SEB Asset Management AB Purchases New Stake in Charter Communications, Inc. $CHTR

SEB Asset Management AB purchased a new stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) in the 1st quarter, Holdings Channel reports. The fund purchased 41,536 shares of the company’s stock, valued at approximately $8,967,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CHTR. Capital Research Global Investors lifted its stake in shares of Charter Communications by 304.9% during the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock worth $1,005,222,000 after buying an additional 3,626,135 shares during the last quarter. Dodge & Cox boosted its holdings in shares of Charter Communications by 23.7% during the 4th quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock worth $3,049,675,000 after buying an additional 2,801,671 shares during the period. Norges Bank acquired a new position in Charter Communications in the 4th quarter valued at about $555,383,000. Voyager Global Management LP raised its holdings in Charter Communications by 1,380.0% in the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock valued at $386,188,000 after acquiring an additional 1,725,000 shares during the period. Finally, First Eagle Investment Management LLC raised its holdings in Charter Communications by 119.6% in the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after acquiring an additional 1,617,148 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charter Communications

In other Charter Communications news, Director Thomas Rutledge sold 18,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the completion of the transaction, the director directly owned 3,968 shares in the company, valued at $583,057.92. The trade was a 82.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wade Davis purchased 5,728 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average price of $173.72 per share, for a total transaction of $995,068.16. Following the purchase, the director owned 6,925 shares in the company, valued at approximately $1,203,011. The trade was a 478.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 20,125 shares of company stock worth $3,167,116 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Charter Communications Stock Down 1.1%

CHTR stock opened at $127.79 on Wednesday. Charter Communications, Inc. has a 52 week low of $124.05 and a 52 week high of $402.15. The business has a 50-day simple moving average of $137.07 and a 200 day simple moving average of $185.58. 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 company has a market cap of $15.72 billion, a PE ratio of 3.45, a price-to-earnings-growth ratio of 0.23 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share (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 firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.56 billion. During the same quarter in the previous year, the company earned $8.42 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Sell-side analysts anticipate that Charter Communications, Inc. will post 41.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CHTR. Citigroup reduced their price objective on Charter Communications from $230.00 to $190.00 and set a “buy” rating for the company in a report on Monday, June 29th. Freedom Capital raised Charter Communications to a “hold” rating in a report on Friday, June 12th. Sanford C. Bernstein restated a “market perform” rating and issued a $210.00 price target on shares of Charter Communications in a research note on Tuesday, May 26th. Royal Bank Of Canada decreased their price objective on Charter Communications from $220.00 to $160.00 and set a “sector perform” rating on the stock in a report on Monday. Finally, BNP Paribas Exane lowered their price objective on Charter Communications from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $249.12.

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.