Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Charter Communications by 12.1%, owning approximately $65.91 million and 178,852 shares after acquiring an additional 19,282 shares.
• Several hedge funds, including ST Germain D J Co. Inc. and SBI Securities Co. Ltd., significantly boosted their holdings in Charter Communications during the first quarter, contributing to institutional investors owning 81.76% of the company's stock.
• Charter Communications reported $9.18 earnings per share for the last quarter, missing estimates, with revenues of $13.77 billion, slightly exceeding expectations, reflecting a 0.6% year-on-year increase.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 12.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 178,852 shares of the company's stock after purchasing an additional 19,282 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of Charter Communications worth $65,912,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CHTR. Vanguard Group Inc. boosted its stake in shares of Charter Communications by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 8,191,760 shares of the company's stock worth $3,018,909,000 after acquiring an additional 120,303 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Charter Communications by 822.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,263,721 shares of the company's stock worth $433,167,000 after acquiring an additional 1,126,783 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Charter Communications by 16.6% during the 4th quarter. Northern Trust Corp now owns 1,001,066 shares of the company's stock worth $343,135,000 after acquiring an additional 142,883 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Charter Communications by 21.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 900,849 shares of the company's stock worth $308,795,000 after acquiring an additional 161,547 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Charter Communications by 3.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 876,427 shares of the company's stock worth $322,990,000 after acquiring an additional 28,506 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Christopher L. Winfrey purchased 3,670 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the transaction, the chief executive officer owned 70,243 shares of the company's stock, valued at $19,183,363.30. This represents a 5.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Balan Nair acquired 360 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the transaction, the director owned 9,622 shares of the company's stock, valued at $2,638,448.62. This 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 currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CHTR shares. Wall Street Zen raised Charter Communications from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Oppenheimer raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price objective on the stock in a research report on Friday, May 16th. Raymond James Financial raised Charter Communications from an "underperform" rating to a "market perform" rating in a research report on Monday, May 19th. Wells Fargo & Company lifted their price objective on Charter Communications from $380.00 to $400.00 and gave the company an "equal weight" rating in a research report on Monday, April 28th. Finally, Bank of America lifted their price objective on Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Charter Communications has a consensus rating of "Hold" and an average target price of $410.59.

Charter Communications Trading Up 0.9%

CHTR traded up $2.20 during trading hours on Monday, reaching $258.77. 1,918,103 shares of the company's stock traded hands, compared to its average volume of 2,694,863. The firm has a 50-day moving average price of $368.33 and a 200 day moving average price of $368.10. Charter Communications, Inc. has a 52-week low of $254.67 and a 52-week high of $437.06. 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 capitalization of $35.35 billion, a PE ratio of 7.03, a PEG ratio of 0.57 and a beta of 1.02.

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 (EPS) 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 firm had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.76 billion. During the same period in the previous year, the company posted $8.49 EPS. Charter Communications's quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current fiscal 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.