Douglas Lane & Associates LLC Has $57.94 Million Stake in Charter Communications, Inc. $CHTR

Key Points

• Douglas Lane & Associates LLC reduced its holdings in Charter Communications by 30.7%, selling 62,715 shares, and now owns 141,734 shares valued at approximately $57.9 million.
• Other investors, including Makaira Partners LLC and Private Trust Co. NA, have increased their stakes in Charter, with institutional investors collectively owning 81.76% of the company's stock.
• Charter Communications reported a miss in earnings for the quarter with an EPS of $9.18, below the analysts' consensus estimate of $10.06, despite having a revenue of $13.77 billion.

Douglas Lane & Associates LLC decreased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 30.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,734 shares of the company's stock after selling 62,715 shares during the quarter. Douglas Lane & Associates LLC owned about 0.10% of Charter Communications worth $57,942,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CHTR. Makaira Partners LLC lifted its holdings in Charter Communications by 4.0% in the fourth quarter. Makaira Partners LLC now owns 373,191 shares of the company's stock worth $127,919,000 after purchasing an additional 14,510 shares during the period. Captrust Financial Advisors lifted its holdings in Charter Communications by 40.2% in the fourth quarter. Captrust Financial Advisors now owns 1,739 shares of the company's stock worth $596,000 after purchasing an additional 499 shares during the period. Focus Partners Wealth lifted its holdings in Charter Communications by 36.8% in the fourth quarter. Focus Partners Wealth now owns 2,126 shares of the company's stock worth $729,000 after purchasing an additional 572 shares during the period. OMERS ADMINISTRATION Corp lifted its holdings in Charter Communications by 20.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 4,039 shares of the company's stock worth $1,384,000 after purchasing an additional 677 shares during the period. Finally, Man Group plc lifted its holdings in Charter Communications by 236.4% in the fourth quarter. Man Group plc now owns 61,132 shares of the company's stock worth $20,954,000 after purchasing an additional 42,959 shares during the period. Institutional investors and hedge funds own 81.76% of the company's stock.

Insider Buying and Selling

In related news, Director Balan Nair bought 360 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $274.21 per share, with a total value of $98,715.60. Following the completion of the transaction, the director directly owned 9,622 shares of the company's stock, valued at $2,638,448.62. This trade represents a 3.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher L. Winfrey bought 3,670 shares of the firm's stock in a transaction 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 approximately $19,183,363.30. This trade represents a 5.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.83% of the company's stock.

Charter Communications Stock Down 2.2%

Shares of CHTR traded down $5.80 during trading hours on Thursday, reaching $262.22. The company's stock had a trading volume of 1,372,495 shares, compared to its average volume of 1,525,801. The firm has a market cap of $35.82 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 0.58 and a beta of 1.02. Charter Communications, Inc. has a 1-year low of $251.80 and a 1-year high of $437.06. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. The company has a 50 day moving average of $294.37 and a two-hundred day moving average of $350.46.

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

Analyst Ratings Changes

CHTR has been the subject of several research analyst reports. Bank of America upped their price objective on shares of Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Sanford C. Bernstein dropped their price target on shares of Charter Communications from $380.00 to $350.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 10th. Wells Fargo & Company started coverage on shares of Charter Communications in a research report on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 price target on the stock. UBS Group dropped their price target on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Finally, The Goldman Sachs Group started coverage on shares of Charter Communications in a research report on Tuesday, September 2nd. They issued a "sell" rating and a $223.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $392.94.

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.