Pictet Asset Management Holding SA Buys 30,080 Shares of Charter Communications, Inc. $CHTR

Key Points

• Pictet Asset Management increased its stake in Charter by 45.5%, buying 30,080 shares to own 96,183 shares worth roughly $20.08 million (about 0.07% of the company).
• Charter reported quarterly EPS of $9.17, missing estimates of $10.01 while revenue was $13.60 billion; the stock trades at a low P/E of 4.64 with a market cap of $21.75 billion and a consensus analyst rating of "Hold" (target $315.67).
• Insiders purchased 10,196 shares over the last 90 days (including CEO and director buys), and institutional investors hold about 81.76% of the company.

Pictet Asset Management Holding SA raised its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 45.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,183 shares of the company's stock after acquiring an additional 30,080 shares during the period. Pictet Asset Management Holding SA owned approximately 0.07% of Charter Communications worth $20,079,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC lifted its position in shares of Charter Communications by 129.1% in the first quarter. AQR Capital Management LLC now owns 11,875 shares of the company's stock worth $4,356,000 after buying an additional 6,691 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Charter Communications by 16.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company's stock valued at $336,000 after buying an additional 128 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Charter Communications by 48.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company's stock worth $493,000 after acquiring an additional 435 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Charter Communications by 141.0% during 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 in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Charter Communications by 451.1% during the 1st quarter. Acadian Asset Management LLC now owns 733 shares of the company's stock valued at $270,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 81.76% of the company's stock.

Charter Communications Price Performance

CHTR stock opened at $171.77 on Friday. The stock has a market cap of $21.75 billion, a PE ratio of 4.64, a P/E/G ratio of 0.28 and a beta of 1.03. Charter Communications, Inc. has a 12 month low of $158.00 and a 12 month high of $437.06. The company has a 50-day moving average price of $219.14 and a 200 day moving average price of $216.62. The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 4.56.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.01 by ($0.84). The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.Charter Communications's revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $8.42 earnings per share. Equities research analysts anticipate that Charter Communications, Inc. will post 43.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

CHTR has been the subject of a number of recent research reports. Zacks Research raised shares of Charter Communications from a "strong sell" rating to a "hold" rating in a report on Monday, February 16th. Royal Bank Of Canada dropped their price objective on shares of Charter Communications from $250.00 to $220.00 and set a "sector perform" rating for the company in a research note on Monday, April 27th. New Street Research lowered their price target on shares of Charter Communications from $479.00 to $328.00 and set a "buy" rating for the company in a report on Thursday, February 5th. KeyCorp reiterated a "sector weight" rating on shares of Charter Communications in a research report on Monday, January 26th. Finally, UBS Group set a $425.00 price objective on Charter Communications in a research note on Thursday, January 29th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, Charter Communications currently has a consensus rating of "Hold" and a consensus target price of $315.67.

Insider Activity

In related news, Director Wade Davis purchased 5,728 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were purchased at an average cost of $173.72 per share, for a total transaction of $995,068.16. Following the completion of the acquisition, the director owned 6,925 shares in the company, valued at approximately $1,203,011. This trade represents a 478.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher L. Winfrey acquired 3,468 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were bought at an average price of $172.23 per share, with a total value of $597,293.64. Following the acquisition, the chief executive officer directly owned 74,409 shares in the company, valued at $12,815,462.07. This represents a 4.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 10,196 shares of company stock valued at $1,767,822. 1.10% of the stock is currently owned by company insiders.

Charter Communications Company Profile

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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