Alta Advisers Ltd Purchases New Position in Charter Communications, Inc. $CHTR

Alta Advisers Ltd purchased a new stake in Charter Communications, Inc. (NASDAQ:CHTR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 529 shares of the company’s stock, valued at approximately $216,000.

A number of other large investors also recently bought and sold shares of the business. CWM LLC raised its stake in Charter Communications by 38.7% in the second quarter. CWM LLC now owns 2,683 shares of the company’s stock worth $1,097,000 after buying an additional 749 shares in the last quarter. Board of the Pension Protection Fund bought a new position in Charter Communications in the second quarter worth approximately $981,000. Vanguard Personalized Indexing Management LLC raised its stake in Charter Communications by 25.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,691 shares of the company’s stock worth $6,028,000 after buying an additional 2,990 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in Charter Communications in the second quarter worth approximately $219,000. Finally, Aberdeen Group plc raised its stake in Charter Communications by 9.2% in the second quarter. Aberdeen Group plc now owns 34,841 shares of the company’s stock worth $14,243,000 after buying an additional 2,922 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.

Insider Buying and Selling at Charter Communications

In other news, CEO Christopher L. Winfrey bought 3,670 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the transaction, the chief executive officer directly owned 70,243 shares in the company, valued at approximately $19,183,363.30. The trade was a 5.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Balan Nair bought 360 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the transaction, the director owned 9,622 shares in the company, valued at $2,638,448.62. This trade represents a 3.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.83% of the stock is owned by corporate insiders.

Charter Communications Price Performance

NASDAQ CHTR opened at $259.49 on Friday. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. The stock’s fifty day moving average price is $266.61 and its 200 day moving average price is $339.20. Charter Communications, Inc. has a 1 year low of $251.80 and a 1 year high of $437.06. The company has a market cap of $35.44 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 0.59 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same period in the previous year, the company earned $8.49 earnings per share. Charter Communications’s revenue was up .6% on a year-over-year basis. As a group, equities research analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on CHTR. Barclays reduced their price objective on shares of Charter Communications from $341.00 to $275.00 and set an “underweight” rating for the company in a research note on Monday, July 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Charter Communications in a research note on Wednesday. KeyCorp reduced their price target on Charter Communications from $500.00 to $430.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. Bank of America reduced their price target on Charter Communications from $440.00 to $355.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Finally, Royal Bank Of Canada reduced their price target on Charter Communications from $370.00 to $325.00 and set a “sector perform” rating on the stock in a research report on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $373.71.

About Charter Communications

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.