Ontario Teachers Pension Plan Board Increases Holdings in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Ontario Teachers Pension Plan Board increased its holdings in Charter Communications by 82.2% during the first quarter, owning a total of 4,601 shares valued at approximately $1.7 million.
• Multiple institutional investors also raised their stakes in Charter Communications, with 81.76% of the company's stock owned by such entities.
• Wall Street analysts have issued a positive outlook for Charter Communications, with several upgrades and a consensus price target of $410.59, despite some analysts rating the stock as a hold.

Ontario Teachers Pension Plan Board raised its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 82.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,601 shares of the company's stock after purchasing an additional 2,076 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Charter Communications were worth $1,696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Makaira Partners LLC grew its stake in Charter Communications by 4.0% during the 4th quarter. Makaira Partners LLC now owns 373,191 shares of the company's stock worth $127,919,000 after purchasing an additional 14,510 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Charter Communications by 69.5% in the 1st quarter. Private Trust Co. NA now owns 161 shares of the company's stock valued at $59,000 after purchasing an additional 66 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Charter Communications by 21.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,893 shares of the company's stock valued at $1,435,000 after acquiring an additional 676 shares during the last quarter. Vontobel Holding Ltd. raised its stake in Charter Communications by 25.2% during the 1st quarter. Vontobel Holding Ltd. now owns 1,649 shares of the company's stock valued at $608,000 after acquiring an additional 332 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Charter Communications by 20.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 33,471 shares of the company's stock worth $12,335,000 after purchasing an additional 5,642 shares during the period. Hedge funds and other institutional investors own 81.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CHTR. Wolfe Research upgraded Charter Communications from an "underperform" rating to a "peer perform" rating in a research report on Friday, June 20th. Sanford C. Bernstein upgraded Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 target price on the stock in a report on Monday, July 28th. Bank of America increased their price target on Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Wall Street Zen raised shares of Charter Communications from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Finally, Barclays cut their price objective on Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a research report on Monday, July 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $410.59.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $258.78 on Friday. The stock has a fifty day moving average of $371.06 and a 200-day moving average of $368.59. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. Charter Communications, Inc. has a one year low of $257.06 and a one year high of $437.06. The company has a market capitalization of $35.35 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 0.59 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 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 company had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same period last year, the company posted $8.49 earnings per share. The company's revenue was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Insider Transactions at Charter Communications

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

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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