J. Safra Sarasin Holding AG Acquires New Position in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• J. Safra Sarasin Holding AG invested approximately $1.03 million in Charter Communications by acquiring 2,800 shares in the first quarter.
• Several institutional investors, including American Century Companies and Wellington Management Group, have raised or established their positions in Charter Communications, indicating increased interest in the company.
• Analysts have mixed sentiments on Charter Communications, with three maintaining a sell rating while others upgraded their ratings, resulting in an average rating of "Hold" with a target price of $410.59.

J. Safra Sarasin Holding AG purchased a new stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,800 shares of the company's stock, valued at approximately $1,032,000.

A number of other institutional investors have also recently made changes to their positions in CHTR. Price T Rowe Associates Inc. MD boosted its position in shares of Charter Communications by 822.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,263,721 shares of the company's stock valued at $433,167,000 after buying an additional 1,126,783 shares during the period. GAMMA Investing LLC grew its stake in shares of Charter Communications by 43,296.0% during the first quarter. GAMMA Investing LLC now owns 857,938 shares of the company's stock valued at $316,176,000 after buying an additional 855,961 shares during the last quarter. LSV Asset Management grew its stake in shares of Charter Communications by 8,343.1% during the fourth quarter. LSV Asset Management now owns 177,305 shares of the company's stock valued at $60,775,000 after buying an additional 175,205 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Charter Communications by 21.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 900,849 shares of the company's stock worth $308,795,000 after purchasing an additional 161,547 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in shares of Charter Communications by 42.2% during the first quarter. Allianz Asset Management GmbH now owns 500,947 shares of the company's stock worth $184,614,000 after purchasing an additional 148,569 shares during the last quarter. Institutional investors own 81.76% of the company's stock.

Insiders Place Their Bets

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 purchased at an average cost of $273.10 per share, for a total transaction of $1,002,277.00. Following the transaction, the chief executive officer directly owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. The trade was a 5.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Balan Nair bought 360 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the transaction, the director directly owned 9,622 shares in the company, valued at approximately $2,638,448.62. This trade represents a 3.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CHTR. Wall Street Zen raised shares of Charter Communications from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Morgan Stanley boosted their price target on Charter Communications from $385.00 to $415.00 and gave the company an "equal weight" rating in a report on Monday, April 28th. Wells Fargo & Company raised their price objective on Charter Communications from $380.00 to $400.00 and gave the stock an "equal weight" rating in a report on Monday, April 28th. Bank of America raised 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. Finally, Sanford C. Bernstein upgraded Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 price objective on the stock in a report on Monday, July 28th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $410.59.

Charter Communications Stock Performance

Shares of NASDAQ:CHTR traded down $2.94 on Monday, hitting $261.75. 2,668,995 shares of the company were exchanged, compared to its average volume of 2,354,833. The firm has a market capitalization of $35.75 billion, a P/E ratio of 7.17, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02. The stock's 50 day moving average price is $379.61 and its 200 day moving average price is $370.70. Charter Communications, Inc. has a 1-year low of $260.76 and a 1-year high of $437.06. 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 posted its earnings results on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). The business had revenue of $13.77 billion for 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 for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.49 earnings per share. Sell-side analysts predict 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.