Charter Communications, Inc. (NASDAQ:CHTR) Stake Raised by Canada Pension Plan Investment Board

Posted by Defense World Staff on Feb 28th, 2023

Canada Pension Plan Investment Board boosted its holdings in Charter Communications, Inc. (NASDAQ:CHTR – Get Rating) by 647.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,891 shares of the company’s stock after acquiring an additional 4,237 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Charter Communications were worth $1,484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHTR. FMR LLC raised its position in Charter Communications by 364.7% in the second quarter. FMR LLC now owns 2,420,812 shares of the company’s stock worth $1,134,223,000 after acquiring an additional 1,899,927 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Charter Communications by 24.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,203,578 shares of the company’s stock worth $2,438,032,000 after buying an additional 1,014,432 shares during the period. Renaissance Technologies LLC raised its holdings in Charter Communications by 462.8% during the 1st quarter. Renaissance Technologies LLC now owns 541,400 shares of the company’s stock worth $295,345,000 after buying an additional 445,200 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Charter Communications by 507.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 477,631 shares of the company’s stock worth $260,557,000 after buying an additional 398,954 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Charter Communications by 23.2% during the 2nd quarter. Franklin Resources Inc. now owns 1,608,959 shares of the company’s stock worth $753,846,000 after buying an additional 302,570 shares during the period. 66.05% of the stock is currently owned by institutional investors.

Insider Transactions at Charter Communications

In other Charter Communications news, Chairman Thomas Rutledge sold 30,000 shares of Charter Communications stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $383.64, for a total value of $11,509,200.00. Following the completion of the transaction, the chairman now directly owns 17,493 shares of the company’s stock, valued at approximately $6,711,014.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Charter Communications news, Director Steven A. Miron acquired 2,500 shares of the company’s stock in a transaction dated Tuesday, January 31st. The shares were bought at an average cost of $384.35 per share, with a total value of $960,875.00. Following the purchase, the director now directly owns 9,173 shares of the company’s stock, valued at $3,525,642.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Thomas Rutledge sold 30,000 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $383.64, for a total value of $11,509,200.00. Following the completion of the transaction, the chairman now directly owns 17,493 shares in the company, valued at $6,711,014.52. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by corporate insiders.

Charter Communications Price Performance

Shares of CHTR stock opened at $375.05 on Tuesday. The stock’s fifty day moving average is $376.84 and its 200-day moving average is $373.42. The stock has a market capitalization of $57.25 billion, a PE ratio of 12.19, a PEG ratio of 0.47 and a beta of 1.13. Charter Communications, Inc. has a 52 week low of $297.66 and a 52 week high of $605.40. The company has a debt-to-equity ratio of 7.66, a quick ratio of 0.33 and a current ratio of 0.33.

Charter Communications (NASDAQ:CHTR – Get Rating) last released its quarterly earnings results on Friday, January 27th. The company reported $7.69 EPS for the quarter, missing analysts’ consensus estimates of $8.03 by ($0.34). Charter Communications had a return on equity of 37.20% and a net margin of 9.36%. The business had revenue of $13.67 billion for the quarter, compared to analyst estimates of $13.73 billion. During the same period in the prior year, the business earned $8.93 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts expect that Charter Communications, Inc. will post 32.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CHTR shares. Rosenblatt Securities lowered their target price on Charter Communications from $440.00 to $437.00 and set a “buy” rating on the stock in a research note on Monday, November 7th. The Goldman Sachs Group lowered their target price on Charter Communications from $488.00 to $429.00 and set a “buy” rating on the stock in a research note on Tuesday, November 1st. UBS Group lowered their target price on Charter Communications to $406.00 in a research note on Wednesday, December 14th. Cowen lowered their target price on Charter Communications from $670.00 to $649.00 in a research note on Wednesday, December 14th. Finally, Cowen lowered their target price on Charter Communications from $670.00 to $649.00 in a research note on Wednesday, December 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Charter Communications has an average rating of “Moderate Buy” and an average target price of $486.86.

Charter Communications Company Profile

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Charter Communications, Inc engages in the provision of broadband communications services. Its services include Spectrum TV, Spectrum Internet, and Spectrum Voice. The firm offers business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul.