Louisiana State Employees Retirement System Buys Shares of 12,700 Charter Communications, Inc. $CHTR

Key Points

• Louisiana State Employees Retirement System initiated a new position in Charter Communications, buying 12,700 shares worth about $2.74 million in the first quarter.
• Institutional ownership remains heavy, with firms like Dodge & Cox and Vanguard also adding shares; overall, 81.76% of Charter’s stock is held by institutions and hedge funds.
• Charter reported Q1 EPS of $9.17, which missed analyst estimates, while revenue came in slightly above expectations at $13.60 billion; analysts currently have a consensus rating of “Reduce” on the stock.

Louisiana State Employees Retirement System bought a new position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,700 shares of the company's stock, valued at approximately $2,742,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dodge & Cox increased its holdings in shares of Charter Communications by 23.7% during the fourth quarter. Dodge & Cox now owns 14,609,220 shares of the company's stock valued at $3,049,675,000 after purchasing an additional 2,801,671 shares during the period. Vanguard Group Inc. lifted its holdings in Charter Communications by 9.5% in the fourth quarter. Vanguard Group Inc. now owns 10,248,287 shares of the company's stock worth $2,139,330,000 after purchasing an additional 885,935 shares during the period. State Street Corp grew its position in Charter Communications by 22.7% in the 3rd quarter. State Street Corp now owns 7,961,695 shares of the company's stock valued at $2,190,302,000 after buying an additional 1,475,383 shares in the last quarter. Capital Research Global Investors grew its position in Charter Communications by 304.9% in the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company's stock valued at $1,005,222,000 after buying an additional 3,626,135 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Charter Communications by 119.6% during the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company's stock valued at $619,885,000 after buying an additional 1,617,148 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Stock Performance

CHTR opened at $133.64 on Monday. The firm has a market cap of $16.44 billion, a PE ratio of 3.61, a P/E/G ratio of 0.23 and a beta of 0.72. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56. The business has a fifty day simple moving average of $155.75 and a 200-day simple moving average of $194.41. Charter Communications, Inc. has a fifty-two week low of $124.05 and a fifty-two week high of $422.29.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.01 by ($0.84). The business had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The firm's revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $8.42 earnings per share. As a group, equities analysts predict that Charter Communications, Inc. will post 43 EPS for the current fiscal year.

Insider Activity

In other news, Director Mauricio Ramos purchased 9,929 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $140.93 per share, for a total transaction of $1,399,293.97. Following the completion of the purchase, the director directly owned 19,309 shares of the company's stock, valued at approximately $2,721,217.37. The trade was a 105.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Balan Nair acquired 1,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were purchased at an average price of $175.46 per share, for a total transaction of $175,460.00. Following the completion of the transaction, the director owned 12,029 shares of the company's stock, valued at $2,110,608.34. This trade represents a 9.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 20,125 shares of company stock worth $3,167,116. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

CHTR has been the topic of several recent analyst reports. Weiss Ratings reissued a "sell (d+)" rating on shares of Charter Communications in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price objective on Charter Communications from $235.00 to $215.00 and set a "hold" rating on the stock in a research note on Monday, April 27th. UBS Group reaffirmed a "neutral" rating and set a $235.00 target price on shares of Charter Communications in a report on Thursday. Sanford C. Bernstein reiterated a "market perform" rating and issued a $210.00 price target on shares of Charter Communications in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada cut their price target on shares of Charter Communications from $250.00 to $220.00 and set a "sector perform" rating for the company in a report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $278.50.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter's service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company's consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.

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