Charter Communications, Inc. $CHTR Shares Purchased by Focus Partners Wealth

Key Points

• Focus Partners Wealth significantly increased its stake in Charter Communications by 118.3% in the first quarter, now holding 4,640 shares valued at approximately $1.71 million.
• Insider activity reports reveal that CEO Christopher L. Winfrey purchased 3,670 shares, increasing his ownership by 5.51%, while the company has a significant portion of its stock owned by institutional investors at 81.76%.
• Charter Communications reported earnings of $9.18 per share for the last quarter, missing expectations, although its revenue slightly exceeded estimates, indicating a 0.6% year-over-year growth.

Focus Partners Wealth grew its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 118.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,640 shares of the company's stock after purchasing an additional 2,514 shares during the period. Focus Partners Wealth's holdings in Charter Communications were worth $1,710,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in Charter Communications by 43,296.0% in the 1st quarter. GAMMA Investing LLC now owns 857,938 shares of the company's stock worth $316,176,000 after acquiring an additional 855,961 shares during the period. JPMorgan Chase & Co. grew its holdings in Charter Communications by 53.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock worth $851,331,000 after acquiring an additional 806,145 shares during the period. Dimensional Fund Advisors LP lifted its stake in Charter Communications by 22.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company's stock valued at $405,118,000 after buying an additional 198,444 shares during the period. Nuveen LLC bought a new position in shares of Charter Communications during the first quarter worth $71,956,000. Finally, Allianz Asset Management GmbH grew its stake in Charter Communications by 42.2% in the first 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 during the period. Institutional investors and hedge funds own 81.76% of the company's stock.

Analysts Set New Price Targets

CHTR has been the subject of several research reports. Wolfe Research raised shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a research note on Friday, June 20th. Wells Fargo & Company began coverage on Charter Communications in a research note on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 price target on the stock. Sanford C. Bernstein dropped their price target on Charter Communications from $380.00 to $350.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 10th. Arete Research upgraded shares of Charter Communications to a "strong sell" rating in a research report on Tuesday, July 8th. Finally, Bank of America increased their target price on Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $392.94.

Charter Communications Stock Up 0.1%

NASDAQ:CHTR traded up $0.38 during mid-day trading on Friday, hitting $262.55. The stock had a trading volume of 3,206,409 shares, compared to its average volume of 1,756,991. Charter Communications, Inc. has a twelve month low of $251.80 and a twelve month high of $437.06. The company has a market capitalization of $35.86 billion, a PE ratio of 7.19, a PEG ratio of 0.59 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. The stock has a 50-day simple moving average of $288.99 and a two-hundred day simple moving average of $348.98.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings data 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). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same period in the previous year, the company posted $8.49 earnings per share. Charter Communications's revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current year.

Insider Buying and Selling at Charter Communications

In other Charter Communications news, CEO Christopher L. Winfrey bought 3,670 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were acquired at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Balan Nair bought 360 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was bought at an average cost of $274.21 per share, with a total value of $98,715.60. Following the transaction, the director directly owned 9,622 shares in the company, valued at approximately $2,638,448.62. The trade was a 3.89% increase in their position. The disclosure for this purchase can be found here. 0.83% of the stock is owned by insiders.

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.