SEB Asset Management AB Acquires New Shares in Charter Communications, Inc. $CHTR

SEB Asset Management AB bought a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 41,536 shares of the company’s stock, valued at approximately $8,967,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in shares of Charter Communications by 1.5% during the 1st quarter. Swiss National Bank now owns 246,896 shares of the company’s stock valued at $53,300,000 after purchasing an additional 3,560 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Charter Communications during the 1st quarter worth approximately $3,483,000. Aviance Capital Partners LLC increased its stake in Charter Communications by 34.0% during the 1st quarter. Aviance Capital Partners LLC now owns 15,469 shares of the company’s stock worth $3,339,000 after purchasing an additional 3,928 shares in the last quarter. Bessemer Group Inc. raised its holdings in Charter Communications by 38.8% during the 1st quarter. Bessemer Group Inc. now owns 2,384 shares of the company’s stock worth $515,000 after buying an additional 666 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Charter Communications by 4.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,977 shares of the company’s stock worth $860,000 after buying an additional 157 shares during the period. 81.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on CHTR. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a report on Monday, April 27th. BNP Paribas Exane dropped their price objective on shares of Charter Communications from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, July 14th. Zacks Research cut shares of Charter Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Benchmark lowered their target price on Charter Communications from $455.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, Bank of America dropped their price target on Charter Communications from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, Charter Communications currently has a consensus rating of “Reduce” and an average target price of $249.12.

Charter Communications Stock Down 1.1%

NASDAQ:CHTR opened at $127.79 on Wednesday. Charter Communications, Inc. has a twelve month low of $124.05 and a twelve month high of $402.15. The firm has a market capitalization of $15.72 billion, a price-to-earnings ratio of 3.45, a price-to-earnings-growth ratio of 0.23 and a beta of 0.71. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56. The stock’s 50 day moving average price is $137.07 and its two-hundred day moving average price is $185.58.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, April 24th. The company reported $9.17 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 company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same period in the previous year, the company posted $8.42 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities research analysts expect that Charter Communications, Inc. will post 41.47 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Christopher L. Winfrey purchased 3,468 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was purchased at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the completion of the purchase, the chief executive officer directly owned 74,409 shares in the company, valued at $12,815,462.07. The trade was a 4.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mauricio Ramos acquired 9,929 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was purchased at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the transaction, the director owned 19,309 shares in the company, valued at approximately $2,721,217.37. This trade represents a 105.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 20,125 shares of company stock valued at $3,167,116. 1.10% of the stock is owned by corporate insiders.

About Charter Communications

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.