Northwestern Mutual Wealth Management Co. Raises Holdings in Charter Communications, Inc. $CHTR

Key Points

• Northwestern Mutual Wealth Management Co. boosted its stake in Charter Communications by 1,209.4% in the fourth quarter, ending with 15,660 shares valued at about $3.27 million.
• Other institutions also increased exposure, and 81.76% of Charter’s stock is held by hedge funds and other institutional investors. Insider buying was also notable, including purchases by Director Mauricio Ramos and CEO Christopher L. Winfrey.
• Analysts remain mixed to cautious on the stock, with recent target-price cuts and a consensus rating of “Reduce”. Charter also recently missed EPS expectations in its latest quarterly report, even though revenue came in slightly above forecasts.

Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 1,209.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,660 shares of the company's stock after purchasing an additional 14,464 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Charter Communications were worth $3,269,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CHTR. AQR Capital Management LLC increased its stake in shares of Charter Communications by 129.1% during the 1st quarter. AQR Capital Management LLC now owns 11,875 shares of the company's stock worth $4,356,000 after purchasing an additional 6,691 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Charter Communications by 16.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company's stock worth $336,000 after purchasing an additional 128 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Charter Communications by 48.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company's stock worth $493,000 after purchasing an additional 435 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $35,000 after acquiring an additional 55 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Charter Communications by 451.1% in the 1st quarter. Acadian Asset Management LLC now owns 733 shares of the company's stock worth $270,000 after acquiring an additional 600 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Charter Communications

In related news, Director Mauricio Ramos acquired 9,929 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the purchase, the director directly owned 19,309 shares of the company's stock, valued at approximately $2,721,217.37. This represents a 105.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher L. Winfrey acquired 3,468 shares of the stock in a transaction dated Tuesday, April 28th. The shares were bought at an average cost of $172.23 per share, with a total value of $597,293.64. Following the completion of the purchase, the chief executive officer directly owned 74,409 shares in the company, valued at approximately $12,815,462.07. This trade represents a 4.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 20,125 shares of company stock valued at $3,167,116 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of Charter Communications from $210.00 to $185.00 and set a "sell" rating for the company in a research note on Monday, February 2nd. KeyCorp reaffirmed a "sector weight" rating on shares of Charter Communications in a research note on Monday, January 26th. Citigroup lowered their target price on shares of Charter Communications from $290.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Charter Communications from $235.00 to $215.00 and set a "hold" rating for the company in a research note on Monday, April 27th. Finally, Sanford C. Bernstein lowered their target price on shares of Charter Communications from $220.00 to $210.00 and set a "market perform" rating for the company in a research note on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $290.38.

Charter Communications Price Performance

Shares of NASDAQ CHTR opened at $145.15 on Monday. Charter Communications, Inc. has a 52-week low of $136.63 and a 52-week high of $422.29. The firm has a fifty day moving average of $196.70 and a 200-day moving average of $206.44. The stock has a market capitalization of $17.85 billion, a PE ratio of 3.92, a P/E/G ratio of 0.25 and a beta of 0.76. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56.

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). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The company had revenue of $13.60 billion for the quarter, compared to analysts' expectations of $13.56 billion. During the same period in the prior year, the firm earned $8.42 earnings per share. The firm's quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts anticipate that Charter Communications, Inc. will post 43 EPS for the current year.

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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