OP Asset Management Ltd Buys New Stake in Charter Communications, Inc. $CHTR

OP Asset Management Ltd purchased a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,585 shares of the company’s stock, valued at approximately $3,149,000.

Other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox boosted its stake in Charter Communications by 23.7% in the 4th quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock valued at $3,049,675,000 after buying an additional 2,801,671 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Charter Communications by 9.5% in the 4th quarter. Vanguard Group Inc. now owns 10,248,287 shares of the company’s stock valued at $2,139,330,000 after purchasing an additional 885,935 shares in the last quarter. State Street Corp boosted its stake in shares of Charter Communications by 22.7% in the 3rd quarter. State Street Corp now owns 7,961,695 shares of the company’s stock valued at $2,190,302,000 after purchasing an additional 1,475,383 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Charter Communications by 304.9% in the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock worth $1,005,222,000 after purchasing an additional 3,626,135 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Charter Communications by 119.6% in the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock worth $619,885,000 after purchasing an additional 1,617,148 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

CHTR has been the subject of several analyst reports. Freedom Capital raised shares of Charter Communications to a “hold” rating in a report on Friday, June 12th. JPMorgan Chase & Co. assumed coverage on shares of Charter Communications in a research note on Wednesday, April 29th. They set a “neutral” rating and a $215.00 price objective on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $210.00 price objective on shares of Charter Communications in a report on Tuesday, May 26th. Benchmark reduced their target price on Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Charter Communications from $235.00 to $215.00 and set a “hold” rating on the stock in a research report on Monday, April 27th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $278.50.

Charter Communications Price Performance

Shares of CHTR stock opened at $133.64 on Friday. Charter Communications, Inc. has a 1 year low of $124.05 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 firm’s 50 day moving average is $155.75 and its 200-day moving average is $194.48. The firm has a market capitalization of $16.44 billion, a price-to-earnings ratio of 3.61, a PEG ratio of 0.23 and a beta of 0.71.

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

About Charter Communications

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.