Hsbc Holdings PLC Increases Stock Position in Charter Communications, Inc. $CHTR

Key Points

• Hsbc Holdings PLC increased its stake in Charter Communications by 0.8%, owning 143,382 shares worth approximately $52.8 million.
• Charter Communications reported a quarterly EPS of $9.18, missing estimates, while revenue slightly exceeded expectations at $13.77 billion.
• Several analysts have recently upgraded Charter's ratings, with a consensus hold rating and a target price of $404.71.

Hsbc Holdings PLC boosted its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,382 shares of the company's stock after purchasing an additional 1,075 shares during the period. Hsbc Holdings PLC owned 0.10% of Charter Communications worth $52,808,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of Charter Communications by 10.5% in the 1st quarter. Allworth Financial LP now owns 283 shares of the company's stock worth $104,000 after purchasing an additional 27 shares during the period. Hemington Wealth Management increased its holdings in Charter Communications by 24.3% in the 1st quarter. Hemington Wealth Management now owns 143 shares of the company's stock valued at $52,000 after acquiring an additional 28 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Charter Communications by 1.1% during the 1st quarter. Brown Advisory Inc. now owns 2,704 shares of the company's stock worth $997,000 after purchasing an additional 29 shares during the period. Kathmere Capital Management LLC raised its stake in shares of Charter Communications by 3.8% during the 1st quarter. Kathmere Capital Management LLC now owns 876 shares of the company's stock worth $323,000 after acquiring an additional 32 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Charter Communications by 4.9% during the first quarter. Blair William & Co. IL now owns 818 shares of the company's stock worth $301,000 after purchasing an additional 38 shares in the last quarter. 81.76% of the stock is owned by institutional investors.

Insider Transactions at Charter Communications

In other Charter Communications news, CEO Christopher L. Winfrey bought 3,670 shares of the business's stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the purchase, the chief executive officer directly owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. The trade was a 5.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Balan Nair bought 360 shares of the business's stock in a transaction on Thursday, July 31st. The stock was bought at an average price of $274.21 per share, with a total value of $98,715.60. Following the transaction, the director owned 9,622 shares in the company, valued at approximately $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.83% of the company's stock.

Charter Communications Price Performance

Shares of Charter Communications stock traded up $1.48 on Wednesday, hitting $268.15. The company's stock had a trading volume of 443,180 shares, compared to its average volume of 1,491,161. Charter Communications, Inc. has a 1 year low of $254.67 and a 1 year high of $437.06. The company has a market capitalization of $36.63 billion, a price-to-earnings ratio of 7.32, a price-to-earnings-growth ratio of 0.61 and a beta of 1.02. The firm has a fifty day moving average price of $338.54 and a 200-day moving average price of $360.95. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $13.76 billion. During the same period in the previous year, the firm posted $8.49 EPS. The firm's quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays dropped their price objective on shares of Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a research note 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. Bank of America increased their target price on Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded Charter Communications from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Finally, Arete Research upgraded Charter Communications to a "strong sell" rating in a research note on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Charter Communications currently has an average rating of "Hold" and an average price target of $404.71.

About Charter Communications

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.