Charter Communications, Inc. $CHTR Holdings Lowered by Kodai Capital Management LP

Key Points

• Kodai Capital Management LP reduced its stake in Charter Communications by 3.7%, now holding 147,504 shares valued at approximately $54.36 million.
• Recent reports from analysts have seen ratings for Charter Communications improve, with eight analysts giving it a Buy rating and a consensus target price of $404.71.
• Charter Communications reported earnings of $9.18 per share for the last quarter, which was below the expected $10.06, while its revenue reported was slightly above estimates at $13.77 billion.

Kodai Capital Management LP cut its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,504 shares of the company's stock after selling 5,593 shares during the period. Charter Communications makes up 2.1% of Kodai Capital Management LP's holdings, making the stock its 7th biggest holding. Kodai Capital Management LP owned approximately 0.11% of Charter Communications worth $54,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in CHTR. SouthState Corp purchased a new position in shares of Charter Communications during the 1st quarter worth approximately $25,000. ST Germain D J Co. Inc. raised its position in Charter Communications by 1,283.3% in the first quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock valued at $31,000 after purchasing an additional 77 shares during the period. SBI Securities Co. Ltd. lifted its stake 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. Strengthening Families & Communities LLC purchased a new position in shares of Charter Communications during the first quarter worth $33,000. Finally, Larson Financial Group LLC grew its stake in shares of Charter Communications by 70.2% in the first quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after buying an additional 40 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Stock Up 0.7%

NASDAQ:CHTR traded up $1.95 during mid-day trading on Friday, hitting $265.58. The stock had a trading volume of 1,707,578 shares, compared to its average volume of 1,918,925. Charter Communications, Inc. has a twelve month low of $254.67 and a twelve month high of $437.06. The stock has a 50-day simple moving average of $331.68 and a two-hundred day simple moving average of $359.20. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. The company has a market capitalization of $36.28 billion, a PE ratio of 7.27, a PEG ratio of 0.60 and a beta of 1.02.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $13.76 billion. During the same quarter last year, the firm earned $8.49 EPS. The company's revenue was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CHTR shares. Sanford C. Bernstein raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 target price on the stock in a research note on Monday, July 28th. Arete Research raised shares of Charter Communications to a "strong sell" rating in a research report on Tuesday, July 8th. Wells Fargo & Company began coverage on shares of Charter Communications in a research note on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 price objective for the company. Royal Bank Of Canada cut 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 note on Monday, July 28th. Finally, Bank of America raised their price target on shares of Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $404.71.

Insider Buying and Selling at Charter Communications

In other Charter Communications news, Director Balan Nair purchased 360 shares of the business's stock in a transaction on Thursday, July 31st. The shares were bought at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the purchase, the director directly owned 9,622 shares in the company, valued at approximately $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were acquired at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the completion of the acquisition, the chief executive officer directly owned 70,243 shares in the company, valued at $19,183,363.30. The trade was 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.

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.