JPMorgan Chase & Co. Buys 806,145 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• JPMorgan Chase & Co. increased its stake in Charter Communications by 53.6% during the first quarter by purchasing an additional 806,145 shares, bringing its total ownership to approximately 2.31 million shares valued at $851.3 million.
• Charter Communications reported $9.18 EPS in its latest earnings, missing analysts' estimates of $10.06, but sales were slightly above expectations at $13.77 billion.
• Wall Street analysts have mixed ratings on Charter Communications, with three sell ratings, eight holds, and nine buys, and a current average price target of $410.59.

JPMorgan Chase & Co. grew its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 53.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,310,073 shares of the company's stock after purchasing an additional 806,145 shares during the period. JPMorgan Chase & Co. owned approximately 1.65% of Charter Communications worth $851,331,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Charter Communications by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 8,191,760 shares of the company's stock valued at $3,018,909,000 after acquiring an additional 120,303 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Charter Communications by 822.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,263,721 shares of the company's stock worth $433,167,000 after buying an additional 1,126,783 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Charter Communications by 16.6% in the fourth quarter. Northern Trust Corp now owns 1,001,066 shares of the company's stock worth $343,135,000 after buying an additional 142,883 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 buying an additional 161,547 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Charter Communications by 3.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 876,427 shares of the company's stock worth $322,990,000 after buying an additional 28,506 shares in the last quarter. Institutional investors own 81.76% of the company's stock.

Charter Communications Stock Down 0.9%

Shares of CHTR stock opened at $256.57 on Monday. Charter Communications, Inc. has a 12 month low of $256.03 and a 12 month high of $437.06. The stock has a market cap of $35.04 billion, a P/E ratio of 7.03, a P/E/G ratio of 0.57 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 company has a 50 day simple moving average of $368.33 and a two-hundred day simple moving average of $368.10.

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

Insider Buying and Selling

In other news, CEO Christopher L. Winfrey purchased 3,670 shares of the company's 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 transaction, the chief executive officer directly owned 70,243 shares in the company, valued at $19,183,363.30. This trade represents a 5.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Balan Nair purchased 360 shares of the company'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 completion of the transaction, the director owned 9,622 shares of the company's stock, 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. Corporate insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Charter Communications from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Bank of America upped their target price on shares of Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Citigroup upped their target price on shares of Charter Communications from $425.00 to $445.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Arete Research raised shares of Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada decreased 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Charter Communications presently has a consensus rating of "Hold" and an average price target of $410.59.

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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