Comerica Bank Purchases 1,465 Shares of Charter Communications, Inc. $CHTR

Key Points

• Comerica Bank increased its holdings in Charter Communications by 9.7%, acquiring an additional 1,465 shares during the first quarter, bringing its total to 16,612 shares valued at approximately $6.12 million.
• CEO Christopher L. Winfrey and Director Balan Nair both made personal investments in the company, increasing their respective holdings by 5.51% and 3.89%.
• Charter Communications missed earnings expectations with $9.18 per share, compared to analyst estimates of $10.06, despite a slight year-over-year revenue increase.

Comerica Bank lifted its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,612 shares of the company's stock after acquiring an additional 1,465 shares during the quarter. Comerica Bank's holdings in Charter Communications were worth $6,122,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CHTR. GAMMA Investing LLC lifted its position in shares of Charter Communications by 43,296.0% in the 1st quarter. GAMMA Investing LLC now owns 857,938 shares of the company's stock valued at $316,176,000 after acquiring an additional 855,961 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Charter Communications by 53.6% in the 1st quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock valued at $851,331,000 after acquiring an additional 806,145 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Charter Communications by 22.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company's stock valued at $405,118,000 after acquiring an additional 198,444 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Charter Communications in the 1st quarter valued at approximately $71,956,000. Finally, Allianz Asset Management GmbH lifted its position in shares of Charter Communications by 42.2% in the 1st quarter. Allianz Asset Management GmbH now owns 500,947 shares of the company's stock valued at $184,614,000 after acquiring an additional 148,569 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company's stock.

Charter Communications Stock Up 0.7%

Shares of CHTR traded up $1.95 during mid-day trading on Monday, hitting $265.58. 1,707,578 shares of the company's stock were exchanged, compared to its average volume of 1,918,925. The firm has a fifty day moving average of $331.68 and a two-hundred day moving average of $359.20. Charter Communications, Inc. has a twelve month low of $254.67 and a twelve month high of $437.06. The stock has a market cap of $36.28 billion, a price-to-earnings ratio of 7.27, a P/E/G ratio of 0.60 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 (NASDAQ:CHTR - Get Free Report) last announced 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 business had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same quarter last year, the company earned $8.49 EPS. The business's revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CHTR shares. Barclays dropped their price objective 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. Sanford C. Bernstein upgraded shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 price objective on the stock in a research note on Monday, July 28th. Wolfe Research upgraded shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a research note on Friday, June 20th. Oppenheimer upgraded shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price objective on the stock in a research note on Friday, May 16th. Finally, Arete Research upgraded shares of Charter Communications to a "strong sell" rating in a research note on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Charter Communications 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, CEO Christopher L. Winfrey purchased 3,670 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were bought at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the purchase, the chief executive officer directly owned 70,243 shares in the company, valued at $19,183,363.30. This trade represents a 5.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Balan Nair purchased 360 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the purchase, the director owned 9,622 shares in the company, valued at $2,638,448.62. The trade was a 3.89% 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 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.