E Fund Management Co. Ltd. Acquires 1,949 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• E Fund Management Co. Ltd. increased its holdings in Charter Communications by 101.9%, now owning 3,862 shares valued at approximately $1.42 million.
• Several large investors, including Price T Rowe Associates and GAMMA Investing, significantly boosted their stakes in Charter Communications, with 81.76% of the stock owned by institutional investors.
• Charter Communications recently reported $9.18 earnings per share, missing the consensus estimate, while its revenue was approximately $13.77 billion, slightly above analysts' expectations.

E Fund Management Co. Ltd. grew its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 101.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,862 shares of the company's stock after acquiring an additional 1,949 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Charter Communications were worth $1,423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CHTR. Makaira Partners LLC lifted its position in Charter Communications by 4.0% during the fourth quarter. Makaira Partners LLC now owns 373,191 shares of the company's stock worth $127,919,000 after buying an additional 14,510 shares during the period. Private Trust Co. NA raised its holdings in shares of Charter Communications by 69.5% during the 1st quarter. Private Trust Co. NA now owns 161 shares of the company's stock valued at $59,000 after buying an additional 66 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Charter Communications by 21.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,893 shares of the company's stock valued at $1,435,000 after buying an additional 676 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Charter Communications by 25.2% during the 1st quarter. Vontobel Holding Ltd. now owns 1,649 shares of the company's stock valued at $608,000 after buying an additional 332 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Charter Communications by 20.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 33,471 shares of the company's stock valued at $12,335,000 after buying an additional 5,642 shares during the period. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Trading Up 1.7%

Shares of Charter Communications stock traded up $4.60 on Friday, reaching $267.80. 1,697,732 shares of the company were exchanged, compared to its average volume of 2,785,035. The stock has a fifty day moving average price of $355.53 and a 200-day moving average price of $364.59. The firm has a market capitalization of $36.58 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 0.60 and a beta of 1.02. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. Charter Communications, Inc. has a fifty-two week low of $254.67 and a fifty-two week high of $437.06.

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 analysts' consensus estimates of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The business had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $13.76 billion. During the same quarter in the prior year, the firm posted $8.49 EPS. The business's quarterly revenue was up .6% compared to the same quarter last year. On average, analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Charter Communications from $380.00 to $400.00 and gave the stock an "equal weight" rating in a report on Monday, April 28th. Arete Research upgraded Charter Communications to a "strong sell" rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their price objective on Charter Communications from $385.00 to $415.00 and gave the company an "equal weight" rating in a research report on Monday, April 28th. Wall Street Zen upgraded Charter Communications from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Finally, UBS Group dropped their price objective on Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Three 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $410.59.

Insiders Place Their Bets

In other news, CEO Christopher L. Winfrey bought 3,670 shares of the company's stock in a transaction on Thursday, July 31st. The shares were bought at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the transaction, the chief executive officer directly owned 70,243 shares in the company, valued at approximately $19,183,363.30. This trade represents a 5.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Balan Nair bought 360 shares of the company's stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the transaction, the director owned 9,622 shares in the company, valued at approximately $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. Insiders own 0.83% of the company's stock.

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.