Norges Bank Buys New Stake in Charter Communications, Inc. $CHTR

Norges Bank bought a new stake in Charter Communications, Inc. (NASDAQ:CHTR) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 2,660,518 shares of the company’s stock, valued at approximately $555,383,000.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its stake in shares of Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after purchasing an additional 55 shares during the period. Caitlin John LLC acquired a new position in shares of Charter Communications in the 3rd quarter valued at $41,000. Rakuten Securities Inc. lifted its stake in shares of Charter Communications by 535.0% in the 2nd quarter. Rakuten Securities Inc. now owns 127 shares of the company’s stock valued at $52,000 after purchasing an additional 107 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Charter Communications by 29.3% in the 4th quarter. Global Retirement Partners LLC now owns 357 shares of the company’s stock valued at $75,000 after purchasing an additional 81 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Charter Communications by 100.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 291 shares of the company’s stock valued at $80,000 after purchasing an additional 146 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $144.05 on Monday. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40. The company has a fifty day moving average of $189.60 and a two-hundred day moving average of $203.86. The stock has a market capitalization of $17.72 billion, a PE ratio of 3.89, a P/E/G ratio of 0.25 and a beta of 0.72. Charter Communications, Inc. has a fifty-two week low of $136.63 and a fifty-two week high of $422.29.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. Charter Communications’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $8.42 earnings per share. As a group, research analysts forecast that Charter Communications, Inc. will post 43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Christopher L. Winfrey bought 3,468 shares of the stock in a transaction on Tuesday, April 28th. The stock was bought at an average price of $172.23 per share, with a total value of $597,293.64. Following the completion of the purchase, the chief executive officer directly owned 74,409 shares in the company, valued at $12,815,462.07. This represents a 4.89% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wade Davis bought 5,728 shares of the stock in a transaction on Tuesday, April 28th. The shares were bought at an average cost of $173.72 per share, with a total value of $995,068.16. Following the purchase, the director owned 6,925 shares of the company’s stock, valued at $1,203,011. This trade represents a 478.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 20,125 shares of company stock valued at $3,167,116. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CHTR shares. Benchmark decreased their target price on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a research note on Monday, April 27th. Zacks Research upgraded shares of Charter Communications from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Wells Fargo & Company boosted their target price on shares of Charter Communications from $180.00 to $200.00 and gave the company an “underweight” rating in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada reduced their price objective on shares of Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $290.38.

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.