Sei Investments Co. Buys 2,370 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Sei Investments Co. raised its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,349 shares of the company’s stock after acquiring an additional 2,370 shares during the quarter. Sei Investments Co.’s holdings in Charter Communications were worth $49,600,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Burleson & Company LLC bought a new position in Charter Communications in the 1st quarter valued at about $37,000. German American Bancorp Inc. bought a new position in shares of Charter Communications during the first quarter worth approximately $4,144,000. Jacobi Capital Management LLC increased its holdings in shares of Charter Communications by 59.1% during the first quarter. Jacobi Capital Management LLC now owns 70 shares of the company’s stock worth $43,000 after purchasing an additional 26 shares during the period. Boston Private Wealth LLC increased its holdings in shares of Charter Communications by 2.5% during the first quarter. Boston Private Wealth LLC now owns 1,418 shares of the company’s stock worth $875,000 after purchasing an additional 35 shares during the period. Finally, Ballentine Partners LLC increased its holdings in shares of Charter Communications by 1.3% during the first quarter. Ballentine Partners LLC now owns 1,179 shares of the company’s stock worth $728,000 after purchasing an additional 15 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director David C. Merritt sold 1,000 shares of Charter Communications stock in a transaction on Monday, May 10th. The shares were sold at an average price of $697.45, for a total transaction of $697,450.00. Following the completion of the transaction, the director now owns 8,907 shares of the company’s stock, valued at $6,212,187.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard R. Dykhouse sold 11,147 shares of Charter Communications stock in a transaction on Tuesday, May 18th. The stock was sold at an average price of $683.20, for a total transaction of $7,615,630.40. Following the transaction, the executive vice president now directly owns 14,439 shares of the company’s stock, valued at approximately $9,864,724.80. The disclosure for this sale can be found here. Insiders have sold 22,590 shares of company stock valued at $15,306,235 in the last ninety days. Insiders own 1.00% of the company’s stock.

CHTR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Charter Communications from $725.00 to $770.00 and gave the stock a “buy” rating in a report on Monday, May 3rd. Argus increased their price target on shares of Charter Communications from $700.00 to $775.00 and gave the stock a “buy” rating in a research report on Wednesday, May 12th. Morgan Stanley increased their price target on shares of Charter Communications from $730.00 to $750.00 and gave the stock an “overweight” rating in a research report on Monday, May 3rd. Truist increased their price target on shares of Charter Communications from $700.00 to $750.00 in a research report on Monday, May 3rd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Charter Communications from $708.00 to $724.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 2nd. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Charter Communications currently has a consensus rating of “Buy” and an average target price of $710.24.

CHTR stock opened at $682.91 on Friday. The company’s fifty day simple moving average is $665.82. The company has a market capitalization of $128.84 billion, a P/E ratio of 38.60, a P/E/G ratio of 1.04 and a beta of 0.98. Charter Communications, Inc. has a 52-week low of $498.08 and a 52-week high of $712.41. The company has a debt-to-equity ratio of 3.09, a current ratio of 0.37 and a quick ratio of 0.37.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Thursday, April 29th. The company reported $4.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.34 by ($0.23). The business had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $12.50 billion. Charter Communications had a net margin of 7.43% and a return on equity of 11.02%. Charter Communications’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.86 EPS. As a group, sell-side analysts expect that Charter Communications, Inc. will post 19.62 earnings per share for the current year.

Charter Communications Company Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company provides Internet services, such as security suite that protects computers from viruses and spyware; in-home WiFi, which provides customers with high performance wireless routers to enhance their in-home wireless Internet experience; out-of-home WiFi; and Spectrum WiFi services, as well as video services.

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Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

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