Polar Asset Management Partners Inc. Acquires Shares of 28,500 Charter Communications, Inc. $CHTR

Key Points

• Polar Asset Management Partners Inc. has acquired 28,500 shares of Charter Communications, valued at approximately $10.5 million, in the first quarter.
• Institutional investors hold 81.76% of Charter Communications' stock, with significant increases in shares by GAMMA Investing LLC and JPMorgan Chase & Co.
• Charter Communications missed earnings estimates with reported earnings per share of $9.18, below the consensus estimate of $10.06, despite a slight revenue increase year-over-year.

Polar Asset Management Partners Inc. acquired a new stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 28,500 shares of the company's stock, valued at approximately $10,503,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CHTR. GAMMA Investing LLC increased its stake in shares of Charter Communications by 43,296.0% in the 1st quarter. GAMMA Investing LLC now owns 857,938 shares of the company's stock valued at $316,176,000 after purchasing an additional 855,961 shares during the last quarter. JPMorgan Chase & Co. grew its position in Charter Communications by 53.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock worth $851,331,000 after acquiring an additional 806,145 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Charter Communications by 22.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company's stock worth $405,118,000 after acquiring an additional 198,444 shares during the last quarter. Nuveen LLC bought a new stake in Charter Communications during the 1st quarter worth $71,956,000. Finally, Allianz Asset Management GmbH lifted its holdings in Charter Communications by 42.2% during the 1st quarter. Allianz Asset Management GmbH now owns 500,947 shares of the company's stock worth $184,614,000 after buying an additional 148,569 shares during the period. Institutional investors own 81.76% of the company's stock.

Charter Communications Stock Down 0.7%

CHTR stock opened at $259.51 on Friday. Charter Communications, Inc. has a twelve month low of $254.67 and a twelve month 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. The firm has a market cap of $35.45 billion, a PE ratio of 7.11, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02. The business has a 50 day moving average of $320.92 and a 200 day moving average of $356.52.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings data 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 net margin of 9.53% and a return on equity of 26.77%. The company had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.76 billion. During the same period last year, the business earned $8.49 EPS. The firm's quarterly revenue was up .6% on a year-over-year basis. On average, research analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher L. Winfrey acquired 3,670 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the completion of the acquisition, the chief executive officer directly owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. The trade was a 5.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Balan Nair acquired 360 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $274.21 per share, with a total value of $98,715.60. Following the acquisition, the director directly owned 9,622 shares of the company's stock, valued at $2,638,448.62. This trade represents 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 currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on CHTR. Bank of America lifted their target price on Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Wolfe Research raised Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. The Goldman Sachs Group began coverage on Charter Communications in a report on Tuesday. They set a "sell" rating and a $223.00 target price on the stock. Raymond James Financial raised Charter Communications from an "underperform" rating to a "market perform" rating in a report on Monday, May 19th. Finally, Loop Capital raised Charter Communications from a "hold" rating to a "buy" rating and raised their target price for the stock from $430.00 to $510.00 in a research note on Monday, May 19th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $394.61.

About Charter Communications

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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