Robeco Institutional Asset Management B.V. Increases Holdings in Charter Communications, Inc. $CHTR

Key Points

• Robeco Institutional Asset Management B.V. significantly increased its holdings in Charter Communications by 241.2% in the second quarter, now owning 47,594 shares worth around $19.5 million.
• Several hedge funds have also made substantial changes to their positions in Charter Communications, reflecting a strong interest among institutional investors, with 81.76% of the stock owned by hedge funds and institutional investors.
• Charter Communications reported a miss on EPS with $9.18 compared to the expected $10.06 for the latest quarter, although revenues slightly exceeded analyst expectations.

Robeco Institutional Asset Management B.V. grew its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 241.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 47,594 shares of the company's stock after buying an additional 33,647 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Charter Communications were worth $19,457,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CHTR. New Wave Wealth Advisors LLC purchased a new stake in Charter Communications in the second quarter worth $485,000. Institute for Wealth Management LLC. raised its holdings in Charter Communications by 7.0% in the 2nd quarter. Institute for Wealth Management LLC. now owns 2,177 shares of the company's stock worth $890,000 after purchasing an additional 142 shares in the last quarter. Cooper Financial Group lifted its position in shares of Charter Communications by 2.3% in the 2nd quarter. Cooper Financial Group now owns 1,260 shares of the company's stock worth $515,000 after purchasing an additional 28 shares during the period. Truist Financial Corp boosted its stake in shares of Charter Communications by 9.0% during the 2nd quarter. Truist Financial Corp now owns 10,880 shares of the company's stock valued at $4,448,000 after purchasing an additional 897 shares in the last quarter. Finally, Caledonia Investments PLC boosted its stake in shares of Charter Communications by 8.3% during the 2nd quarter. Caledonia Investments PLC now owns 153,200 shares of the company's stock valued at $62,628,000 after purchasing an additional 11,800 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Charter Communications

In other Charter Communications news, CEO Christopher L. Winfrey acquired 3,670 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were 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 owned 70,243 shares in the company, valued at $19,183,363.30. This represents a 5.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Balan Nair bought 360 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $274.21 per share, with a total value of $98,715.60. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. 0.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Wolfe Research upgraded shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. Wells Fargo & Company assumed coverage on Charter Communications in a research note on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 target price for the company. Arete Research upgraded Charter Communications to a "strong sell" rating in a research report on Tuesday, July 8th. Bank of America decreased their price objective on Charter Communications from $440.00 to $355.00 and set a "buy" rating for the company in a report on Wednesday, September 24th. Finally, Royal Bank Of Canada lowered their price objective on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating for the company in a research report on Monday, July 28th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Charter Communications presently has a consensus rating of "Hold" and a consensus target price of $385.76.

Charter Communications Stock Performance

CHTR stock opened at $280.01 on Friday. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. Charter Communications, Inc. has a 1 year low of $251.80 and a 1 year high of $437.06. The company has a market cap of $38.25 billion, a P/E ratio of 7.67, a price-to-earnings-growth ratio of 0.62 and a beta of 1.05. The stock's fifty day moving average price is $267.30 and its 200-day moving average price is $342.64.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). The firm had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $8.49 EPS. On average, equities analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

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.

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