Canada Pension Plan Investment Board Has $9.54 Million Position in Charter Communications, Inc. $CHTR

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in Charter Communications, Inc. by 51.3% in the first quarter, resulting in ownership of 25,890 shares valued at approximately $9.54 million.
• Charter Communications' CEO, Christopher L. Winfrey, purchased 3,670 shares at around $273.10 per share, increasing his ownership by 5.51%.
• Several hedge funds adjusted their positions in Charter Communications, with 81.76% of the stock now owned by institutional investors, highlighting significant investment interest in the firm.

Canada Pension Plan Investment Board cut its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 51.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,890 shares of the company's stock after selling 27,257 shares during the quarter. Canada Pension Plan Investment Board's holdings in Charter Communications were worth $9,541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Charter Communications by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 8,191,760 shares of the company's stock valued at $3,018,909,000 after purchasing an additional 120,303 shares during the period. JPMorgan Chase & Co. boosted its holdings in Charter Communications by 53.6% in the 1st quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock valued at $851,331,000 after purchasing an additional 806,145 shares during the period. Invesco Ltd. boosted its holdings in Charter Communications by 7.0% in the 1st quarter. Invesco Ltd. now owns 1,834,807 shares of the company's stock valued at $676,181,000 after purchasing an additional 120,624 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Charter Communications by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,283,315 shares of the company's stock valued at $472,941,000 after purchasing an additional 19,594 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Charter Communications by 22.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company's stock valued at $405,118,000 after purchasing an additional 198,444 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Christopher L. Winfrey acquired 3,670 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were purchased at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the completion of the purchase, the chief executive officer owned 70,243 shares of the company's stock, valued at $19,183,363.30. This represents a 5.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Balan Nair acquired 360 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were purchased at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the purchase, the director directly owned 9,622 shares of the company's stock, 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group reduced their price target on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Royal Bank Of Canada reduced their price objective on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" rating for the company in a report on Monday, July 28th. Wolfe Research raised shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. Wells Fargo & Company assumed coverage on shares of Charter Communications in a report on Thursday, August 21st. They set an "equal weight" rating and a $300.00 price objective for the company. Finally, Loop Capital raised shares of Charter Communications from a "hold" rating to a "buy" rating and raised their price objective for the stock from $430.00 to $510.00 in a report on Monday, May 19th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $394.61.

Charter Communications Price Performance

Charter Communications stock traded up $1.99 during trading hours on Friday, hitting $261.50. 2,245,925 shares of the stock were exchanged, compared to its average volume of 1,724,361. 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 stock has a market capitalization of $35.72 billion, a P/E ratio of 7.16, a P/E/G ratio of 0.59 and a beta of 1.02. Charter Communications, Inc. has a 12 month low of $254.67 and a 12 month high of $437.06. The business's 50-day moving average is $318.13 and its two-hundred day moving average is $355.79.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data 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 return on equity of 26.77% and a net margin of 9.53%.Charter Communications's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $8.49 earnings per share. Equities research analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

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.