Commerce Bank Reduces Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Commerce Bank reduced its stake in Charter Communications by 23%, now holding 3,562 shares worth approximately $1.31 million.
• Insider transactions include Director Balan Nair and CEO Christopher L. Winfrey purchasing 360 and 3,670 shares, respectively, indicating increased confidence in the company's performance.
• Recent earnings from Charter Communications reported $9.18 earnings per share, missing expectations, while revenue increased 0.6% year-over-year.

Commerce Bank lowered its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 23.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,562 shares of the company's stock after selling 1,066 shares during the period. Commerce Bank's holdings in Charter Communications were worth $1,313,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CHTR. Wellington Management Group LLP bought a new position in Charter Communications during the 4th quarter valued at $3,532,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Charter Communications in the 4th quarter worth approximately $9,697,000. Aviva PLC grew its holdings in shares of Charter Communications by 84.9% in the fourth quarter. Aviva PLC now owns 38,330 shares of the company's stock valued at $13,138,000 after acquiring an additional 17,596 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Charter Communications by 5.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 27,829 shares of the company's stock worth $9,539,000 after acquiring an additional 1,371 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Charter Communications by 45.1% in the fourth quarter. Russell Investments Group Ltd. now owns 159,775 shares of the company's stock worth $54,770,000 after purchasing an additional 49,647 shares during the last quarter. 81.76% of the stock is owned by institutional investors.

Insider Activity at Charter Communications

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CHTR. Raymond James Financial upgraded shares of Charter Communications from an "underperform" rating to a "market perform" rating in a research note on Monday, May 19th. Oppenheimer raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 target price for the company in a research report on Friday, May 16th. Barclays cut their price target on Charter Communications from $341.00 to $275.00 and set an "underweight" rating for the company in a research note on Monday, July 28th. Royal Bank Of Canada reduced their price objective on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" rating for the company in a research note on Monday, July 28th. Finally, Wall Street Zen raised Charter Communications from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $410.59.

Charter Communications Stock Performance

CHTR traded down $1.02 during trading on Friday, hitting $257.77. The company's stock had a trading volume of 1,041,818 shares, compared to its average volume of 1,470,893. 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 firm has a market cap of $35.21 billion, a PE ratio of 7.07, a P/E/G ratio of 0.59 and a beta of 1.02. Charter Communications, Inc. has a one year low of $257.03 and a one year high of $437.06. The business's 50 day simple moving average is $371.06 and its 200-day simple moving average is $368.59.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. Charter Communications's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.49 EPS. As a group, sell-side analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Charter Communications Company 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.