Weitz Investment Management Inc. Has $42.55 Million Position 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. lowered its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 14.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,450 shares of the company's stock after selling 20,000 shares during the quarter. Charter Communications accounts for approximately 2.3% of Weitz Investment Management Inc.'s investment portfolio, making the stock its 19th largest position. Weitz Investment Management Inc. owned approximately 0.08% of Charter Communications worth $42,547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ST Germain D J Co. Inc. increased its position in Charter Communications by 1,283.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock valued at $31,000 after purchasing an additional 77 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of Charter Communications by 93.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock worth $31,000 after buying an additional 41 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Charter Communications by 70.2% during the 1st quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after buying an additional 40 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Charter Communications during the 1st quarter worth approximately $47,000. Finally, Private Trust Co. NA boosted its holdings in shares of Charter Communications by 69.5% during the 1st quarter. Private Trust Co. NA now owns 161 shares of the company's stock worth $59,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company's stock.

Charter Communications Trading Down 1.7%

Shares of CHTR opened at $264.69 on Monday. The business has a 50-day moving average of $382.50 and a 200 day moving average of $371.32. Charter Communications, Inc. has a fifty-two week low of $263.56 and a fifty-two week high of $437.06. The firm has a market cap of $36.15 billion, a P/E ratio of 7.25, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33.

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

Wall Street Analysts Forecast Growth

CHTR has been the topic of a number of recent research reports. Royal Bank Of Canada cut their target price 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. Citigroup increased their target price on Charter Communications from $425.00 to $445.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Arete Research upgraded Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Bank of America raised their price objective on Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Finally, UBS Group dropped their price objective 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $410.59.

Insiders Place Their Bets

In related news, CEO Christopher L. Winfrey bought 3,670 shares of Charter Communications stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the acquisition, the chief executive officer directly owned 70,243 shares of the company's stock, valued at $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 available through this hyperlink. 0.83% of the stock is owned by insiders.

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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