Charter Communications, Inc. $CHTR Shares Acquired by Wright Investors Service Inc.

Key Points

• Wright Investors Service Inc. increased its stake in Charter Communications by 86.5%, acquiring an additional 1,117 shares, bringing its total to 2,408 shares valued at approximately $984,000.
• CEO Christopher L. Winfrey purchased 3,670 shares of Charter stock for $1,002,277, increasing his ownership by 5.51%, and now holds shares worth about $19 million.
• Charter Communications reported a decrease in earnings per share for the last quarter, posting $9.18 compared to the consensus estimate of $10.06, although revenues slightly surpassed expectations at $13.77 billion.

Wright Investors Service Inc. boosted its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 86.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,408 shares of the company's stock after acquiring an additional 1,117 shares during the period. Wright Investors Service Inc.'s holdings in Charter Communications were worth $984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Charter Communications in the second quarter valued at approximately $149,000. Diversified Trust Co raised its position in shares of Charter Communications by 3.5% in the second quarter. Diversified Trust Co now owns 880 shares of the company's stock valued at $360,000 after buying an additional 30 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Charter Communications in the second quarter valued at approximately $43,994,000. IFM Investors Pty Ltd raised its position in shares of Charter Communications by 1.5% in the second quarter. IFM Investors Pty Ltd now owns 18,088 shares of the company's stock valued at $7,395,000 after buying an additional 265 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Charter Communications by 9.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,262 shares of the company's stock valued at $1,777,000 after buying an additional 369 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company's stock.

Charter Communications Stock Up 0.4%

NASDAQ CHTR traded up $1.02 during trading hours on Tuesday, reaching $267.15. 1,424,029 shares of the company traded hands, compared to its average volume of 1,539,543. Charter Communications, Inc. has a 12 month low of $251.80 and a 12 month high of $437.06. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. The stock has a market capitalization of $36.49 billion, a PE ratio of 7.36, a PEG ratio of 0.59 and a beta of 1.02. The company has a 50 day moving average of $286.32 and a two-hundred day moving average of $347.74.

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). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The company had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.76 billion. During the same quarter last year, the company earned $8.49 earnings per share. The company's revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Insider Transactions at Charter Communications

In other Charter Communications news, Director Balan Nair purchased 360 shares of Charter Communications stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the transaction, the director owned 9,622 shares in the company, valued at $2,638,448.62. This represents a 3.89% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher L. Winfrey purchased 3,670 shares of Charter Communications stock in a transaction dated Thursday, July 31st. The stock was acquired at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the transaction, the chief executive officer 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 disclosure for this purchase can be found here. Company insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. UBS Group cut their price objective on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Wells Fargo & Company assumed coverage on shares of Charter Communications in a report on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 target price for the company. Royal Bank Of Canada dropped their price objective on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" rating for the company in a research report on Monday, July 28th. Wolfe Research raised shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a research report on Friday, June 20th. Finally, Arete Research raised shares of Charter Communications to a "strong sell" rating in a research report on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $392.94.

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.