Westport Asset Management Inc. Takes $1.07 Million Position in Charter Communications, Inc. $CHTR

Westport Asset Management Inc. purchased a new position in Charter Communications, Inc. (NASDAQ:CHTR) in the second quarter, Holdings Channel reports. The fund purchased 7,559 shares of the company’s stock, valued at approximately $1,075,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Foster & Motley Inc. acquired a new position in shares of Charter Communications during the 2nd quarter worth about $360,000. Trust Co. of Vermont bought a new position in Charter Communications in the second quarter worth $28,000. Plato Investment Management Ltd bought a new position in shares of Charter Communications during the 2nd quarter worth about $193,000. Tema ETFs LLC lifted its stake in Charter Communications by 8.3% during the second quarter. Tema ETFs LLC now owns 1,889 shares of the company’s stock worth $269,000 after purchasing an additional 145 shares during the period. Finally, Polianta Ltd bought a new position in shares of Charter Communications during the 2nd quarter worth approximately $1,777,000. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Trading Up 2.8%

NASDAQ:CHTR opened at $152.47 on Thursday. Charter Communications, Inc. has a twelve month low of $111.55 and a twelve month high of $285.82. The business has a 50 day moving average price of $139.08 and a two-hundred day moving average price of $177.88. The company has a market cap of $18.19 billion, a P/E ratio of 3.96, a price-to-earnings-growth ratio of 0.25 and a beta of 0.70. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.98 by $0.68. The firm had revenue of $13.53 billion for the quarter, compared to analyst estimates of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $9.18 EPS. As a group, analysts expect that Charter Communications, Inc. will post 42.72 EPS for the current fiscal year.

Insider Buying and Selling at Charter Communications

In related news, Director Thomas Rutledge sold 69,633 shares of the firm’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 transaction, the director directly owned 3,968 shares of the company’s stock, valued at approximately $573,177.60. This trade represents a 94.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CHTR. Weiss Ratings reissued a “sell (d+)” rating on shares of Charter Communications in a report on Wednesday, June 24th. The Goldman Sachs Group cut their price target on Charter Communications from $185.00 to $125.00 and set a “sell” rating on the stock in a research note on Thursday, July 2nd. Sanford C. Bernstein restated a “market perform” rating and issued a $150.00 price objective on shares of Charter Communications in a report on Monday, July 27th. JPMorgan Chase & Co. reduced their target price on Charter Communications from $200.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Finally, Citigroup reduced their price target on shares of Charter Communications from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $226.88.

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.