Charter Communications, Inc. $CHTR Shares Bought by Mount Capital Ltd

Key Points

• Mount Capital Ltd increased its Charter Communications stake by 10.5% in the fourth quarter, adding 9,400 shares and bringing its total holding to 98,661 shares worth about $20.6 million.
• Several analysts cut price targets on CHTR, and the stock now carries a consensus rating of “Reduce” with an average price target of $290.38. Ratings remain mixed, with five Buy, nine Hold, and six Sell ratings.
• Charter reported Q1 earnings of $9.17 per share, missing estimates, while revenue of $13.60 billion slightly topped expectations. The stock also has fallen sharply, opening at $132.12 versus a 12-month high of $422.29.

Mount Capital Ltd lifted its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 98,661 shares of the company's stock after purchasing an additional 9,400 shares during the quarter. Charter Communications comprises about 8.3% of Mount Capital Ltd's investment portfolio, making the stock its 5th largest position. Mount Capital Ltd owned approximately 0.08% of Charter Communications worth $20,595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Advisory Services Network LLC grew its stake in shares of Charter Communications by 3.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,028 shares of the company's stock worth $420,000 after purchasing an additional 38 shares during the period. Occudo Quantitative Strategies LP grew its stake in Charter Communications by 1.4% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company's stock valued at $1,255,000 after acquiring an additional 41 shares during the last quarter. Orion Porfolio Solutions LLC grew its stake in Charter Communications by 1.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company's stock valued at $988,000 after acquiring an additional 41 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Charter Communications by 3.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,426 shares of the company's stock valued at $392,000 after acquiring an additional 49 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock valued at $35,000 after acquiring an additional 55 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on CHTR shares. Royal Bank Of Canada lowered their price objective on shares of Charter Communications from $250.00 to $220.00 and set a "sector perform" rating on the stock in a research note on Monday, April 27th. New Street Research lowered their price objective on shares of Charter Communications from $328.00 to $302.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. Citigroup lowered their price objective on shares of Charter Communications from $290.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, April 27th. Sanford C. Bernstein reissued a "market perform" rating and issued a $210.00 price objective on shares of Charter Communications in a research note on Tuesday, May 26th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Charter Communications in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $290.38.

Insider Buying and Selling

In other news, CEO Christopher L. Winfrey bought 3,468 shares of Charter Communications stock in a transaction on Tuesday, April 28th. The shares were bought at an average cost of $172.23 per share, for a total transaction of $597,293.64. Following the acquisition, the chief executive officer owned 74,409 shares in the company, valued at approximately $12,815,462.07. This trade represents a 4.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mauricio Ramos bought 9,929 shares of Charter Communications stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $140.93 per share, for a total transaction of $1,399,293.97. Following the completion of the acquisition, the director owned 19,309 shares in the company, valued at $2,721,217.37. This represents a 105.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 20,125 shares of company stock worth $3,167,116 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Charter Communications Price Performance

NASDAQ:CHTR opened at $132.12 on Friday. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of 3.57, a price-to-earnings-growth ratio of 0.22 and a beta of 0.71. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. The company's 50-day moving average is $181.51 and its two-hundred day moving average is $201.34. Charter Communications, Inc. has a 12-month low of $126.70 and a 12-month high of $422.29.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. Charter Communications's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $8.42 earnings per share. Research analysts expect that Charter Communications, Inc. will post 43 EPS for the current year.

About Charter Communications

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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