Kovitz Investment Group Partners LLC Purchases 1,396 Shares of Charter Communications, Inc. $CHTR

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Charter Communications, Inc. by 89.5%, acquiring an additional 1,396 shares in the first quarter, bringing its total holdings to 2,956 shares valued at approximately $1,089,000.
• The company's stock price opened at $267.01 and has experienced a 12-month range with a low of $254.67 and a high of $437.06.
• Charter Communications reported earnings of $9.18 per share for the latest quarter, missing analyst expectations by $0.88, while recording a revenue of $13.77 billion.

Kovitz Investment Group Partners LLC lifted its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 89.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,956 shares of the company's stock after purchasing an additional 1,396 shares during the period. Kovitz Investment Group Partners LLC's holdings in Charter Communications were worth $1,089,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. bought a new position in Charter Communications during the fourth quarter valued at about $14,870,000. Ossiam increased its stake in Charter Communications by 20.6% during the fourth quarter. Ossiam now owns 2,995 shares of the company's stock valued at $1,027,000 after acquiring an additional 512 shares during the period. MetLife Investment Management LLC increased its stake in Charter Communications by 1.4% during the fourth quarter. MetLife Investment Management LLC now owns 25,542 shares of the company's stock valued at $8,755,000 after acquiring an additional 360 shares during the period. State of Tennessee Department of Treasury increased its stake in Charter Communications by 26.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 31,097 shares of the company's stock valued at $10,659,000 after acquiring an additional 6,533 shares during the period. Finally, Quantessence Capital LLC bought a new position in Charter Communications during the fourth quarter valued at about $576,000. 81.76% of the stock is currently owned by institutional investors.

Charter Communications Stock Performance

NASDAQ:CHTR traded up $9.60 during mid-day trading on Friday, hitting $277.58. The stock had a trading volume of 1,820,510 shares, compared to its average volume of 2,806,755. Charter Communications, Inc. has a twelve month low of $254.67 and a twelve month high of $437.06. The stock has a market cap of $37.91 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 0.62 and a beta of 1.02. The company's 50 day simple moving average is $342.72 and its 200 day simple moving average is $362.07. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported $9.18 earnings per share (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 for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $8.49 earnings per share. On average, equities research analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. 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 research note on Monday, July 28th. Morgan Stanley boosted their target price on Charter Communications from $385.00 to $415.00 and gave the stock an "equal weight" rating in a report on Monday, April 28th. Royal Bank Of Canada reduced their price objective on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a report on Monday, July 28th. Wells Fargo & Company started coverage on shares of Charter Communications in a research report on Thursday. They set an "equal weight" rating and a $300.00 target price for the company. Finally, Loop Capital upgraded shares of Charter Communications from a "hold" rating to a "buy" rating and upped their price objective for the company from $430.00 to $510.00 in a research report on Monday, May 19th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $404.71.

Insider Activity at Charter Communications

In related news, Director Balan Nair acquired 360 shares of the business's stock in a transaction on Thursday, July 31st. The stock was 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 directly owned 9,622 shares of the company's stock, valued at approximately $2,638,448.62. The trade was a 3.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher L. Winfrey acquired 3,670 shares of the business's stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $273.10 per share, with a total value 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. The trade was a 5.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.83% of the company's stock.

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.