OMERS ADMINISTRATION Corp Raises Holdings in Charter Communications, Inc. $CHTR

Key Points

• OMERS ADMINISTRATION Corp increased its holdings in Charter Communications, Inc. by 102.1% in the first quarter, owning 8,162 shares worth approximately $3 million after purchasing an additional 4,123 shares.
• Charter Communications reported earnings of $9.18 per share, missing analyst expectations of $10.06, while revenue for the quarter was $13.77 billion.
• Analysts have mixed ratings on Charter Communications, with eight rating it as a Buy, eight as Hold, and three as Sell, reflecting a consensus target price of $404.71.

OMERS ADMINISTRATION Corp lifted its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 102.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,162 shares of the company's stock after purchasing an additional 4,123 shares during the period. OMERS ADMINISTRATION Corp's holdings in Charter Communications were worth $3,008,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Gamco Investors INC. ET AL increased its stake in shares of 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 grew its stake in Charter Communications by 10.5% in the 1st quarter. Allworth Financial LP now owns 283 shares of the company's stock worth $104,000 after acquiring an additional 27 shares during the period. Hemington Wealth Management raised its holdings in 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 acquiring an additional 28 shares during the last quarter. Brown Advisory Inc. raised its holdings in Charter Communications by 1.1% in the 1st quarter. Brown Advisory Inc. now owns 2,704 shares of the company's stock valued at $997,000 after acquiring an additional 29 shares during the last quarter. Finally, Kathmere Capital Management LLC raised its holdings in Charter Communications by 3.8% in the 1st quarter. Kathmere Capital Management LLC now owns 876 shares of the company's stock valued at $323,000 after acquiring an additional 32 shares during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Stock Up 0.7%

Shares of CHTR opened at $265.58 on Friday. The firm has a market cap of $36.28 billion, a PE ratio of 7.27, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02. The company's fifty day moving average is $331.68 and its two-hundred day moving average is $359.17. Charter Communications, Inc. has a fifty-two week low of $254.67 and a fifty-two 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.

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 for the quarter, missing analysts' consensus estimates 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 net margin of 9.53% and a return on equity of 26.77%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $8.49 EPS. Analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Analysts Set New Price Targets

CHTR has been the subject of several analyst reports. Raymond James Financial upgraded Charter Communications from an "underperform" rating to a "market perform" rating in a report on Monday, May 19th. UBS Group cut their price target on Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Loop Capital upgraded Charter Communications from a "hold" rating to a "buy" rating and boosted their price target for the company from $430.00 to $510.00 in a report on Monday, May 19th. Sanford C. Bernstein upgraded Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 price target for the company in a report on Monday, July 28th. Finally, Bank of America boosted their price target on Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $404.71.

Insider Buying and Selling at Charter Communications

In other Charter Communications news, Director Balan Nair bought 360 shares of Charter Communications stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the acquisition, the director owned 9,622 shares of the company's stock, valued at $2,638,448.62. The trade was a 3.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher L. Winfrey bought 3,670 shares of Charter Communications stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following 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 position. The disclosure for this purchase can be found here. Insiders own 0.83% of the company's stock.

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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