Weitz Investment Management Inc. Has $42.55 Million Stock Holdings in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Weitz Investment Management Inc. has reduced its stake in Charter Communications by 14.8% during the 1st quarter, owning approximately $42.55 million worth of shares, which accounts for about 2.3% of its investment portfolio.
• Charter Communications reported earnings per share of $9.18 for the last quarter, falling short of analysts' expectations of $10.06, despite revenue slightly increasing to $13.77 billion.
• Insider buying was noted as CEO Christopher L. Winfrey acquired 3,670 shares at an average price of $273.10, increasing his ownership by 5.51% to a total value of over $19 million.

Weitz Investment Management Inc. decreased its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 14.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,450 shares of the company's stock after selling 20,000 shares during the quarter. Charter Communications comprises about 2.3% of Weitz Investment Management Inc.'s investment portfolio, making the stock its 19th biggest position. Weitz Investment Management Inc. owned about 0.08% of Charter Communications worth $42,547,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP increased its position in shares of Charter Communications by 10.5% during the first quarter. Allworth Financial LP now owns 283 shares of the company's stock worth $104,000 after acquiring an additional 27 shares during the last quarter. Brown Advisory Inc. grew its stake in Charter Communications by 1.1% in the first quarter. Brown Advisory Inc. now owns 2,704 shares of the company's stock worth $997,000 after purchasing an additional 29 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Charter Communications by 4.2% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the company's stock worth $254,000 after purchasing an additional 30 shares in the last quarter. Kathmere Capital Management LLC grew its stake in Charter Communications by 3.8% in the first quarter. Kathmere Capital Management LLC now owns 876 shares of the company's stock worth $323,000 after purchasing an additional 32 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in Charter Communications by 4.9% in the first quarter. Blair William & Co. IL now owns 818 shares of the company's stock worth $301,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company's stock.

Insiders Place Their Bets

In other Charter Communications news, CEO Christopher L. Winfrey purchased 3,670 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the purchase, the chief executive officer directly owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. This represents a 5.51% 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 hyperlink. Also, Director Balan Nair purchased 360 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were acquired at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the purchase, the director directly owned 9,622 shares of the company's stock, valued at approximately $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.83% of the company's stock.

Charter Communications Stock Performance

Shares of NASDAQ:CHTR traded down $2.01 during trading on Friday, reaching $256.77. The stock had a trading volume of 1,174,003 shares, compared to its average volume of 1,471,825. Charter Communications, Inc. has a 52 week low of $256.50 and a 52 week high of $437.06. The stock has a fifty day simple moving average of $371.06 and a two-hundred day simple moving average of $368.59. The firm has a market capitalization of $35.07 billion, a price-to-earnings ratio of 7.03, a P/E/G ratio of 0.59 and a beta of 1.02. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its earnings results on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%. The company had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.76 billion. During the same period last year, the firm posted $8.49 EPS. The company's revenue was up .6% compared to the same quarter last year. As a group, analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CHTR. Wells Fargo & Company lifted their price target on Charter Communications from $380.00 to $400.00 and gave the stock an "equal weight" rating in a research note on Monday, April 28th. Royal Bank Of Canada cut their price target on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a report on Monday, July 28th. Loop Capital raised shares of Charter Communications from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $430.00 to $510.00 in a research note on Monday, May 19th. Raymond James Financial raised Charter Communications from an "underperform" rating to a "market perform" rating in a research report on Monday, May 19th. Finally, Oppenheimer upgraded shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price target for the company in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Charter Communications currently has a consensus rating of "Hold" and an average price target of $410.59.

Charter Communications 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.