The Manufacturers Life Insurance Company Has $34.78 Million Holdings in Charter Communications, Inc. $CHTR

Key Points

• The Manufacturers Life Insurance Company cut its Charter Communications stake by 43.3% in the first quarter, selling 123,174 shares and retaining 161,124 shares valued at $34.78 million. Institutional investors and hedge funds collectively own 81.76% of the stock.
• Insider activity was mixed: Director Mauricio Ramos bought nearly $1.4 million of shares, while Director Thomas Rutledge sold approximately $10.1 million worth. Corporate insiders own 1.10% of Charter’s stock.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and $226.88 target price despite Charter beating quarterly earnings estimates. The stock opened at $144.98, while revenue fell 1.7% year over year to $13.53 billion.

The Manufacturers Life Insurance Company decreased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 43.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,124 shares of the company's stock after selling 123,174 shares during the quarter. The Manufacturers Life Insurance Company owned 0.13% of Charter Communications worth $34,783,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its position in shares of Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock valued at $35,000 after buying an additional 55 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Charter Communications during the 1st quarter worth approximately $25,000. Quarry LP boosted its position in shares of Charter Communications by 153.2% during the 4th quarter. Quarry LP now owns 119 shares of the company's stock worth $25,000 after acquiring an additional 72 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Charter Communications during the 4th quarter worth approximately $25,000. Finally, DV Equities LLC bought a new position in Charter Communications in the fourth quarter valued at approximately $25,000. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mauricio Ramos acquired 9,929 shares of Charter Communications stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average price of $140.93 per share, for a total transaction of $1,399,293.97. Following the transaction, the director directly owned 19,309 shares of the company's stock, valued at approximately $2,721,217.37. The trade was a 105.85% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Rutledge sold 69,633 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $144.45, for a total value of $10,058,486.85. Following the completion of the transaction, the director directly owned 3,968 shares of the company's stock, valued at approximately $573,177.60. The trade was a 94.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CHTR has been the subject of several research analyst reports. Citigroup lowered their price objective on shares of Charter Communications from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday. Bank of America reaffirmed a "buy" rating on shares of Charter Communications in a report on Monday. Zacks Research lowered Charter Communications from a "hold" rating to a "strong sell" rating in a research note on Monday, July 6th. Wells Fargo & Company lowered their price target on Charter Communications from $160.00 to $101.00 and set an "underweight" rating for the company in a report on Monday, July 27th. Finally, UBS Group dropped their price objective on Charter Communications from $235.00 to $140.00 and set a "neutral" rating for the company in a research report on Monday. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $226.88.

Charter Communications Price Performance

CHTR stock opened at $144.98 on Friday. The stock has a market cap of $17.29 billion, a price-to-earnings ratio of 3.76, a P/E/G ratio of 0.24 and a beta of 0.71. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.40. The company has a 50 day simple moving average of $135.65 and a 200 day simple moving average of $181.61. Charter Communications, Inc. has a 1 year low of $111.55 and a 1 year high of $285.82.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its earnings results on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating analysts' consensus estimates of $9.98 by $0.68. The firm had revenue of $13.53 billion for the quarter, compared to analyst estimates of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The company's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $9.18 earnings per share. Research analysts anticipate that Charter Communications, Inc. will post 42.72 EPS for the current fiscal year.

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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