Quantinno Capital Management LP Acquires 16,118 Shares of Charter Communications, Inc. $CHTR

Key Points

• Quantinno Capital Management increased its Charter Communications stake by 54.3% in the first quarter, acquiring 16,118 shares and bringing its holdings to 45,828 shares valued at approximately $9.9 million. Institutional investors collectively own 81.76% of the company.
• Analyst sentiment remains mixed, with five Buy, eight Hold and six Sell ratings; the consensus rating is “Reduce” with a target price of $226.88. Recent target changes included cuts from Goldman Sachs, TD Cowen, Wells Fargo and Citigroup.
• Charter reported quarterly EPS of $10.66, beating estimates of $9.98, while revenue of $13.53 billion was slightly above expectations but down 1.7% year over year. The stock opened at $153.07 and has traded between $111.55 and $285.82 over the past year.

Quantinno Capital Management LP raised its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 54.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,828 shares of the company's stock after buying an additional 16,118 shares during the quarter. Quantinno Capital Management LP's holdings in Charter Communications were worth $9,893,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its position 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 valued at $35,000 after acquiring an additional 55 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in Charter Communications in the first quarter worth $25,000. Quarry LP increased its stake in Charter Communications by 153.2% in the fourth quarter. Quarry LP now owns 119 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in Charter Communications in the fourth quarter valued at $25,000. Finally, DV Equities LLC acquired a new stake in shares of Charter Communications in the 4th quarter valued at about $25,000. 81.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CHTR. The Goldman Sachs Group decreased their target price on Charter Communications from $185.00 to $125.00 and set a "sell" rating for the company in a research report on Thursday, July 2nd. Bank of America reissued a "buy" rating on shares of Charter Communications in a research note on Monday, July 27th. TD Cowen lowered their target price on Charter Communications from $413.00 to $380.00 and set a "buy" rating on the stock in a research report on Monday, July 27th. Wells Fargo & Company cut their target price on Charter Communications from $160.00 to $101.00 and set an "underweight" rating on the stock in a report on Monday, July 27th. Finally, Citigroup reduced their price target on shares of Charter Communications from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $226.88.

Insider Activity

In other Charter Communications news, Director Thomas Rutledge sold 69,633 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $144.45, for a total value of $10,058,486.85. Following the completion of the sale, the director directly owned 3,968 shares of the company's stock, valued at approximately $573,177.60. This represents a 94.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mauricio Ramos acquired 9,929 shares of the firm's stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the purchase, the director owned 19,309 shares in the company, valued at approximately $2,721,217.37. The trade was a 105.85% increase in their position. The SEC filing for this purchase provides additional information. 1.10% of the stock is currently owned by insiders.

Charter Communications Trading Up 6.2%

NASDAQ CHTR opened at $153.07 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32. The business has a fifty day simple moving average of $135.81 and a 200 day simple moving average of $180.70. Charter Communications, Inc. has a 12 month low of $111.55 and a 12 month high of $285.82. The firm has a market capitalization of $18.26 billion, a P/E ratio of 3.97, a PEG ratio of 0.24 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its earnings results on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.98 by $0.68. The firm had revenue of $13.53 billion during the quarter, compared to analyst estimates of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The business's revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.18 EPS. On average, analysts predict that Charter Communications, Inc. will post 42.72 EPS for the current fiscal year.

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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