Capco Asset Management LLC Sells 55,911 Shares of Charter Communications, Inc. $CHTR

Key Points

• Capco Asset Management cut its Charter Communications stake by 55.4% in the fourth quarter, selling 55,911 shares and leaving it with 45,021 shares valued at about $9.4 million.
• Insider buying picked up recently, with directors Balan Nair and Mauricio Ramos purchasing shares; insiders bought 20,125 shares total over the last 90 days.
• Charter’s latest quarter missed earnings expectations, reporting $9.17 EPS versus the $10.01 consensus, even as revenue of $13.60 billion slightly topped estimates. The stock has also drawn mixed analyst views, with an average rating of “Reduce.”

Capco Asset Management LLC lowered its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 55.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,021 shares of the company's stock after selling 55,911 shares during the period. Charter Communications makes up 2.3% of Capco Asset Management LLC's holdings, making the stock its 12th biggest holding. Capco Asset Management LLC's holdings in Charter Communications were worth $9,398,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. First Eagle Investment Management LLC increased its stake in shares of Charter Communications by 119.6% in the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company's stock valued at $619,885,000 after purchasing an additional 1,617,148 shares during the last quarter. State Street Corp increased its stake in shares of Charter Communications by 22.7% in the 3rd quarter. State Street Corp now owns 7,961,695 shares of the company's stock valued at $2,190,302,000 after purchasing an additional 1,475,383 shares during the last quarter. Capital Research Global Investors bought a new position in shares of Charter Communications in the 3rd quarter valued at $327,179,000. Vanguard Group Inc. increased its stake in shares of Charter Communications by 13.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company's stock valued at $2,575,630,000 after purchasing an additional 1,130,648 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Charter Communications by 826.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,244,034 shares of the company's stock valued at $342,240,000 after purchasing an additional 1,109,703 shares during the last quarter. Institutional investors own 81.76% of the company's stock.

Insider Buying and Selling at Charter Communications

In related news, Director Balan Nair bought 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 directly owned 12,029 shares in the company, valued at approximately $2,110,608.34. This trade represents a 9.07% 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 Mauricio Ramos bought 9,929 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the transaction, the director owned 19,309 shares in the company, valued at $2,721,217.37. The trade was a 105.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 20,125 shares of company stock valued at $3,167,116. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CHTR. Zacks Research raised shares of Charter Communications from a "strong sell" rating to a "hold" rating in a report on Monday, February 16th. Williams Trading set a $437.00 target price on shares of Charter Communications in a report on Monday, February 2nd. BNP Paribas Exane dropped their target price on shares of Charter Communications from $160.00 to $150.00 and set an "underperform" rating for the company in a report on Tuesday, February 24th. Weiss Ratings reissued a "sell (d+)" rating on shares of Charter Communications in a report on Friday, March 27th. Finally, New Street Research dropped their target price on shares of Charter Communications from $328.00 to $302.00 and set a "buy" rating for the company in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given 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 Price Performance

Charter Communications stock opened at $148.90 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. The company has a market capitalization of $18.31 billion, a PE ratio of 4.02, a P/E/G ratio of 0.25 and a beta of 0.76. Charter Communications, Inc. has a 12 month low of $136.63 and a 12 month high of $422.29. The stock has a 50-day moving average price of $198.28 and a two-hundred day moving average price of $206.98.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing the consensus estimate of $10.01 by ($0.84). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.56 billion. During the same quarter in the prior year, the business posted $8.42 earnings per share. Charter Communications's revenue for the quarter was down 1.0% compared to the same quarter last year. Analysts expect that Charter Communications, Inc. will post 43 EPS for the current year.

About Charter Communications

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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