Westport Asset Management Inc. Makes New Investment in Charter Communications, Inc. $CHTR

Key Points

• Westport Asset Management initiated a Charter Communications position by purchasing 7,559 shares valued at approximately $1.08 million. Institutional investors collectively own 81.76% of the company.
• Charter exceeded quarterly earnings expectations, reporting $10.66 in EPS versus the $9.98 consensus and $13.53 billion in revenue, although revenue declined 1.7% year over year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $226.88; the stock recently traded at $152.47 amid elevated leverage and a wide 52-week range.

Westport Asset Management Inc. bought a new position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,559 shares of the company's stock, valued at approximately $1,075,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CHTR. Thompson Siegel & Walmsley LLC grew its stake in shares of Charter Communications by 1,804.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 102,528 shares of the company's stock valued at $21,403,000 after buying an additional 97,143 shares during the period. Gateway Investment Advisers LLC acquired a new stake in shares of Charter Communications in the fourth quarter valued at about $5,911,000. Norges Bank acquired a new stake in Charter Communications in the fourth quarter valued at approximately $555,383,000. First Eagle Investment Management LLC increased its stake in Charter Communications by 119.6% during the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company's stock worth $619,885,000 after buying an additional 1,617,148 shares during the period. Finally, Swiss Life Asset Management Ltd increased its position in shares of Charter Communications by 110.7% during the fourth quarter. Swiss Life Asset Management Ltd now owns 31,239 shares of the company's stock worth $6,521,000 after acquiring an additional 16,415 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company's stock.

Insider Activity

In related news, Director Thomas Rutledge sold 18,200 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the completion of the sale, the director directly owned 3,968 shares in the company, valued at approximately $583,057.92. This trade represents a 82.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Charter Communications Price Performance

NASDAQ CHTR opened at $152.47 on Thursday. Charter Communications, Inc. has a 1 year low of $111.55 and a 1 year high of $285.82. The stock's 50-day moving average price is $139.08 and its two-hundred day moving average price is $177.88. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32. The company has a market cap of $18.19 billion, a PE ratio of 3.96, a PEG ratio of 0.25 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The company reported $10.66 EPS for the quarter, topping analysts' consensus estimates of $9.98 by $0.68. The firm had revenue of $13.53 billion during 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 revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $9.18 EPS. On average, analysts predict that Charter Communications, Inc. will post 42.72 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. BNP Paribas Exane dropped their price target on shares of Charter Communications from $150.00 to $120.00 and set an "underperform" rating for the company in a research note on Tuesday, July 14th. Zacks Research upgraded Charter Communications from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Freedom Capital raised shares of Charter Communications to a "hold" rating in a report on Friday, June 12th. Weiss Ratings restated a "sell (d+)" rating on shares of Charter Communications in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada dropped their price target on shares of Charter Communications from $160.00 to $150.00 and set a "sector perform" rating on the stock in a research report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $226.88.

Charter Communications 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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