Rafferty Asset Management LLC Has $15.32 Million Holdings in Charter Communications, Inc. $CHTR

Key Points

• Rafferty Asset Management LLC reduced its stake in Charter Communications by 7.6%, selling 3,395 shares, leaving them with 41,560 shares valued at approximately $15.3 million.
• Charter Communications reported earnings of $9.18 per share in its last quarterly results, which missed analysts' expectations of $10.06, despite a revenue increase of 0.6% compared to the previous year.
• Wells Fargo set a new price target of $300 and assigned an "equal weight" rating to Charter Communications, while UBS lowered its target from $425 to $355, reflecting varying analyst sentiment.

Rafferty Asset Management LLC trimmed its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,560 shares of the company's stock after selling 3,395 shares during the period. Rafferty Asset Management LLC's holdings in Charter Communications were worth $15,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Makaira Partners LLC increased its holdings in shares of Charter Communications by 4.0% in the fourth quarter. Makaira Partners LLC now owns 373,191 shares of the company's stock valued at $127,919,000 after purchasing an additional 14,510 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Charter Communications by 69.5% in the first quarter. Private Trust Co. NA now owns 161 shares of the company's stock valued at $59,000 after acquiring an additional 66 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Charter Communications by 21.0% in the first 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 in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Charter Communications by 25.2% in the first quarter. Vontobel Holding Ltd. now owns 1,649 shares of the company's stock valued at $608,000 after acquiring an additional 332 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Charter Communications by 20.3% in the first quarter. Envestnet Asset Management Inc. now owns 33,471 shares of the company's stock valued at $12,335,000 after acquiring an additional 5,642 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charter Communications

In other news, Director Balan Nair acquired 360 shares of the stock in a transaction dated Thursday, July 31st. The stock was bought at an average price of $274.21 per share, with a total value of $98,715.60. Following the completion of the purchase, the director directly owned 9,622 shares of the company's stock, valued at $2,638,448.62. This represents a 3.89% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher L. Winfrey acquired 3,670 shares of the stock in a transaction dated Thursday, July 31st. The stock was purchased at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the purchase, the chief executive officer directly owned 70,243 shares of the company's stock, valued at $19,183,363.30. This trade represents a 5.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.83% of the company's stock.

Charter Communications Trading Up 0.7%

Shares of Charter Communications stock traded up $1.95 on Friday, hitting $265.58. The stock had a trading volume of 1,707,578 shares, compared to its average volume of 1,961,713. The stock has a 50 day moving average of $331.68 and a 200 day moving average of $359.17. Charter Communications, Inc. has a twelve month low of $254.67 and a twelve month high of $437.06. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $36.28 billion, a P/E ratio of 7.27, a PEG ratio of 0.59 and a beta of 1.02.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same period in the prior year, the company earned $8.49 EPS. The business's quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CHTR shares. Wells Fargo & Company started coverage on shares of Charter Communications in a research report on Thursday, August 21st. They set an "equal weight" rating and a $300.00 price objective for the company. Loop Capital raised shares of Charter Communications from a "hold" rating to a "buy" rating and increased their target price for the stock from $430.00 to $510.00 in a report on Monday, May 19th. Oppenheimer raised shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 target price for the company in a report on Friday, May 16th. Bank of America increased their target price on shares of Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Finally, Arete Research raised shares of Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $404.71.

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.