Charter Communications, Inc. $CHTR Shares Bought by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its Charter Communications stake by 30.4% in the first quarter, buying 12,249 more shares and bringing its total to 52,497 shares worth about $11.3 million.
• Charter Communications reported earnings of $9.17 per share for the quarter, missing analysts’ expectations, while revenue came in slightly above estimates at $13.6 billion. Revenue was down 1.0% year over year.
• Sentiment around the stock remains mixed: insiders have been active with both buying and selling, and analysts currently have a consensus rating of “Reduce” with a consensus price target of $290.38.

BI Asset Management Fondsmaeglerselskab A S raised its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 30.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,497 shares of the company's stock after buying an additional 12,249 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Charter Communications were worth $11,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stance Capital LLC grew its holdings in Charter Communications by 340.9% in the fourth quarter. Stance Capital LLC now owns 8,513 shares of the company's stock valued at $1,777,000 after purchasing an additional 6,582 shares during the period. Pure Financial Advisors LLC lifted its position in shares of Charter Communications by 4.1% during the 4th quarter. Pure Financial Advisors LLC now owns 1,116 shares of the company's stock valued at $233,000 after buying an additional 44 shares in the last quarter. Invesco Ltd. grew its stake in Charter Communications by 15.4% in the 4th quarter. Invesco Ltd. now owns 2,777,898 shares of the company's stock valued at $579,886,000 after acquiring an additional 370,167 shares during the period. Rare Wolf Capital LLC acquired a new stake in Charter Communications in the 4th quarter valued at $1,375,000. Finally, Corient Private Wealth LLC increased its holdings in Charter Communications by 43.1% in the 4th quarter. Corient Private Wealth LLC now owns 13,402 shares of the company's stock worth $2,798,000 after acquiring an additional 4,034 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company's stock.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $126.23 on Monday. The company's 50-day moving average is $164.80 and its two-hundred day moving average is $196.91. Charter Communications, Inc. has a 1-year low of $126.00 and a 1-year high of $422.29. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 3.41, a PEG ratio of 0.22 and a beta of 0.72.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.01 by ($0.84). The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The firm's quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.42 EPS. Analysts forecast that Charter Communications, Inc. will post 43 EPS for the current year.

Insider Buying and Selling

In other news, Director Thomas Rutledge sold 18,200 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total value of $2,674,308.00. Following the transaction, the director owned 3,968 shares of the company's stock, valued at $583,057.92. This represents a 82.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mauricio Ramos purchased 9,929 shares of the stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the acquisition, the director owned 19,309 shares in the company, valued at approximately $2,721,217.37. This trade represents a 105.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 20,125 shares of company stock valued at $3,167,116. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CHTR. Sanford C. Bernstein restated a "market perform" rating and set a $210.00 price objective on shares of Charter Communications in a research report on Tuesday, May 26th. Citigroup reduced their price objective on Charter Communications from $290.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 27th. BNP Paribas Exane lowered their target price on shares of Charter Communications from $160.00 to $150.00 and set an "underperform" rating on the stock in a research note on Tuesday, February 24th. Benchmark dropped their target price on shares of Charter Communications from $455.00 to $435.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Charter Communications in a report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Charter Communications currently has a consensus rating of "Reduce" and a consensus target price of $290.38.

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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