Mirae Asset Global Investments Co. Ltd. Purchases 3,094 Shares of Charter Communications, Inc. $CHTR

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Charter Communications by 7.6%, acquiring an additional 3,094 shares, bringing its total ownership to 43,721 shares valued at $17.87 million.
• Several analysts have downgraded their price targets for Charter Communications, with Royal Bank of Canada lowering its target from $430.00 to $370.00, while maintaining a "sector perform" rating.
• Charter Communications' stock recently increased by 3.9%, opening at $280.01, following the company's earnings report which showed a quarterly revenue of $13.77 billion.

Mirae Asset Global Investments Co. Ltd. lifted its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 7.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,721 shares of the company's stock after purchasing an additional 3,094 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Charter Communications were worth $17,874,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Pure Financial Advisors LLC increased its holdings in shares of Charter Communications by 5.9% in the second quarter. Pure Financial Advisors LLC now owns 1,122 shares of the company's stock worth $459,000 after purchasing an additional 63 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Charter Communications by 241.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 47,594 shares of the company's stock worth $19,457,000 after purchasing an additional 33,647 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Charter Communications in the second quarter worth about $485,000. Institute for Wealth Management LLC. increased its holdings in shares of Charter Communications by 7.0% in the second quarter. Institute for Wealth Management LLC. now owns 2,177 shares of the company's stock worth $890,000 after purchasing an additional 142 shares during the last quarter. Finally, Cooper Financial Group increased its holdings in shares of Charter Communications by 2.3% in the second quarter. Cooper Financial Group now owns 1,260 shares of the company's stock worth $515,000 after purchasing an additional 28 shares during the last quarter. 81.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CHTR shares. 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 research note on Monday, July 28th. Wolfe Research raised Charter Communications from an "underperform" rating to a "peer perform" rating in a research note on Friday, June 20th. Bank of America reduced their price objective on Charter Communications from $440.00 to $355.00 and set a "buy" rating on the stock in a research note on Wednesday, September 24th. UBS Group reduced their price objective on Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Finally, Sanford C. Bernstein reduced their price objective on Charter Communications from $380.00 to $350.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 10th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Charter Communications has a consensus rating of "Hold" and a consensus price target of $385.76.

Charter Communications Stock Up 3.9%

Charter Communications stock opened at $280.01 on Friday. The business has a fifty day moving average of $267.30 and a two-hundred day moving average of $342.64. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. The firm has a market cap of $38.25 billion, a P/E ratio of 7.67, a P/E/G ratio of 0.62 and a beta of 1.05. Charter Communications, Inc. has a twelve month low of $251.80 and a twelve month high of $437.06.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its 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). The company had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The firm's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.49 EPS. On average, analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Christopher L. Winfrey bought 3,670 shares of the stock in a transaction on Thursday, July 31st. The stock was bought at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the acquisition, the chief executive officer directly owned 70,243 shares in the company, valued at approximately $19,183,363.30. This represents a 5.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Balan Nair bought 360 shares of the stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $274.21 per share, with a total value of $98,715.60. Following the acquisition, the director 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 disclosure for this purchase can be found here. 0.83% of the stock is owned by corporate insiders.

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.

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