Skandinaviska Enskilda Banken AB publ Grows Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Skandinaviska Enskilda Banken AB has increased its holdings in Charter Communications by 20.2%, owning 31,545 shares valued at approximately $11.62 million.
• Charter Communications' stock has dropped 18.5%, currently trading around $309.75, with a 52-week range between $307.34 and $437.06.
• Recent earnings reports revealed Charter's EPS of $9.18 missed the consensus estimate of $10.06, despite a revenue increase of 0.6% year-over-year.

Skandinaviska Enskilda Banken AB publ raised its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 20.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,545 shares of the company's stock after purchasing an additional 5,300 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Charter Communications were worth $11,621,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CHTR. Price T Rowe Associates Inc. MD grew its stake in shares of Charter Communications by 822.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,263,721 shares of the company's stock valued at $433,167,000 after purchasing an additional 1,126,783 shares during the period. GAMMA Investing LLC grew its stake in shares of Charter Communications by 43,296.0% during the 1st quarter. GAMMA Investing LLC now owns 857,938 shares of the company's stock valued at $316,176,000 after acquiring an additional 855,961 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Charter Communications by 130.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,078,175 shares of the company's stock valued at $369,566,000 after acquiring an additional 609,554 shares during the period. LSV Asset Management grew its stake in shares of Charter Communications by 8,343.1% during the 4th quarter. LSV Asset Management now owns 177,305 shares of the company's stock valued at $60,775,000 after acquiring an additional 175,205 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Charter Communications by 21.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 900,849 shares of the company's stock valued at $308,795,000 after acquiring an additional 161,547 shares during the period. 81.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Arete Research upgraded Charter Communications to a "strong sell" rating in a research note on Tuesday, July 8th. Morgan Stanley boosted their price objective on Charter Communications from $385.00 to $415.00 and gave the company an "equal weight" rating in a research note on Monday, April 28th. Wolfe Research upgraded Charter Communications from an "underperform" rating to a "peer perform" rating in a research note on Friday, June 20th. Bank of America boosted their price objective on Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Finally, Barclays lowered their price target on Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a report on Monday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Charter Communications has a consensus rating of "Hold" and a consensus target price of $410.59.

Charter Communications Trading Up 1.0%

NASDAQ:CHTR traded up $2.81 during midday trading on Wednesday, hitting $283.49. 1,618,940 shares of the company traded hands, compared to its average volume of 1,402,736. The firm's fifty day moving average is $390.85 and its 200-day moving average is $372.67. Charter Communications, Inc. has a 12-month low of $274.00 and a 12-month high of $437.06. The firm has a market capitalization of $39.79 billion, a P/E ratio of 7.73, a P/E/G ratio of 0.32 and a beta of 1.08. The company has a current ratio of 0.33, a quick ratio of 0.36 and a debt-to-equity ratio of 4.57.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The company reported $9.18 earnings per share 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 company had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $13.76 billion. During the same quarter in the previous year, the company posted $8.49 EPS. The business's quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current year.

About Charter Communications

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.