Louisiana State Employees Retirement System Acquires Shares of 12,700 Charter Communications, Inc. $CHTR

Louisiana State Employees Retirement System bought a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) during the 1st quarter, Holdings Channel reports. The firm bought 12,700 shares of the company’s stock, valued at approximately $2,742,000.

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

Charter Communications Price Performance

NASDAQ:CHTR opened at $133.64 on Monday. Charter Communications, Inc. has a 52 week low of $124.05 and a 52 week high of $422.29. 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 firm’s 50-day simple moving average is $155.75 and its 200 day simple moving average is $194.41. The firm has a market cap of $16.44 billion, a price-to-earnings ratio of 3.61, a P/E/G ratio of 0.23 and a beta of 0.72.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.56 billion. During the same quarter in the previous year, the company posted $8.42 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Charter Communications, Inc. will post 43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CHTR shares. Citigroup cut their price target on Charter Communications from $290.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Royal Bank Of Canada lowered their target price on Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Sanford C. Bernstein reiterated a “market perform” rating and set a $210.00 target price on shares of Charter Communications in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Charter Communications from $235.00 to $215.00 and set a “hold” rating on the stock in a report on Monday, April 27th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $235.00 target price on shares of Charter Communications in a research report on Thursday. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $278.50.

Insider Transactions at Charter Communications

In related news, Director Balan Nair purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were bought at an average cost of $175.46 per share, with a total value of $175,460.00. Following the acquisition, the director owned 12,029 shares of the company’s stock, valued at $2,110,608.34. This trade represents a 9.07% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas Rutledge sold 69,633 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $144.45, for a total transaction of $10,058,486.85. Following the transaction, the director owned 3,968 shares of the company’s stock, valued at $573,177.60. This trade represents a 94.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 20,125 shares of company stock valued at $3,167,116. Company insiders own 1.10% of the company’s stock.

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.