Dimensional Fund Advisors LP Sells 95,633 Shares of Charter Communications, Inc. $CHTR

Key Points

• Dimensional Fund Advisors LP cut its Charter Communications stake by 5.3% in the first quarter, selling 95,633 shares and leaving it with 1.70 million shares valued at about $367.4 million.
• Insider activity was mixed: Director Wade Davis bought 5,728 shares, while Director Thomas Rutledge sold 18,200 shares. Overall, insiders bought more shares than they sold over the last three months.
• Charter’s latest results and stock performance remain under pressure, with quarterly EPS of $9.17 missing estimates even as revenue slightly beat expectations. The stock has fallen sharply from its 52-week high, and several analysts have lowered price targets or issued cautious ratings.

Dimensional Fund Advisors LP lessened its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,701,162 shares of the company's stock after selling 95,633 shares during the period. Dimensional Fund Advisors LP owned 1.38% of Charter Communications worth $367,355,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its holdings in Charter Communications by 3.8% in the second quarter. Advisory Services Network LLC now owns 1,028 shares of the company's stock valued at $420,000 after buying an additional 38 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in Charter Communications by 1.7% during the second quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company's stock worth $988,000 after acquiring an additional 41 shares in the last quarter. Occudo Quantitative Strategies LP lifted its holdings in shares of Charter Communications by 1.4% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company's stock valued at $1,255,000 after purchasing an additional 41 shares in the last quarter. Pure Financial Advisors LLC boosted its holdings in shares of Charter Communications by 4.1% in the fourth quarter. Pure Financial Advisors LLC now owns 1,116 shares of the company's stock valued at $233,000 after buying an additional 44 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its stake in Charter Communications by 3.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,426 shares of the company's stock worth $392,000 after purchasing an additional 49 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Charter Communications

In related news, Director Wade Davis purchased 5,728 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was acquired at an average cost of $173.72 per share, with a total value of $995,068.16. Following the transaction, the director owned 6,925 shares of the company's stock, valued at $1,203,011. This represents a 478.53% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Rutledge sold 18,200 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the transaction, the director directly owned 3,968 shares in the company, valued at $583,057.92. The trade was a 82.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have purchased a total of 20,125 shares of company stock valued at $3,167,116 in the last three months. Insiders own 1.10% of the company's stock.

Charter Communications Stock Performance

CHTR stock opened at $127.79 on Wednesday. The stock has a 50-day moving average price of $137.07 and a 200-day moving average price of $185.58. The firm has a market cap of $15.72 billion, a PE ratio of 3.45, a price-to-earnings-growth ratio of 0.23 and a beta of 0.71. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications, Inc. has a 1-year low of $124.05 and a 1-year high of $402.15.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings data on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing the consensus estimate of $10.01 by ($0.84). The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The company's revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.42 EPS. As a group, equities research analysts expect that Charter Communications, Inc. will post 41.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CHTR. The Goldman Sachs Group reduced their price target on Charter Communications from $185.00 to $125.00 and set a "sell" rating for the company in a research report on Thursday, July 2nd. Benchmark cut their target price on shares of Charter Communications from $455.00 to $435.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Wells Fargo & Company reduced their price objective on shares of Charter Communications from $170.00 to $160.00 and set an "underweight" rating for the company in a research report on Tuesday, July 7th. Royal Bank Of Canada reduced their price objective on Charter Communications from $220.00 to $160.00 and set a "sector perform" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Charter Communications from $215.00 to $200.00 and set a "neutral" rating on the stock in a research report on Monday. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $249.12.

Charter Communications Company Profile

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter's service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company's consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.

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