Charter Communications, Inc. (NASDAQ:CHTR) Shares Bought by First Trust Advisors LP

Posted by Defense World Staff on Mar 11th, 2023

First Trust Advisors LP boosted its position in shares of Charter Communications, Inc. (NASDAQ:CHTR – Get Rating) by 60.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 51,803 shares of the company’s stock after acquiring an additional 19,586 shares during the quarter. First Trust Advisors LP’s holdings in Charter Communications were worth $15,714,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHTR. CI Investments Inc. lifted its holdings in shares of Charter Communications by 1,244.7% in the 3rd quarter. CI Investments Inc. now owns 1,533 shares of the company’s stock valued at $465,000 after buying an additional 1,419 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Charter Communications by 31.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,866 shares of the company’s stock valued at $566,000 after buying an additional 442 shares during the period. Vontobel Holding Ltd. acquired a new position in shares of Charter Communications in the 3rd quarter valued at about $524,000. Aviva PLC lifted its holdings in shares of Charter Communications by 16.7% in the 3rd quarter. Aviva PLC now owns 32,814 shares of the company’s stock valued at $9,954,000 after buying an additional 4,697 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of Charter Communications by 5.1% in the 3rd quarter. Xponance Inc. now owns 21,810 shares of the company’s stock valued at $6,616,000 after buying an additional 1,050 shares during the period. Institutional investors and hedge funds own 66.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CHTR shares. Deutsche Bank Aktiengesellschaft reduced their price target on Charter Communications from $450.00 to $425.00 in a report on Monday, January 30th. KeyCorp reduced their price target on Charter Communications from $580.00 to $540.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Truist Financial raised Charter Communications from a “hold” rating to a “buy” rating and upped their price target for the stock from $380.00 to $550.00 in a report on Thursday, January 5th. Bank of America raised Charter Communications from a “neutral” rating to a “buy” rating in a report on Thursday, January 5th. Finally, Loop Capital reduced their price target on Charter Communications from $405.00 to $390.00 in a report on Tuesday, January 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $486.86.

Charter Communications Stock Down 3.9 %

NASDAQ:CHTR opened at $329.49 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 7.66. The stock’s fifty day moving average is $381.86 and its two-hundred day moving average is $367.94. Charter Communications, Inc. has a 52 week low of $297.66 and a 52 week high of $583.72. The stock has a market capitalization of $50.30 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 0.45 and a beta of 1.12.

Charter Communications (NASDAQ:CHTR – Get Rating) last announced its quarterly earnings data on Friday, January 27th. The company reported $7.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.03 by ($0.34). The company had revenue of $13.67 billion during the quarter, compared to analyst estimates of $13.73 billion. Charter Communications had a net margin of 9.36% and a return on equity of 37.20%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.93 earnings per share. Research analysts anticipate that Charter Communications, Inc. will post 32.31 EPS for the current year.

Insider Activity

In related news, Director Steven A. Miron acquired 2,500 shares of Charter Communications stock in a transaction dated Tuesday, January 31st. The shares were acquired at an average cost of $384.35 per share, for a total transaction of $960,875.00. Following the completion of the purchase, the director now owns 9,173 shares in the company, valued at $3,525,642.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Thomas Rutledge sold 30,000 shares of the 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 transaction, the chairman now owns 17,493 shares of the company’s stock, valued at $6,711,014.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven A. Miron bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The stock was acquired at an average cost of $384.35 per share, for a total transaction of $960,875.00. Following the acquisition, the director now directly owns 9,173 shares of the company’s stock, valued at $3,525,642.55. The disclosure for this purchase can be found here. Insiders own 1.96% of the company’s stock.

About Charter Communications

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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.