CIBC Asset Management Inc Buys 6,536 Shares of Charter Communications, Inc. $CHTR

CIBC Asset Management Inc boosted its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 16.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 45,599 shares of the company’s stock after purchasing an additional 6,536 shares during the period. CIBC Asset Management Inc’s holdings in Charter Communications were worth $9,519,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Charter Communications in the fourth quarter valued at approximately $555,383,000. First Eagle Investment Management LLC raised its position in shares of Charter Communications by 119.6% in the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after purchasing an additional 1,617,148 shares during the period. State Street Corp raised its position in shares of Charter Communications by 22.7% in the third 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 during the period. Capital Research Global Investors bought a new stake in shares of Charter Communications in the third quarter valued at approximately $327,179,000. Finally, Vanguard Group Inc. raised its position in shares of Charter Communications by 13.7% in the third quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock valued at $2,575,630,000 after purchasing an additional 1,130,648 shares during the period. Institutional investors own 81.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director Thomas Rutledge sold 69,633 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $144.45, for a total value of $10,058,486.85. Following the completion of the sale, the director owned 3,968 shares of the company’s stock, valued at approximately $573,177.60. This represents a 94.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mauricio Ramos acquired 9,929 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the purchase, the director directly owned 19,309 shares in the company, valued at $2,721,217.37. This represents a 105.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 20,125 shares of company stock worth $3,167,116. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CHTR shares. Zacks Research raised shares of Charter Communications from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. JPMorgan Chase & Co. began coverage on shares of Charter Communications in a research report on Wednesday, April 29th. They issued a “neutral” rating and a $215.00 price target on the stock. Royal Bank Of Canada decreased their target price on shares of Charter Communications from $250.00 to $220.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. New Street Research decreased their target price on shares of Charter Communications from $328.00 to $302.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Finally, Benchmark decreased their target price on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $290.38.

Charter Communications Price Performance

CHTR stock opened at $132.12 on Friday. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40. Charter Communications, Inc. has a one year low of $126.70 and a one year high of $422.29. The stock has a market cap of $16.25 billion, a PE ratio of 3.57, a P/E/G ratio of 0.22 and a beta of 0.71. The firm has a 50 day simple moving average of $181.51 and a two-hundred day simple moving average of $201.34.

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

Charter Communications Company Profile

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.