CenterBook Partners LP Invests $3.47 Million in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• CenterBook Partners LP acquired a new position in Charter Communications, purchasing 9,412 shares valued at approximately $3.47 million.
• The stock of Charter Communications has seen a recent decline of 1.5%, with a market capitalization of $35.79 billion and notable price targets set by analysts fluctuating between $370 and $510.
• Insider purchases included transactions by Director Balan Nair and CEO Christopher L. Winfrey, indicating a 5.51% increase in the CEO's ownership with purchases made on the same day.

CenterBook Partners LP bought a new stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,412 shares of the company's stock, valued at approximately $3,469,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. ST Germain D J Co. Inc. grew its position in Charter Communications by 1,283.3% during the first quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock valued at $31,000 after acquiring an additional 77 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Charter Communications by 93.2% during the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock valued at $31,000 after acquiring an additional 41 shares during the last quarter. Larson Financial Group LLC grew its position in Charter Communications by 70.2% during the first quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after acquiring an additional 40 shares during the last quarter. Costello Asset Management INC bought a new position in Charter Communications during the first quarter valued at approximately $37,000. Finally, NBC Securities Inc. bought a new position in Charter Communications during the first quarter valued at approximately $47,000. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Stock Down 0.9%

Charter Communications stock traded down $2.21 on Friday, hitting $256.57. 1,782,047 shares of the stock traded hands, compared to its average volume of 2,646,453. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. The firm has a market cap of $35.04 billion, a P/E ratio of 7.03, a price-to-earnings-growth ratio of 0.58 and a beta of 1.02. The business's fifty day simple moving average is $368.33 and its 200 day simple moving average is $367.94. Charter Communications, Inc. has a 1 year low of $256.03 and a 1 year high of $437.06.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The company reported $9.18 EPS 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 analysts' expectations of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $8.49 EPS. As a group, sell-side analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CHTR. Arete Research upgraded shares of Charter Communications to a "strong sell" rating in a research report on Tuesday, July 8th. Oppenheimer upgraded shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 target price on the stock in a report on Friday, May 16th. UBS Group cut their target price on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Wolfe Research upgraded shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. Finally, Loop Capital upgraded shares of Charter Communications from a "hold" rating to a "buy" rating and raised their target price for the stock from $430.00 to $510.00 in a report on Monday, May 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Charter Communications currently has a consensus rating of "Hold" and an average price target of $410.59.

Insider Buying and Selling at Charter Communications

In other news, Director Balan Nair acquired 360 shares of the stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $274.21 per share, with a total value of $98,715.60. Following the completion of the transaction, the director owned 9,622 shares of the company's stock, valued at $2,638,448.62. This represents a 3.89% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher L. Winfrey acquired 3,670 shares of the 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 transaction, the chief executive officer directly owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. This trade represents a 5.51% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.83% of the company's stock.

Charter Communications Company 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.