UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 11,447 Shares of Charter Communications, Inc. $CHTR

Key Points

• UBS AM reduced its stake in Charter Communications by 1.9%, selling 11,447 shares and holding a total of 583,513 shares valued at approximately $215 million.
• Analysts have adjusted their price targets for Charter Communications, with Royal Bank Of Canada lowering it from $430 to $370, while Wells Fargo assigned a target of $300.
• Insider buying included purchases from Director Balan Nair, acquiring 360 shares, and CEO Christopher L. Winfrey, who bought 3,670 shares, indicating confidence in the company's prospects.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC cut its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 583,513 shares of the company's stock after selling 11,447 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.42% of Charter Communications worth $215,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Empowered Funds LLC increased its position in shares of Charter Communications by 132.7% during the first quarter. Empowered Funds LLC now owns 15,854 shares of the company's stock valued at $5,843,000 after purchasing an additional 9,040 shares during the period. MBB Public Markets I LLC bought a new stake in shares of Charter Communications during the first quarter valued at approximately $328,000. Ascent Group LLC increased its position in shares of Charter Communications by 21.2% during the first quarter. Ascent Group LLC now owns 1,280 shares of the company's stock valued at $472,000 after purchasing an additional 224 shares during the period. United Services Automobile Association bought a new stake in shares of Charter Communications during the first quarter valued at approximately $850,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Charter Communications by 20.7% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,594 shares of the company's stock valued at $587,000 after purchasing an additional 273 shares during the period. 81.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lowered their price objective on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a research report on Monday, July 28th. Wolfe Research raised Charter Communications from an "underperform" rating to a "peer perform" rating in a research note on Friday, June 20th. Barclays decreased their price target on Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a research note on Monday, July 28th. UBS Group decreased their price target on Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Finally, Wells Fargo & Company initiated coverage on Charter Communications in a research note on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $392.94.

Insiders Place Their Bets

In other Charter Communications news, Director Balan Nair acquired 360 shares of Charter Communications stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $274.21 per share, with a total value of $98,715.60. Following the completion of the purchase, the director owned 9,622 shares in the company, valued at $2,638,448.62. This trade represents a 3.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher L. Winfrey acquired 3,670 shares of Charter Communications stock in a transaction on Thursday, July 31st. The stock was acquired at an average cost of $273.10 per share, for a total transaction of $1,002,277.00. Following the purchase, the chief executive officer owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. This represents a 5.51% increase in their position. The disclosure for this purchase can be found here. 0.83% of the stock is currently owned by insiders.

Charter Communications Price Performance

Charter Communications stock opened at $263.92 on Friday. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $36.05 billion, a P/E ratio of 7.23, a P/E/G ratio of 0.59 and a beta of 1.02. The business's fifty day moving average is $306.10 and its two-hundred day moving average is $353.09. Charter Communications, Inc. has a 52 week low of $251.80 and a 52 week high of $437.06.

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 business had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.Charter Communications's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.49 EPS. Equities research analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal 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.

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