Charter Communications, Inc. $CHTR Shares Bought by Banyan Capital Management Inc.

Key Points

• Banyan Capital Management has increased its stake in Charter Communications by 4.5%, now holding 34,137 shares valued at approximately $13.96 million, representing 7.2% of its portfolio.
• Institutional investors own 81.76% of Charter Communications' stock, with significant recent stakes being acquired by various hedge funds.
• Charter Communications' stock price has fluctuated significantly, with a one-year range between $251.80 and $437.06, and the current stock price opening at $267.04.

Banyan Capital Management Inc. grew its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,137 shares of the company's stock after purchasing an additional 1,479 shares during the period. Charter Communications makes up approximately 7.2% of Banyan Capital Management Inc.'s portfolio, making the stock its 6th biggest holding. Banyan Capital Management Inc.'s holdings in Charter Communications were worth $13,956,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CHTR. Salem Investment Counselors Inc. grew its position in Charter Communications by 2,033.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 64 shares of the company's stock valued at $26,000 after buying an additional 61 shares during the last quarter. SouthState Corp purchased a new stake in shares of Charter Communications in the first quarter valued at about $25,000. ST Germain D J Co. Inc. increased its stake in shares of 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 worth $31,000 after acquiring an additional 77 shares during the period. SBI Securities Co. Ltd. raised its holdings in Charter Communications by 93.2% during the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock worth $31,000 after purchasing an additional 41 shares in the last quarter. Finally, Strengthening Families & Communities LLC purchased a new position in Charter Communications during the first quarter worth about $33,000. 81.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Balan Nair bought 360 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average cost 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 approximately $2,638,448.62. The trade was a 3.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were bought 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 $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 insiders.

Wall Street Analyst Weigh In

CHTR has been the subject of a number of analyst reports. Wells Fargo & Company assumed coverage on Charter Communications in a research note on Thursday, August 21st. They set an "equal weight" rating and a $300.00 target price for the company. The Goldman Sachs Group initiated coverage on Charter Communications in a research report on Tuesday, September 2nd. They issued a "sell" rating and a $223.00 price objective for the company. Royal Bank Of Canada decreased their target price on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a research report on Monday, July 28th. Bank of America upped their price target on shares of Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Finally, Arete Research upgraded shares of Charter Communications to a "strong sell" rating in a research note on Tuesday, July 8th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $392.94.

Charter Communications Stock Up 0.3%

CHTR stock opened at $267.04 on Wednesday. The company has a 50 day moving average price of $283.99 and a two-hundred day moving average price of $347.18. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market capitalization of $36.47 billion, a P/E ratio of 7.31, a PEG ratio of 0.60 and a beta of 1.02. Charter Communications, Inc. has a one year low of $251.80 and a one year high of $437.06.

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

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.

Want to see what other hedge funds are holding CHTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charter Communications, Inc. (NASDAQ:CHTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.