Mubadala Investment Co PJSC Acquires Shares of 11,296 Charter Communications, Inc. $CHTR

Key Points

• Mubadala Investment Co PJSC has acquired 11,296 shares of Charter Communications valued at approximately $4.16 million, representing the company’s 16th largest holding.
Charter Communications reported a quarterly earnings per share of $9.18, missing analysts’ expectations by $0.88, while also showing a slight year-over-year revenue growth of 0.6%.
• CEO Christopher L. Winfrey purchased 3,670 shares of Charter, increasing his ownership stake by 5.51%, demonstrating insider confidence in the company.

Mubadala Investment Co PJSC acquired a new stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 11,296 shares of the company's stock, valued at approximately $4,163,000. Charter Communications accounts for about 0.0% of Mubadala Investment Co PJSC's investment portfolio, making the stock its 16th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHTR. Gamco Investors INC. ET AL increased its position in Charter Communications by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,128 shares of the company's stock worth $1,153,000 after purchasing an additional 25 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Charter Communications by 10.5% in the 1st quarter. Allworth Financial LP now owns 283 shares of the company's stock valued at $104,000 after purchasing an additional 27 shares during the last quarter. Hemington Wealth Management boosted its stake in shares of Charter Communications by 24.3% in the 1st quarter. Hemington Wealth Management now owns 143 shares of the company's stock valued at $52,000 after purchasing an additional 28 shares during the last quarter. Brown Advisory Inc. increased its holdings in Charter Communications by 1.1% in the first quarter. Brown Advisory Inc. now owns 2,704 shares of the company's stock worth $997,000 after purchasing an additional 29 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its stake in Charter Communications by 3.8% during the first quarter. Kathmere Capital Management LLC now owns 876 shares of the company's stock worth $323,000 after acquiring an additional 32 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Stock Performance

Shares of Charter Communications stock opened at $265.58 on Friday. The stock has a market cap of $36.28 billion, a price-to-earnings ratio of 7.27, a PEG ratio of 0.59 and a beta of 1.02. The firm's 50-day moving average is $331.68 and its 200 day moving average is $359.17. Charter Communications, Inc. has a 1 year low of $254.67 and a 1 year high of $437.06. 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 (NASDAQ:CHTR - Get Free Report) last announced 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). The firm had revenue of $13.77 billion during the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.49 EPS. Sell-side analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Insider Activity

In other Charter Communications news, CEO Christopher L. Winfrey purchased 3,670 shares of Charter Communications stock in a transaction dated Thursday, July 31st. The stock was purchased 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 directly owned 70,243 shares of the company's stock, valued at $19,183,363.30. This trade represents a 5.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Balan Nair bought 360 shares of Charter Communications stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $274.21 per share, with a total value of $98,715.60. Following the completion of the acquisition, the director directly owned 9,622 shares in the company, valued at $2,638,448.62. This represents a 3.89% increase in their position. The disclosure for this purchase can be found here. 0.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CHTR has been the subject of several recent research reports. Raymond James Financial upgraded Charter Communications from an "underperform" rating to a "market perform" rating in a report on Monday, May 19th. Wells Fargo & Company initiated coverage on Charter Communications in a report on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 target price for the company. Bank of America upped their target price on Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Barclays decreased their price objective on shares of Charter Communications from $341.00 to $275.00 and set an "underweight" rating for the company in a report on Monday, July 28th. Finally, Loop Capital upgraded shares of Charter Communications from a "hold" rating to a "buy" rating and raised their price objective for the stock from $430.00 to $510.00 in a report on Monday, May 19th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Charter Communications has an average rating of "Hold" and an average price target of $404.71.

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.

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