Charter Communications, Inc. $CHTR Shares Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden increased its Charter Communications stake by 72% in the first quarter, buying 8,560 additional shares and bringing its total to 20,449 shares worth about $4.4 million.
• Charter shares were down 1.3% to $135.44, with the stock trading far below its 52-week high of $422.29 and showing a market value of $16.66 billion.
• Charter’s latest earnings missed analyst EPS expectations, reporting $9.17 per share versus $10.01 expected, while revenue came in slightly above forecasts at $13.60 billion.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 72.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,449 shares of the company's stock after buying an additional 8,560 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Charter Communications were worth $4,415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CHTR. Quarry LP increased its stake in shares of Charter Communications by 153.2% in the fourth quarter. Quarry LP now owns 119 shares of the company's stock worth $25,000 after acquiring an additional 72 shares during the period. Altshuler Shaham Ltd acquired a new stake in Charter Communications during the 4th quarter worth about $25,000. DV Equities LLC purchased a new position in shares of Charter Communications during the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. boosted its stake in shares of Charter Communications by 141.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $35,000 after buying an additional 55 shares during the last quarter. Finally, Manchester Capital Management LLC raised its position in Charter Communications by 1,600.0% during the fourth quarter. Manchester Capital Management LLC now owns 187 shares of the company's stock valued at $39,000 after acquiring an additional 176 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Trading Down 1.3%

Shares of Charter Communications stock opened at $135.44 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications, Inc. has a twelve month low of $124.05 and a twelve month high of $422.29. The firm has a market capitalization of $16.66 billion, a PE ratio of 3.66, a P/E/G ratio of 0.24 and a beta of 0.71. The firm's 50-day moving average price is $145.77 and its 200 day moving average price is $191.99.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing analysts' consensus estimates of $10.01 by ($0.84). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.56 billion. During the same period in the previous year, the company earned $8.42 EPS. Charter Communications's revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Charter Communications, Inc. will post 42.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on CHTR shares. The Goldman Sachs Group lowered their price objective on Charter Communications from $185.00 to $125.00 and set a "sell" rating on the stock in a research report on Thursday, July 2nd. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $210.00 price objective on shares of Charter Communications in a report on Tuesday, May 26th. Benchmark decreased their price objective on shares of Charter Communications from $455.00 to $435.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Citigroup dropped their target price on Charter Communications from $230.00 to $190.00 and set a "buy" rating on the stock in a research report on Monday, June 29th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $235.00 price target on shares of Charter Communications in a report on Thursday, June 25th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $260.06.

Insider Transactions at Charter Communications

In related news, Director Mauricio Ramos bought 9,929 shares of the stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $140.93 per share, for a total transaction of $1,399,293.97. Following the acquisition, the director directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wade Davis purchased 5,728 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was bought at an average cost of $173.72 per share, with a total value of $995,068.16. Following the acquisition, the director owned 6,925 shares of the company's stock, valued at approximately $1,203,011. The trade was a 478.53% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 20,125 shares of company stock valued at $3,167,116. Company insiders own 1.10% of the company's stock.

Charter Communications 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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