Fulton Breakefield Broenniman LLC Acquires New Shares in Charter Communications, Inc. $CHTR

Key Points

• Fulton Breakefield Broenniman LLC acquired 1,930 shares of Charter Communications, valued at approximately $789,000, marking a new stake in the company.
• Insider transactions revealed that Director Balan Nair and CEO Christopher L. Winfrey increased their holdings by purchasing 360 and 3,670 shares, respectively.
• Analysts have set various price targets for Charter Communications, with Citigroup issuing a "buy" rating with a target of $325.00, while other firms have adjusted their ratings and price objectives.

Fulton Breakefield Broenniman LLC acquired a new stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,930 shares of the company's stock, valued at approximately $789,000.

A number of other institutional investors have also recently bought and sold shares of CHTR. JPMorgan Chase & Co. boosted its position in Charter Communications by 53.6% during the first quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock valued at $851,331,000 after purchasing an additional 806,145 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Charter Communications by 22.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company's stock worth $405,118,000 after buying an additional 198,444 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Charter Communications in the first quarter worth about $71,956,000. Allianz Asset Management GmbH lifted its position in shares of Charter Communications by 42.2% in the first quarter. Allianz Asset Management GmbH now owns 500,947 shares of the company's stock worth $184,614,000 after buying an additional 148,569 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Charter Communications by 7.0% in the first quarter. Invesco Ltd. now owns 1,834,807 shares of the company's stock worth $676,181,000 after buying an additional 120,624 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company's stock.

Insider Activity at Charter Communications

In other news, Director Balan Nair purchased 360 shares of the business's stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $274.21 per share, with a total value of $98,715.60. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the business's stock in a transaction 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 acquisition, the chief executive officer owned 70,243 shares in the company, valued at approximately $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. Corporate insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CHTR. Citigroup began coverage on Charter Communications in a research report on Monday. They issued a "buy" rating and a $325.00 price target for the company. Wolfe Research raised Charter Communications from an "underperform" rating to a "peer perform" rating in a research report on Friday, June 20th. KeyCorp reduced their price target on Charter Communications from $500.00 to $430.00 and set an "overweight" rating for the company in a research report on Friday, October 3rd. Royal Bank Of Canada dropped their price objective on Charter Communications from $370.00 to $325.00 and set a "sector perform" rating on the stock in a research note on Monday. Finally, Wells Fargo & Company started coverage on Charter Communications in a research note on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $373.71.

Charter Communications Trading Down 0.8%

Charter Communications stock opened at $274.37 on Thursday. The business has a 50 day moving average price of $266.80 and a two-hundred day moving average price of $341.01. 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 stock has a market cap of $37.48 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 0.62 and a beta of 1.05. Charter Communications, Inc. has a 12 month low of $251.80 and a 12 month high of $437.06.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing the consensus estimate of $10.06 by ($0.88). The firm 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 company's revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $8.49 EPS. As a group, equities analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current 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.

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