Empowered Funds LLC Raises Stock Position in Charter Communications, Inc. $CHTR

Key Points

• Empowered Funds LLC increased its stake in Charter Communications, Inc. by 132.7%, acquiring an additional 9,040 shares, bringing its total holdings to 15,854 shares valued at approximately $5.84 million.
• Several large investors have also made significant moves with Charter Communications, including MBB Public Markets I LLC and United Services Automobile Association, highlighting strong institutional interest with 81.76% of the company owned by institutional investors.
• Wall Street analysts offered mixed ratings for Charter Communications, with eight analysts rating it as a "Buy" while the stock's overall consensus price target is $392.94.

Empowered Funds LLC raised its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 132.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,854 shares of the company's stock after buying an additional 9,040 shares during the quarter. Empowered Funds LLC's holdings in Charter Communications were worth $5,843,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CHTR. SouthState Corp purchased a new position in Charter Communications during the first quarter valued at $25,000. ST Germain D J Co. Inc. increased its holdings in shares of Charter Communications by 1,283.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock worth $31,000 after purchasing an additional 77 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Charter Communications by 93.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock worth $31,000 after purchasing an additional 41 shares in the last quarter. Strengthening Families & Communities LLC bought a new stake in shares of Charter Communications in the 1st quarter worth $33,000. Finally, Larson Financial Group LLC increased its holdings in shares of Charter Communications by 70.2% in the 1st quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company's stock.

Analyst Upgrades and Downgrades

CHTR has been the subject of a number of research analyst reports. UBS Group reduced their target price on Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Barclays reduced their target price on Charter Communications from $341.00 to $275.00 and set an "underweight" rating for the company in a report on Monday, July 28th. Bank of America lifted their target price on Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Sanford C. Bernstein reduced their target price on Charter Communications from $380.00 to $350.00 and set an "outperform" rating for the company in a report on Wednesday, September 10th. Finally, Wolfe Research raised Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Charter Communications has a consensus rating of "Hold" and an average target price of $392.94.

Insiders Place Their Bets

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

Charter Communications Trading Up 3.5%

Shares of CHTR traded up $9.21 on Wednesday, hitting $270.29. 469,928 shares of the stock traded hands, compared to its average volume of 1,517,446. 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 capitalization of $36.92 billion, a P/E ratio of 7.41, a P/E/G ratio of 0.58 and a beta of 1.02. The stock's 50 day moving average is $297.08 and its two-hundred day moving average is $351.03. Charter Communications, Inc. has a 1 year low of $251.80 and a 1 year high of $437.06.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced 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). The company had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $8.49 EPS. As a group, sell-side analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

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.