OP Asset Management Ltd Buys Shares of 14,585 Charter Communications, Inc. $CHTR

OP Asset Management Ltd purchased a new position in Charter Communications, Inc. (NASDAQ:CHTR) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 14,585 shares of the company’s stock, valued at approximately $3,149,000.

Other institutional investors have also made changes to their positions in the company. Quarry LP increased its holdings in Charter Communications by 153.2% in the fourth quarter. Quarry LP now owns 119 shares of the company’s stock valued at $25,000 after purchasing an additional 72 shares during the last quarter. Altshuler Shaham Ltd bought a new position in Charter Communications during the fourth quarter worth about $25,000. DV Equities LLC acquired a new position in shares of Charter Communications during the 4th quarter worth about $25,000. Geneos Wealth Management Inc. increased its stake in shares of Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after acquiring an additional 55 shares during the last quarter. Finally, Manchester Capital Management LLC increased its stake in shares of Charter Communications by 1,600.0% in the 4th quarter. Manchester Capital Management LLC now owns 187 shares of the company’s stock valued at $39,000 after acquiring an additional 176 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of Charter Communications from $290.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $210.00 target price on shares of Charter Communications in a report on Tuesday, May 26th. Freedom Capital raised shares of Charter Communications to a “hold” rating in a report on Friday, June 12th. Royal Bank Of Canada lowered their price objective on shares of Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a report on Wednesday. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $278.50.

Insider Buying and Selling

In related news, Director Wade Davis bought 5,728 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average price of $173.72 per share, with a total value of $995,068.16. Following the completion of the transaction, the director owned 6,925 shares in the company, valued at $1,203,011. The trade was a 478.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mauricio Ramos bought 9,929 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $140.93 per share, for a total transaction of $1,399,293.97. Following the acquisition, the director directly owned 19,309 shares of the company’s stock, 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. Insiders have purchased 20,125 shares of company stock worth $3,167,116 over the last three months. Company insiders own 1.10% of the company’s stock.

Charter Communications Stock Performance

Shares of CHTR opened at $133.64 on Friday. The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 3.61, a PEG ratio of 0.23 and a beta of 0.71. Charter Communications, Inc. has a 12 month low of $124.05 and a 12 month high of $422.29. The firm has a fifty day simple moving average of $155.75 and a 200 day simple moving average of $194.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56.

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

Charter Communications 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.