new position in Charter Communications in the 1st quarter valued at about $33,000. Finally, Larson Financial Group LLC increased its holdings in Charter Communications by 70.2% in the 1st quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after buying an additional 40 shares during the period. 81.76% of the stock is owned by institutional investors.

Charter Communications Trading Up 0.7%

NASDAQ:CHTR traded up $1.95 during mid-day trading on Friday, hitting $265.58. 1,707,578 shares of the company's stock were exchanged, compared to its average volume of 1,961,713. The company has a 50 day simple moving average of $331.68 and a 200-day simple moving average of $359.17. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. Charter Communications, Inc. has a fifty-two week low of $254.67 and a fifty-two week high of $437.06. The firm has a market capitalization of $36.28 billion, a P/E ratio of 7.27, a PEG ratio of 0.60 and a beta of 1.02.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its earnings results on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The business had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same quarter in the prior year, the business earned $8.49 earnings per share. The firm's quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Insider Activity at Charter Communications

In other news, CEO Christopher L. Winfrey purchased 3,670 shares of the stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the acquisition, the chief executive officer owned 70,243 shares in the company, valued at $19,183,363.30. This trade represents a 5.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Balan Nair purchased 360 shares of the stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $274.21 per share, with a total value of $98,715.60. Following the acquisition, the director 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. 0.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on CHTR. Barclays decreased their target price on shares of Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a report on Monday, July 28th. Royal Bank Of Canada decreased their target price on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a report on Monday, July 28th. UBS Group reduced their price target on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Bank of America raised their price target on shares of Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company began coverage on shares of Charter Communications in a research note on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $404.71.

Charter Communications 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.