Capital Asset Advisory Services LLC Invests $933,000 in Charter Communications, Inc. $CHTR

Capital Asset Advisory Services LLC bought a new stake in Charter Communications, Inc. (NASDAQ:CHTR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,320 shares of the company’s stock, valued at approximately $933,000.

A number of other large investors also recently made changes to their positions in CHTR. Dodge & Cox lifted its holdings in shares of Charter Communications by 23.7% during the fourth quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock worth $3,049,675,000 after buying an additional 2,801,671 shares in the last quarter. Vanguard Group Inc. increased its position in Charter Communications by 9.5% during the fourth quarter. Vanguard Group Inc. now owns 10,248,287 shares of the company’s stock worth $2,139,330,000 after acquiring an additional 885,935 shares during the period. State Street Corp raised its stake in Charter Communications by 22.7% in the 3rd quarter. State Street Corp now owns 7,961,695 shares of the company’s stock worth $2,190,302,000 after purchasing an additional 1,475,383 shares in the last quarter. Capital Research Global Investors boosted its holdings in Charter Communications by 304.9% in the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock valued at $1,005,222,000 after purchasing an additional 3,626,135 shares during the period. Finally, First Eagle Investment Management LLC grew its position in shares of 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 purchasing an additional 1,617,148 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.

Analysts Set New Price Targets

CHTR has been the topic of several recent research reports. Citigroup lowered their target price on shares of Charter Communications from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Monday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a research note on Wednesday, June 24th. JPMorgan Chase & Co. initiated coverage on Charter Communications in a research note on Wednesday, April 29th. They set a “neutral” rating and a $215.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a research report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $262.56.

Charter Communications Stock Performance

NASDAQ CHTR opened at $137.20 on Friday. 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 has a market capitalization of $16.87 billion, a price-to-earnings ratio of 3.71, a P/E/G ratio of 0.24 and a beta of 0.71. The firm’s 50 day simple moving average is $147.87 and its 200 day simple moving average is $192.50. Charter Communications, Inc. has a 1 year low of $124.05 and a 1 year high of $422.29.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share (EPS) 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 firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.56 billion. During the same period last year, the business earned $8.42 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. As a group, research analysts expect that Charter Communications, Inc. will post 43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Thomas Rutledge sold 69,633 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $144.45, for a total transaction of $10,058,486.85. Following the completion of the transaction, the director owned 3,968 shares of the company’s stock, valued at approximately $573,177.60. The trade was a 94.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher L. Winfrey acquired 3,468 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average price of $172.23 per share, with a total value of $597,293.64. Following the completion of the transaction, the chief executive officer owned 74,409 shares in the company, valued at $12,815,462.07. The trade was a 4.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 20,125 shares of company stock worth $3,167,116. 1.10% of the stock is owned by company insiders.

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.