Jump Financial LLC Sells 42,632 Shares of Charter Communications, Inc. $CHTR

Key Points

• Jump Financial LLC reduced its holdings in Charter Communications by 94.2%, selling 42,632 shares and now owning just 2,630 shares, valued at approximately $969,000.
• Several institutional investors increased their stakes in Charter Communications, with Greenstone Partners & Co. boosting its position by 199.8% and AlphaQuest LLC by 527.3% during the first quarter.
• Charter Communications reported earnings of $9.18 per share for the last quarter, missing expectations, and generated revenues of $13.77 billion, slightly above the consensus estimate.

Jump Financial LLC lessened its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 94.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,630 shares of the company's stock after selling 42,632 shares during the quarter. Jump Financial LLC's holdings in Charter Communications were worth $969,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in shares of Charter Communications by 8.8% in the first quarter. Smartleaf Asset Management LLC now owns 410 shares of the company's stock worth $151,000 after purchasing an additional 33 shares in the last quarter. Greenstone Partners & Co. LLC lifted its position in shares of Charter Communications by 199.8% in the first quarter. Greenstone Partners & Co. LLC now owns 129,428 shares of the company's stock worth $47,698,000 after purchasing an additional 86,253 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Charter Communications by 527.3% in the first quarter. AlphaQuest LLC now owns 828 shares of the company's stock worth $305,000 after purchasing an additional 696 shares in the last quarter. Allstate Corp lifted its position in shares of Charter Communications by 9.1% in the first quarter. Allstate Corp now owns 2,995 shares of the company's stock worth $1,104,000 after purchasing an additional 249 shares in the last quarter. Finally, Compound Planning Inc. lifted its position in shares of Charter Communications by 11.2% in the first quarter. Compound Planning Inc. now owns 1,149 shares of the company's stock worth $423,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 81.76% of the company's stock.

Analyst Upgrades and Downgrades

CHTR has been the topic of a number of research reports. Wells Fargo & Company initiated coverage on shares of Charter Communications in a research report on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 price objective on the stock. Arete Research raised shares of Charter Communications to a "strong sell" rating in a research report on Tuesday, July 8th. Bank of America upped their price target on shares of Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Raymond James Financial raised shares of Charter Communications from an "underperform" rating to a "market perform" rating in a research report on Monday, May 19th. Finally, UBS Group dropped their price target on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $404.71.

Insider Activity

In related news, Director Balan Nair acquired 360 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $274.21 per share, with a total value of $98,715.60. Following the completion of the transaction, the director directly owned 9,622 shares of the company's stock, valued at $2,638,448.62. This trade represents a 3.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher L. Winfrey acquired 3,670 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was bought 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 of the company's stock, valued at approximately $19,183,363.30. This trade 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 corporate insiders.

Charter Communications Price Performance

Shares of CHTR opened at $265.58 on Friday. The firm has a market capitalization of $36.28 billion, a PE ratio of 7.27, a PEG ratio of 0.59 and a beta of 1.02. The company's 50-day moving average is $331.68 and its 200-day moving average is $359.17. Charter Communications, Inc. has a fifty-two week low of $254.67 and a fifty-two week high of $437.06. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing the consensus estimate of $10.06 by ($0.88). The company had revenue of $13.77 billion during the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. Charter Communications's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $8.49 earnings per share. Equities analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current year.

Charter Communications 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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