Totem Point Management LLC Has $1.44 Million Stake in Charter Communications, Inc. $CHTR

Key Points

• Totem Point Management LLC reduced its stake in Charter Communications by 33.4% in the first quarter, now holding 3,905 shares valued at approximately $1.44 million.
• Numerous institutional investors have adjusted their positions in Charter, with hedge funds collectively owning 81.76% of the company's stock.
• Analysts have varied ratings on Charter, with an average target price of $404.71, and recent adjustments reflecting both bullish and bearish sentiments.

Totem Point Management LLC lowered its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 33.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,905 shares of the company's stock after selling 1,962 shares during the period. Charter Communications accounts for 1.8% of Totem Point Management LLC's portfolio, making the stock its 12th largest position. Totem Point Management LLC's holdings in Charter Communications were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Charter Communications by 1.5% in the first quarter. Vanguard Group Inc. now owns 8,191,760 shares of the company's stock valued at $3,018,909,000 after purchasing an additional 120,303 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Charter Communications by 53.6% in the first quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock valued at $851,331,000 after acquiring an additional 806,145 shares during the last quarter. Invesco Ltd. boosted its stake in Charter Communications by 7.0% in the first quarter. Invesco Ltd. now owns 1,834,807 shares of the company's stock valued at $676,181,000 after acquiring an additional 120,624 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Charter Communications by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,283,315 shares of the company's stock valued at $472,941,000 after acquiring an additional 19,594 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Charter Communications by 22.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company's stock valued at $405,118,000 after acquiring an additional 198,444 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company's stock.

Insiders Place Their Bets

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

Charter Communications Trading Up 0.7%

Shares of NASDAQ CHTR traded up $1.95 during midday trading on Friday, reaching $265.58. 1,707,578 shares of the stock were exchanged, compared to its average volume of 1,918,925. The business has a 50-day simple moving average of $331.68 and a two-hundred day simple moving average of $359.20. The company has a market capitalization of $36.28 billion, a price-to-earnings ratio of 7.27, a P/E/G ratio of 0.60 and a beta of 1.02. Charter Communications, Inc. has a 12 month low of $254.67 and a 12 month high of $437.06. 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 (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The company reported $9.18 earnings per share 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 the consensus estimate of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $8.49 earnings per share. As a group, equities research analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHTR. Loop Capital raised shares of Charter Communications from a "hold" rating to a "buy" rating and raised their price objective for the company from $430.00 to $510.00 in a research note on Monday, May 19th. Barclays reduced their price objective on shares of Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a research note on Monday, July 28th. Royal Bank Of Canada reduced their price objective on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a research note on Monday, July 28th. Raymond James Financial raised shares of Charter Communications from an "underperform" rating to a "market perform" rating in a research note on Monday, May 19th. Finally, Sanford C. Bernstein raised shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 price objective on the stock in a research note on Monday, July 28th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Charter Communications currently has an average rating of "Hold" and an average target price of $404.71.

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.