Wellington Management Group LLP Grows Position in Charter Communications, Inc. $CHTR

Key Points

• Wellington Management Group LLP increased its stake in Charter Communications by 261.5%, owning 37,247 shares worth approximately $13.7 million as of the latest SEC filing.
• CEO Christopher L. Winfrey purchased 3,670 shares for about $1 million, increasing his ownership by 5.51% to a total of 70,243 shares valued at over $19 million.
• Charter Communications' stock recently opened at $266.67, down 2.5%, with analysts predicting an earnings per share of 38.16 for the current year.

Wellington Management Group LLP increased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 261.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,247 shares of the company's stock after purchasing an additional 26,944 shares during the quarter. Wellington Management Group LLP's holdings in Charter Communications were worth $13,727,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new position in Charter Communications during the fourth quarter worth $269,000. Coldstream Capital Management Inc. boosted its stake in Charter Communications by 8.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,047 shares of the company's stock worth $702,000 after buying an additional 159 shares during the last quarter. Makaira Partners LLC boosted its stake in Charter Communications by 4.0% during the fourth quarter. Makaira Partners LLC now owns 373,191 shares of the company's stock worth $127,919,000 after buying an additional 14,510 shares during the last quarter. Northern Trust Corp boosted its stake in Charter Communications by 16.6% during the fourth quarter. Northern Trust Corp now owns 1,001,066 shares of the company's stock worth $343,135,000 after buying an additional 142,883 shares during the last quarter. Finally, Utah Retirement Systems boosted its stake in Charter Communications by 0.6% during the fourth quarter. Utah Retirement Systems now owns 15,606 shares of the company's stock worth $5,349,000 after buying an additional 100 shares during the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Oppenheimer raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price objective on the stock in a research note on Friday, May 16th. Wells Fargo & Company started coverage on Charter Communications in a research note on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 price target on the stock. Raymond James Financial raised Charter Communications from an "underperform" rating to a "market perform" rating in a research note on Monday, May 19th. Sanford C. Bernstein raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 price target on the stock in a research note on Monday, July 28th. Finally, Wolfe Research raised Charter Communications from an "underperform" rating to a "peer perform" rating in a research note on Friday, June 20th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $404.71.

Charter Communications Trading Up 0.7%

CHTR traded up $1.95 during mid-day trading on Friday, hitting $265.58. 1,707,578 shares of the stock were exchanged, compared to its average volume of 1,961,713. The firm's fifty day moving average is $331.68 and its two-hundred day moving average is $359.17. Charter Communications, Inc. has a 1-year low of $254.67 and a 1-year high of $437.06. 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 company has a market cap of $36.28 billion, a PE ratio of 7.27, a PEG ratio of 0.59 and a beta of 1.02.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings results 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). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The company had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $13.76 billion. During the same quarter last year, the company earned $8.49 EPS. Charter Communications's revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

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.