LPL Financial LLC Acquires 3,194 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• LPL Financial LLC has increased its stake in Charter Communications by 25%, now holding 15,957 shares valued at approximately $5.88 million.
• Institutional investors and hedge funds collectively own 81.76% of Charter Communications, suggesting a strong institutional interest in the company.
• Analysts have mixed sentiments on Charter Communications, with price targets ranging from $370 to $510, currently holding a consensus rating of "Hold".

LPL Financial LLC raised its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 25.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,957 shares of the company's stock after buying an additional 3,194 shares during the quarter. LPL Financial LLC's holdings in Charter Communications were worth $5,881,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. ST Germain D J Co. Inc. lifted its stake in Charter Communications by 1,283.3% during the first quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock valued at $31,000 after buying an additional 77 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Charter Communications by 93.2% in the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock worth $31,000 after purchasing an additional 41 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Charter Communications by 70.2% in the first quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after purchasing an additional 40 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Charter Communications in the first quarter worth approximately $47,000. Finally, Private Trust Co. NA lifted its position in shares of Charter Communications by 69.5% in the first quarter. Private Trust Co. NA now owns 161 shares of the company's stock worth $59,000 after purchasing an additional 66 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Charter Communications news, Director Balan Nair purchased 360 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the purchase, the director directly owned 9,622 shares of the company's stock, valued at approximately $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were acquired at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the purchase, the chief executive officer directly owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. This 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 insiders.

Charter Communications Stock Performance

Shares of Charter Communications stock traded down $5.80 during midday trading on Thursday, hitting $263.20. The company had a trading volume of 1,945,311 shares, compared to its average volume of 2,764,937. The business's 50 day simple moving average is $360.66 and its two-hundred day simple moving average is $365.94. The stock has a market cap of $35.95 billion, a PE ratio of 7.21, a P/E/G ratio of 0.60 and a beta of 1.02. 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, Inc. has a 1-year low of $254.67 and a 1-year high of $437.06.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%. The business had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same quarter in the prior year, the firm earned $8.49 EPS. The firm's quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CHTR. Sanford C. Bernstein raised shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 price target for the company in a research report on Monday, July 28th. Royal Bank Of Canada lowered their price target 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. Citigroup increased their price target on Charter Communications from $425.00 to $445.00 and gave the company a "buy" rating in a report on Monday, April 28th. Morgan Stanley increased 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. Finally, Wells Fargo & Company increased their price target on Charter Communications from $380.00 to $400.00 and gave the company an "equal weight" rating in a report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $410.59.

About Charter Communications

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.