Invesco Ltd. Acquires 120,624 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Invesco Ltd. increased its stake in Charter Communications, purchasing an additional 120,624 shares, which brought its total ownership to approximately 1.31% of the company, valued at $676.2 million.
• A number of institutional investors, including Vanguard Group and JPMorgan Chase, have also raised their holdings in Charter Communications, reflecting strong institutional interest in the company.
• Charter Communications reported $9.18 EPS for the latest quarter, missing analysts' estimates, despite revenue of $13.77 billion exceeding expectations.

Invesco Ltd. lifted its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,834,807 shares of the company's stock after purchasing an additional 120,624 shares during the quarter. Invesco Ltd. owned about 1.31% of Charter Communications worth $676,181,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ST Germain D J Co. Inc. increased its stake in shares of Charter Communications by 1,283.3% in the first 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. grew its position in Charter Communications by 93.2% during the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock worth $31,000 after buying an additional 41 shares in the last quarter. Larson Financial Group LLC increased its stake in 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 acquiring an additional 40 shares during the last quarter. Costello Asset Management INC purchased a new stake in shares of Charter Communications in the 1st quarter valued at about $37,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Charter Communications during the first quarter worth about $40,000. Institutional investors own 81.76% of the company's stock.

Charter Communications Trading Down 2.5%

NASDAQ CHTR traded down $6.76 on Thursday, hitting $262.24. The company's stock had a trading volume of 999,752 shares, compared to its average volume of 1,481,650. The firm has a market cap of $35.82 billion, a P/E ratio of 7.18, a PEG ratio of 0.59 and a beta of 1.02. Charter Communications, Inc. has a 52-week low of $254.67 and a 52-week high of $437.06. The company's 50-day simple moving average is $360.66 and its 200 day simple moving average is $365.94. 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 (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). The business had revenue of $13.77 billion during the quarter, compared to analysts' expectations of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%. The business's revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $8.49 EPS. Research analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CHTR shares. Wolfe Research upgraded shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a research report on Friday, June 20th. Royal Bank Of Canada dropped their price objective on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" 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 on the stock in a research note on Monday, July 28th. Oppenheimer raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price target for the company in a research note on Friday, May 16th. Finally, Bank of America upped their price objective on Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Charter Communications has an average rating of "Hold" and a consensus target price of $410.59.

Insider Activity

In related news, CEO Christopher L. Winfrey acquired 3,670 shares of the stock in a transaction on Thursday, July 31st. The stock was acquired at an average cost of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the acquisition, the chief executive officer directly owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. This represents a 5.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Balan Nair acquired 360 shares of the business's stock in a transaction on Thursday, July 31st. The shares were 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. This represents a 3.89% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.83% of the company's stock.

About Charter Communications

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.