Range Financial Group LLC Invests $466,000 in Charter Communications, Inc. $CHTR

Key Points

• Range Financial Group LLC invested approximately $466,000 in Charter Communications, acquiring 1,139 shares during the 2nd quarter.
• Institutional investors collectively own 81.76% of Charter Communications, with several firms significantly increasing their stakes, including NBC Securities Inc., which raised its position by 4,441.9%.
• Analysts have varied opinions on the stock, with a total of eight buy ratings and a mixed average price target estimated at $392.94.

Range Financial Group LLC bought a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,139 shares of the company's stock, valued at approximately $466,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Makaira Partners LLC raised its holdings in Charter Communications by 4.0% during the fourth 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. WBI Investments LLC bought a new stake in Charter Communications during the first quarter worth approximately $733,000. Private Trust Co. NA raised its holdings in Charter Communications by 69.5% during the first quarter. Private Trust Co. NA now owns 161 shares of the company's stock worth $59,000 after purchasing an additional 66 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Charter Communications by 21.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,893 shares of the company's stock worth $1,435,000 after purchasing an additional 676 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Charter Communications by 25.2% during the first quarter. Vontobel Holding Ltd. now owns 1,649 shares of the company's stock worth $608,000 after purchasing an additional 332 shares in the last quarter. Institutional investors own 81.76% of the company's stock.

Charter Communications Stock Performance

Shares of CHTR traded up $0.38 during trading hours on Friday, reaching $262.55. 3,206,409 shares of the company traded hands, compared to its average volume of 1,539,322. The stock's fifty day moving average is $291.58 and its 200 day moving average is $349.71. The stock has a market cap of $35.86 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 0.60 and a beta of 1.02. 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 1-year low of $251.80 and a 1-year high of $437.06.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wolfe Research raised Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. UBS Group dropped their price target on Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Sanford C. Bernstein dropped their price target on Charter Communications from $380.00 to $350.00 and set an "outperform" rating on the stock in a report on Wednesday, September 10th. Arete Research raised Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group began coverage on Charter Communications in a report on Tuesday, September 2nd. They issued a "sell" rating and a $223.00 price target on the stock. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $392.94.

Insider Activity

In other news, CEO Christopher L. Winfrey acquired 3,670 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were purchased at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the completion of the purchase, the chief executive officer owned 70,243 shares of the company's stock, valued at $19,183,363.30. This represents a 5.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Balan Nair purchased 360 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $274.21 per share, for a total transaction 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. The trade was 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 corporate insiders.

Charter Communications Company 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.