Senator Investment Group LP Lowers Stock Holdings in Charter Communications, Inc. $CHTR

Key Points

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Senator Investment Group LP trimmed its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,555 shares of the company's stock after selling 39,237 shares during the quarter. Charter Communications accounts for approximately 2.0% of Senator Investment Group LP's investment portfolio, making the stock its 23rd largest holding. Senator Investment Group LP owned approximately 0.07% of Charter Communications worth $38,163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CHTR. SouthState Corp bought a new stake in shares of Charter Communications in the first quarter valued at about $25,000. ST Germain D J Co. Inc. raised its holdings in shares of 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 acquiring an additional 77 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Charter Communications by 93.2% in the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock valued at $31,000 after acquiring an additional 41 shares in the last quarter. Strengthening Families & Communities LLC bought a new stake in shares of Charter Communications in the first quarter valued at about $33,000. Finally, Larson Financial Group LLC raised its holdings 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 acquiring an additional 40 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

Insider Activity at Charter Communications

In other Charter Communications news, Director Balan Nair bought 360 shares of Charter Communications stock in a transaction dated Thursday, July 31st. The stock was acquired at an average cost of $274.21 per share, with a total value of $98,715.60. Following the purchase, the director directly owned 9,622 shares in the company, valued at $2,638,448.62. This represents a 3.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher L. Winfrey bought 3,670 shares of Charter Communications stock in a transaction dated 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 purchase, the chief executive officer owned 70,243 shares in the company, 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.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of Charter Communications in a report on Thursday. They issued an "equal weight" rating and a $300.00 target price for the company. Morgan Stanley boosted their target price on shares of Charter Communications from $385.00 to $415.00 and gave the stock an "equal weight" rating in a report on Monday, April 28th. UBS Group reduced their target price on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Bank of America boosted their target price 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. Finally, Sanford C. Bernstein upgraded shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 target price for the company in a report on Monday, July 28th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $404.71.

Charter Communications Stock Up 3.6%

Shares of CHTR traded up $9.60 during mid-day trading on Friday, hitting $277.58. 1,820,510 shares of the company traded hands, compared to its average volume of 2,806,755. Charter Communications, Inc. has a 1-year low of $254.67 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 market capitalization of $37.91 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 0.60 and a beta of 1.02. The business has a 50 day moving average of $342.72 and a 200 day moving average of $361.95.

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

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.