California First Leasing Corp Purchases 12,390 Shares of Charter Communications, Inc. $CHTR

Key Points

• California First Leasing Corp doubled its stake in Charter Communications during the first quarter, buying an additional 12,390 shares and bringing its total holdings to 24,772 shares worth about $5.35 million.
• Charter’s stock was trading near $137.20, far below its 52-week high of $422.29, while the company carried notable leverage with a debt-to-equity ratio of 4.56.
• The company recently missed earnings estimates in its latest quarter, reporting $9.17 EPS versus $10.01 expected, even though revenue came in slightly above forecasts at $13.60 billion.

California First Leasing Corp boosted its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 100.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,772 shares of the company's stock after acquiring an additional 12,390 shares during the period. Charter Communications accounts for 1.7% of California First Leasing Corp's holdings, making the stock its 21st biggest position. California First Leasing Corp's holdings in Charter Communications were worth $5,348,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quarry LP increased its position in shares of Charter Communications by 153.2% during the fourth quarter. Quarry LP now owns 119 shares of the company's stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Charter Communications in the 4th quarter worth $25,000. DV Equities LLC purchased a new position in Charter Communications during the 4th quarter worth $25,000. Geneos Wealth Management Inc. grew its stake in Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $35,000 after buying an additional 55 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in Charter Communications by 1,600.0% during the 4th quarter. Manchester Capital Management LLC now owns 187 shares of the company's stock valued at $39,000 after buying an additional 176 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Price Performance

CHTR opened at $137.20 on Monday. Charter Communications, Inc. has a fifty-two week low of $124.05 and a fifty-two week high of $422.29. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40. The company has a fifty day moving average of $145.77 and a two-hundred day moving average of $191.99. The stock has a market capitalization of $16.87 billion, a price-to-earnings ratio of 3.71, a PEG ratio of 0.24 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its earnings results on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.01 by ($0.84). Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The firm had revenue of $13.60 billion for the quarter, compared to analysts' expectations of $13.56 billion. During the same period in the previous year, the company earned $8.42 earnings per share. The company's revenue was down 1.0% compared to the same quarter last year. On average, research analysts expect that Charter Communications, Inc. will post 42.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on CHTR. UBS Group reiterated a "neutral" rating and issued a $235.00 price target on shares of Charter Communications in a research note on Thursday, June 25th. New Street Research cut their price objective on shares of Charter Communications from $328.00 to $302.00 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Bank of America decreased their price objective on shares of Charter Communications from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Charter Communications from $235.00 to $215.00 and set a "hold" rating for the company in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Charter Communications in a research report on Wednesday, April 29th. They set a "neutral" rating and a $215.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $262.56.

Insider Buying and Selling

In other Charter Communications news, Director Thomas Rutledge sold 69,633 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $144.45, for a total transaction of $10,058,486.85. Following the transaction, the director owned 3,968 shares in the company, valued at approximately $573,177.60. This represents a 94.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher L. Winfrey acquired 3,468 shares of the company's stock in a transaction on Tuesday, April 28th. The stock was acquired at an average cost of $172.23 per share, for a total transaction of $597,293.64. Following the completion of the acquisition, the chief executive officer owned 74,409 shares of the company's stock, valued at $12,815,462.07. This trade represents a 4.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 20,125 shares of company stock worth $3,167,116 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

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.

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