Nuveen LLC Makes New Investment in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Nuveen LLC has acquired a new position in Charter Communications, purchasing 195,252 shares valued at approximately $71.96 million, representing about 0.14% ownership in the company.
• Charter Communications reported a missed earnings estimate of $9.18 per share for the last quarter, falling short of the $10.06 consensus estimate, despite a slight revenue increase compared to the previous year.
• Several institutional investors, including Aigen Investment Management and Invesco, significantly increased their stakes in Charter Communications during the first quarter, indicating growing confidence in the company.

Nuveen LLC bought a new stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 195,252 shares of the company's stock, valued at approximately $71,956,000. Nuveen LLC owned approximately 0.14% of Charter Communications as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position 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 valued at $3,018,909,000 after purchasing an additional 120,303 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Charter Communications by 53.6% in the first quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock worth $851,331,000 after buying an additional 806,145 shares during the period. Invesco Ltd. boosted its holdings in shares of Charter Communications by 7.0% in the first quarter. Invesco Ltd. now owns 1,834,807 shares of the company's stock worth $676,181,000 after buying an additional 120,624 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charter Communications by 822.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,263,721 shares of the company's stock worth $433,167,000 after buying an additional 1,126,783 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Charter Communications by 16.6% in the fourth quarter. Northern Trust Corp now owns 1,001,066 shares of the company's stock worth $343,135,000 after buying an additional 142,883 shares during the period. Institutional investors own 81.76% of the company's stock.

Wall Street Analyst Weigh In

CHTR has been the subject of several recent analyst reports. Wolfe Research upgraded shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. UBS Group decreased their target price on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Arete Research upgraded shares of Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Oppenheimer upgraded shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 target price for the company in a report on Friday, May 16th. Finally, Bank of America raised their target price on shares of Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $410.59.

Insiders Place Their Bets

In other Charter Communications news, CEO Christopher L. Winfrey purchased 3,670 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Balan Nair purchased 360 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was acquired 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 of the company's stock, valued at $2,638,448.62. The trade was 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 insiders.

Charter Communications Stock Performance

Shares of Charter Communications stock traded up $4.60 during midday trading on Friday, hitting $267.80. The company had a trading volume of 1,697,732 shares, compared to its average volume of 2,785,035. The business's 50 day simple moving average is $355.53 and its two-hundred day simple moving average is $364.59. The stock has a market cap of $36.58 billion, a PE ratio of 7.33, 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 announced its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.06 by ($0.88). The company had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%. The company's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.49 EPS. As a group, equities 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.