Wellington Management Group LLP increased its position in Charter Communications Inc (NASDAQ:CHTR) by 118.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,183,865 shares of the company’s stock after buying an additional 1,182,572 shares during the quarter. Wellington Management Group LLP owned about 0.93% of Charter Communications worth $952,841,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Charter Communications by 37.8% in the first quarter. Nomura Asset Management Co. Ltd. now owns 39,638 shares of the company’s stock valued at $17,295,000 after buying an additional 10,874 shares during the period. MYDA Advisors LLC acquired a new stake in shares of Charter Communications in the first quarter valued at $4,363,000. Fort L.P. lifted its holdings in shares of Charter Communications by 468.4% in the first quarter. Fort L.P. now owns 1,114 shares of the company’s stock valued at $486,000 after buying an additional 918 shares during the period. Clearfield Capital Management LP purchased a new stake in shares of Charter Communications during the first quarter valued at $15,053,000. Finally, Aviva PLC lifted its holdings in shares of Charter Communications by 71.3% during the first quarter. Aviva PLC now owns 144,715 shares of the company’s stock valued at $63,141,000 after purchasing an additional 60,251 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.
CHTR has been the subject of several analyst reports. BidaskClub downgraded Charter Communications from a “buy” rating to a “hold” rating in a report on Monday. KeyCorp upped their target price on Charter Communications from $576.00 to $604.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Cfra raised Charter Communications from a “buy” rating to a “strong-buy” rating and reduced their target price for the company from $575.00 to $525.00 in a report on Thursday, March 26th. Oppenheimer initiated coverage on Charter Communications in a report on Sunday, May 3rd. They set a “hold” rating for the company. Finally, Benchmark upped their target price on Charter Communications from $523.00 to $600.00 and gave the company a “buy” rating in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $536.75.
In other Charter Communications news, CFO Christopher L. Winfrey sold 9,239 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $508.51, for a total value of $4,698,123.89. Following the transaction, the chief financial officer now directly owns 149,917 shares of the company’s stock, valued at approximately $76,234,293.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Richard R. Dykhouse sold 5,941 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $510.16, for a total value of $3,030,860.56. Following the completion of the transaction, the executive vice president now directly owns 19,967 shares in the company, valued at $10,186,364.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,150 shares of company stock worth $15,895,723. Insiders own 1.18% of the company’s stock.
CHTR stock traded down $13.81 during mid-day trading on Thursday, hitting $520.00. The stock had a trading volume of 586,720 shares, compared to its average volume of 1,533,831. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 2.04. Charter Communications Inc has a 1-year low of $345.67 and a 1-year high of $549.00. The company has a fifty day moving average of $515.84 and a 200 day moving average of $490.99. The stock has a market capitalization of $125.15 billion, a price-to-earnings ratio of 64.44, a PEG ratio of 1.20 and a beta of 1.05.
Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, May 1st. The company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.85). Charter Communications had a return on equity of 4.66% and a net margin of 3.91%. The firm had revenue of $11.74 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period in the previous year, the company earned $1.11 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts expect that Charter Communications Inc will post 11.63 earnings per share for the current fiscal year.
Charter Communications Company Profile
Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.
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