CIBC Asset Management Inc Has $9.52 Million Stock Holdings in Charter Communications, Inc. $CHTR

CIBC Asset Management Inc raised its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,599 shares of the company’s stock after buying an additional 6,536 shares during the period. CIBC Asset Management Inc’s holdings in Charter Communications were worth $9,519,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its stake in shares of Charter Communications by 141.0% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after acquiring an additional 55 shares during the last quarter. Caitlin John LLC bought a new position in shares of Charter Communications during the third quarter valued at $41,000. Rakuten Securities Inc. raised its stake in shares of Charter Communications by 535.0% during the second quarter. Rakuten Securities Inc. now owns 127 shares of the company’s stock valued at $52,000 after acquiring an additional 107 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Charter Communications by 29.3% during the fourth quarter. Global Retirement Partners LLC now owns 357 shares of the company’s stock valued at $75,000 after acquiring an additional 81 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Charter Communications by 100.7% during the third quarter. Brown Brothers Harriman & Co. now owns 291 shares of the company’s stock valued at $80,000 after acquiring an additional 146 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Insider Activity

In other Charter Communications news, Director Wade Davis acquired 5,728 shares of Charter Communications stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average cost of $173.72 per share, for a total transaction of $995,068.16. Following the completion of the acquisition, the director directly owned 6,925 shares of the company’s stock, valued at $1,203,011. This represents a 478.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher L. Winfrey purchased 3,468 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the completion of the acquisition, the chief executive officer owned 74,409 shares of the company’s stock, valued at $12,815,462.07. The trade was a 4.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 20,125 shares of company stock valued at $3,167,116. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CHTR shares. Royal Bank Of Canada dropped their price target on shares of Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Zacks Research raised shares of Charter Communications from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Benchmark dropped their price target on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. BNP Paribas Exane dropped their price target on shares of Charter Communications from $160.00 to $150.00 and set an “underperform” rating for the company in a research note on Tuesday, February 24th. Finally, Citigroup lowered their target price on shares of Charter Communications from $290.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, Charter Communications currently has a consensus rating of “Reduce” and an average price target of $290.38.

Charter Communications Trading Up 2.4%

CHTR opened at $132.12 on Friday. Charter Communications, Inc. has a 1-year low of $126.70 and a 1-year high of $422.29. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. The company has a market cap of $16.25 billion, a P/E ratio of 3.57, a price-to-earnings-growth ratio of 0.22 and a beta of 0.71. The company has a fifty day moving average price of $181.51 and a two-hundred day moving average price of $201.34.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing the consensus estimate of $10.01 by ($0.84). The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $8.42 earnings per share. Analysts predict that Charter Communications, Inc. will post 43 EPS for the current fiscal year.

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.