Swedbank AB Acquires 3,305 Shares of Charter Communications, Inc. $CHTR

Key Points

• Swedbank AB increased its holdings in Charter Communications by 8.0% in the second quarter, now owning 44,423 shares valued at approximately $18.16 million.
• A group of institutional investors, including Vanguard and JPMorgan Chase, have also significantly boosted their stakes in the company, with institutional ownership now at 81.76%.
• Charter Communications missed earnings expectations for the last quarter, reporting $9.18 EPS against a consensus of $10.06, while its revenue increased by 0.6% year-over-year.

Swedbank AB raised its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,423 shares of the company's stock after acquiring an additional 3,305 shares during the quarter. Swedbank AB's holdings in Charter Communications were worth $18,161,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Gamco Investors INC. ET AL increased its stake in shares of Charter Communications by 0.8% during the first quarter. Gamco Investors INC. ET AL now owns 3,128 shares of the company's stock worth $1,153,000 after purchasing an additional 25 shares during the period. Allworth Financial LP grew its holdings in Charter Communications by 10.5% in the 1st quarter. Allworth Financial LP now owns 283 shares of the company's stock valued at $104,000 after buying an additional 27 shares in the last quarter. Hemington Wealth Management increased its position in Charter Communications by 24.3% during the 1st quarter. Hemington Wealth Management now owns 143 shares of the company's stock worth $52,000 after buying an additional 28 shares during the period. Brown Advisory Inc. increased its position in Charter Communications by 1.1% during the 1st quarter. Brown Advisory Inc. now owns 2,704 shares of the company's stock worth $997,000 after buying an additional 29 shares during the period. Finally, Kathmere Capital Management LLC lifted its holdings in shares of Charter Communications by 3.8% during the first quarter. Kathmere Capital Management LLC now owns 876 shares of the company's stock worth $323,000 after buying an additional 32 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charter Communications

In related news, Director Balan Nair bought 360 shares of the business's stock in a transaction on Thursday, July 31st. The shares were purchased at an average cost of $274.21 per share, with a total value of $98,715.60. Following the acquisition, the director owned 9,622 shares of the company's stock, valued at $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the acquisition, the chief executive officer owned 70,243 shares in the company, valued at approximately $19,183,363.30. The trade was a 5.51% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.83% of the company's stock.

Charter Communications Price Performance

Shares of NASDAQ CHTR traded up $3.73 during midday trading on Tuesday, reaching $269.86. 1,177,062 shares of the company were exchanged, compared to its average volume of 1,538,318. The stock's 50-day moving average price is $286.32 and its 200-day moving average price is $347.74. The stock has a market cap of $36.86 billion, a P/E ratio of 7.40, a PEG ratio of 0.59 and a beta of 1.02. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. Charter Communications, Inc. has a one year low of $251.80 and a one year high of $437.06.

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

Wall Street Analysts Forecast Growth

CHTR has been the topic of several research reports. Barclays decreased their price target on shares of Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a research note on Monday, July 28th. Wells Fargo & Company assumed coverage on shares of Charter Communications in a report on Thursday, August 21st. They set an "equal weight" rating and a $300.00 target price on the stock. Wolfe Research upgraded shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a research report on Friday, June 20th. The Goldman Sachs Group assumed coverage on Charter Communications in a research report on Tuesday, September 2nd. They set a "sell" rating and a $223.00 price target on the stock. Finally, Arete Research raised Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $392.94.

Charter Communications Profile

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.