Raymond James Financial Inc. Purchases 7,850 Shares of Charter Communications, Inc. $CHTR

Key Points

• Raymond James Financial Inc. increased its stake in Charter Communications by 18.1% during the 1st quarter, acquiring an additional 7,850 shares, bringing its total holdings to 51,231 shares valued at approximately $18.88 million.
• CEO Christopher L. Winfrey purchased 3,670 shares at an average price of $273.10 per share, increasing his stake in the company by 5.51% to a total of 70,243 shares valued at about $19.18 million.
• Charter Communications reported a missed earnings estimate of $9.18 per share against a consensus of $10.06, while its quarterly revenue was slightly above expectations at $13.77 billion.

Raymond James Financial Inc. boosted its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 18.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,231 shares of the company's stock after purchasing an additional 7,850 shares during the period. Raymond James Financial Inc.'s holdings in Charter Communications were worth $18,880,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Charter Communications during the fourth quarter worth $269,000. Makaira Partners LLC increased its position in Charter Communications by 4.0% in the 4th 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 during the last quarter. Northern Trust Corp raised its stake in shares of Charter Communications by 16.6% during the 4th quarter. Northern Trust Corp now owns 1,001,066 shares of the company's stock worth $343,135,000 after purchasing an additional 142,883 shares in the last quarter. Utah Retirement Systems lifted its holdings in shares of Charter Communications by 0.6% during the 4th quarter. Utah Retirement Systems now owns 15,606 shares of the company's stock valued at $5,349,000 after buying an additional 100 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of Charter Communications by 1.3% during the 4th quarter. Comerica Bank now owns 15,147 shares of the company's stock valued at $5,192,000 after buying an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company's stock.

Charter Communications Price Performance

Charter Communications stock traded up $1.95 during mid-day trading on Friday, hitting $265.58. 1,707,578 shares of the company were exchanged, compared to its average volume of 1,961,713. 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 business has a fifty day moving average of $331.68 and a 200 day moving average of $359.17. Charter Communications, Inc. has a 1-year low of $254.67 and a 1-year high of $437.06. The company has a market capitalization of $36.28 billion, a PE ratio of 7.27, a price-to-earnings-growth 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 return on equity of 26.77% and a net margin of 9.53%.The company had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same quarter in the prior year, the company earned $8.49 earnings per share. The business's revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Analyst Ratings Changes

CHTR has been the subject of several research reports. Barclays reduced their price target on Charter Communications from $341.00 to $275.00 and set an "underweight" rating for the company in a report on Monday, July 28th. Arete Research upgraded Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Raymond James Financial upgraded Charter Communications from an "underperform" rating to a "market perform" rating in a report on Monday, May 19th. Wolfe Research upgraded Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. Finally, UBS Group reduced their target price on Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $404.71.

Insider Buying and Selling at Charter Communications

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

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.