Nomura Asset Management Co. Ltd. raised its position in Charter Communications Inc (NASDAQ:CHTR) by 37.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,638 shares of the company’s stock after purchasing an additional 10,874 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Charter Communications were worth $17,295,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in shares of Charter Communications in the fourth quarter valued at approximately $25,000. IndexIQ Advisors LLC bought a new stake in Charter Communications during the fourth quarter worth approximately $27,000. Sunbelt Securities Inc. bought a new stake in Charter Communications during the fourth quarter worth approximately $6,683,000. Atlas Private Wealth Management acquired a new position in Charter Communications in the 4th quarter worth approximately $31,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its stake in Charter Communications by 82.1% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 71 shares of the company’s stock worth $31,000 after purchasing an additional 32 shares during the period. Institutional investors own 62.85% of the company’s stock.
Shares of CHTR traded down $10.34 during midday trading on Thursday, hitting $523.47. 537,593 shares of the company traded hands, compared to its average volume of 1,533,831. The stock has a 50-day moving average of $515.84 and a 200-day moving average of $490.99. Charter Communications Inc has a one year low of $345.67 and a one year high of $549.00. The firm has a market cap of $125.15 billion, a P/E ratio of 64.44, a PEG ratio of 1.20 and a beta of 1.05. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.44 and a quick ratio of 0.44.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, May 1st. The company reported $1.86 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $11.74 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the previous year, the firm posted $1.11 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Charter Communications Inc will post 11.63 EPS for the current fiscal year.
A number of research firms have issued reports on CHTR. Cfra upgraded shares of Charter Communications from a “buy” rating to a “strong-buy” rating and cut their target price for the stock from $575.00 to $525.00 in a research report on Thursday, March 26th. SunTrust Banks cut their target price on shares of Charter Communications from $580.00 to $495.00 and set a “buy” rating for the company in a research report on Friday, April 3rd. KeyCorp increased their target price on shares of Charter Communications from $576.00 to $604.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Benchmark raised their price target on shares of Charter Communications from $523.00 to $600.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Morgan Stanley raised their price target on shares of Charter Communications from $560.00 to $600.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Charter Communications presently has a consensus rating of “Buy” and an average target price of $536.75.
In other news, insider David Ellen sold 15,970 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $511.38, for a total transaction of $8,166,738.60. Following the completion of the sale, the insider now owns 64,979 shares of the company’s stock, valued at $33,228,961.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher L. Winfrey sold 9,239 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $508.51, for a total value of $4,698,123.89. Following the sale, the chief financial officer now directly owns 149,917 shares of the company’s stock, valued at approximately $76,234,293.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,150 shares of company stock valued at $15,895,723. 1.18% of the stock is owned by insiders.
About Charter Communications
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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