Strs Ohio Has $4.59 Million Stock Position in Charter Communications, Inc. $CHTR

Key Points

• Institutional investor STRS Ohio cut its stake by 57.8%, selling 30,107 shares and holding 22,003 shares of Charter worth about $4.59 million at the end of the quarter.
• Insiders have been buying: directors Wade Davis and Balan Nair made recent purchases (5,728 and 1,000 shares respectively), and insiders bought 10,196 shares worth roughly $1.77 million in the past 90 days.
• Charter missed quarterly EPS ($9.17 vs. $10.01 expected), the stock opened around $158 (down ~4.3%) and trades with heavy leverage (debt/equity 4.56); analysts’ consensus is a "Hold" with an average target of $315.67.

Strs Ohio lowered its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 57.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,003 shares of the company's stock after selling 30,107 shares during the period. Strs Ohio's holdings in Charter Communications were worth $4,593,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CHTR. Advisory Services Network LLC raised its position in Charter Communications by 3.8% during the second quarter. Advisory Services Network LLC now owns 1,028 shares of the company's stock worth $420,000 after acquiring an additional 38 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in shares of Charter Communications by 1.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company's stock valued at $988,000 after acquiring an additional 41 shares during the period. Occudo Quantitative Strategies LP increased its stake in shares of Charter Communications by 1.4% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company's stock worth $1,255,000 after purchasing an additional 41 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Charter Communications by 3.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,426 shares of the company's stock worth $392,000 after purchasing an additional 49 shares during the last quarter. Finally, CI Investments Inc. raised its holdings in shares of Charter Communications by 10.6% in the 3rd quarter. CI Investments Inc. now owns 573 shares of the company's stock valued at $158,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 81.76% of the company's stock.

Insider Activity at Charter Communications

In other news, Director Wade Davis acquired 5,728 shares of the stock in a transaction on Tuesday, April 28th. The shares were purchased at an average price of $173.72 per share, for a total transaction of $995,068.16. Following the transaction, the director directly owned 6,925 shares of the company's stock, valued at approximately $1,203,011. This represents a 478.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Balan Nair bought 1,000 shares of Charter Communications stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average cost of $175.46 per share, with a total value of $175,460.00. Following the transaction, the director owned 12,029 shares of the company's stock, valued at $2,110,608.34. This trade represents a 9.07% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 10,196 shares of company stock worth $1,767,822 in the last ninety days. 1.10% of the stock is owned by company insiders.

Charter Communications Stock Down 4.3%

Charter Communications stock opened at $158.23 on Wednesday. The company's 50-day moving average price is $217.70 and its two-hundred day moving average price is $215.23. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56. The stock has a market cap of $19.46 billion, a P/E ratio of 4.27, a P/E/G ratio of 0.28 and a beta of 0.76. Charter Communications, Inc. has a twelve month low of $157.26 and a twelve month high of $437.06.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.01 by ($0.84). The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The company's revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.42 EPS. As a group, analysts expect that Charter Communications, Inc. will post 43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a "sell (d+)" rating on shares of Charter Communications in a report on Friday, March 27th. UBS Group set a $425.00 price objective on Charter Communications in a research note on Thursday, January 29th. Royal Bank Of Canada reduced their target price on Charter Communications from $250.00 to $220.00 and set a "sector perform" rating for the company in a research note on Monday, April 27th. Sanford C. Bernstein decreased their target price on Charter Communications from $220.00 to $210.00 and set a "market perform" rating on the stock in a report on Monday, April 27th. Finally, The Goldman Sachs Group dropped their price target on Charter Communications from $210.00 to $185.00 and set a "sell" rating on the stock in a research note on Monday, February 2nd. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $315.67.

Charter Communications Company Profile

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter's service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company's consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.

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