Charter Communications, Inc. $CHTR Shares Acquired by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management increased its Charter Communications stake by 119.6% in the fourth quarter, buying 1.62 million additional shares and bringing its total holding to 2.97 million shares worth about $619.9 million.
• Charter reported mixed quarterly results, with revenue of $13.60 billion slightly ahead of estimates but earnings of $9.17 per share missing expectations of $10.01. Revenue was down 1.0% year over year.
• Insiders were buying shares, including CEO Christopher L. Winfrey and Director Balan Nair, even as Wall Street remained cautious overall with an average analyst rating of Hold and a price target of $315.67.

First Eagle Investment Management LLC lifted its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 119.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,969,507 shares of the company's stock after acquiring an additional 1,617,148 shares during the quarter. First Eagle Investment Management LLC owned about 2.29% of Charter Communications worth $619,885,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in Charter Communications by 141.0% in 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 in the last quarter. Root Financial Partners LLC acquired a new position in Charter Communications in the 3rd quarter worth $38,000. Caitlin John LLC acquired a new position in Charter Communications in the 3rd quarter worth $41,000. Rakuten Securities Inc. lifted its holdings in Charter Communications by 535.0% in the 2nd quarter. Rakuten Securities Inc. now owns 127 shares of the company's stock worth $52,000 after buying an additional 107 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in Charter Communications by 100.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 291 shares of the company's stock worth $80,000 after buying an additional 146 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company's stock.

Charter Communications Price Performance

CHTR opened at $147.79 on Tuesday. The company has a 50-day moving average of $211.82 and a 200-day moving average of $212.46. The company has a market capitalization of $18.18 billion, a P/E ratio of 3.99, a PEG ratio of 0.27 and a beta of 0.76. Charter Communications, Inc. has a 1-year low of $146.46 and a 1-year high of $437.06. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly 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 business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same period last year, the firm posted $8.42 earnings per share. The company's quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts expect that Charter Communications, Inc. will post 43 EPS for the current fiscal year.

Insider Buying and Selling at Charter Communications

In related news, Director Balan Nair purchased 1,000 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were bought at an average cost of $175.46 per share, for a total transaction of $175,460.00. Following the transaction, the director owned 12,029 shares of the company's stock, valued at $2,110,608.34. This represents a 9.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Christopher L. Winfrey purchased 3,468 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were bought at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the completion of the transaction, the chief executive officer directly owned 74,409 shares in the company, valued at $12,815,462.07. This represents a 4.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 10,196 shares of company stock valued at $1,767,822 in the last ninety days. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CHTR. Wells Fargo & Company boosted their price objective on shares of Charter Communications from $180.00 to $200.00 and gave the stock an "underweight" rating in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Charter Communications from $235.00 to $215.00 and set a "hold" rating on the stock in a report on Monday, April 27th. Weiss Ratings reissued a "sell (d+)" rating on shares of Charter Communications in a research report on Friday, March 27th. New Street Research dropped their target price on shares of Charter Communications from $479.00 to $328.00 and set a "buy" rating for the company in a research report on Thursday, February 5th. Finally, KeyCorp reissued a "sector weight" rating on shares of Charter Communications in a research report on Monday, January 26th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $315.67.

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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