Forsta AP Fonden Reduces Stake in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Forsta AP Fonden reduced its stake in Charter Communications by 6.6% in the first quarter, now holding 17,100 shares valued at approximately $6.3 million.
• CEO Christopher L. Winfrey and Director Balan Nair both purchased shares of Charter Communications, indicating confidence in the company's future performance.
• The stock recently traded at $256.57, down 0.9%, with mixed analyst ratings including upgrades, downgrades, and an average price target of $410.59.

Forsta AP Fonden reduced its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,100 shares of the company's stock after selling 1,200 shares during the quarter. Forsta AP Fonden's holdings in Charter Communications were worth $6,302,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CHTR. ST Germain D J Co. Inc. lifted its stake 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 valued at $31,000 after purchasing an additional 77 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in Charter Communications by 93.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock worth $31,000 after acquiring an additional 41 shares in the last quarter. Larson Financial Group LLC lifted its stake in Charter Communications by 70.2% during the 1st quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after acquiring an additional 40 shares in the last quarter. Costello Asset Management INC acquired a new position in Charter Communications during the 1st quarter worth about $37,000. Finally, NBC Securities Inc. acquired a new position in Charter Communications during the 1st quarter worth about $47,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Charter Communications

In other Charter Communications news, Director Balan Nair purchased 360 shares of Charter Communications stock in a transaction dated Thursday, July 31st. The stock was acquired at an average cost of $274.21 per share, with a total value of $98,715.60. Following the acquisition, the director directly owned 9,622 shares of the company's stock, valued at $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher L. Winfrey acquired 3,670 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the completion of the purchase, the chief executive officer directly owned 70,243 shares in the company, valued at $19,183,363.30. This represents 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.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CHTR. Wall Street Zen raised Charter Communications from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Royal Bank Of Canada decreased their target price on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a research note on Monday, July 28th. Wells Fargo & Company increased their target price on Charter Communications from $380.00 to $400.00 and gave the stock an "equal weight" rating in a research note on Monday, April 28th. Arete Research upgraded Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Finally, Oppenheimer upgraded Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price target on the stock in a report on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Charter Communications has a consensus rating of "Hold" and an average price target of $410.59.

Charter Communications Stock Performance

Charter Communications stock traded down $5.70 during mid-day trading on Thursday, reaching $263.30. 1,735,937 shares of the company were exchanged, compared to its average volume of 1,485,502. Charter Communications, Inc. has a twelve month low of $254.67 and a twelve month high of $437.06. The firm's 50-day simple moving average is $360.66 and its two-hundred day simple moving average is $365.94. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $35.96 billion, a PE ratio of 7.21, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02.

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 analysts' consensus estimates of $10.06 by ($0.88). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%. The company had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same period in the previous year, the business posted $8.49 earnings per share. The firm's revenue was up .6% compared to the same quarter last year. Equities analysts predict that Charter Communications, Inc. will post 38.16 earnings per share 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.