Assenagon Asset Management S.A. Reduces Holdings in Charter Communications, Inc. $CHTR

Assenagon Asset Management S.A. reduced its position in Charter Communications, Inc. (NASDAQ:CHTR) by 65.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,971 shares of the company’s stock after selling 91,001 shares during the period. Assenagon Asset Management S.A.’s holdings in Charter Communications were worth $10,356,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Capital Research Global Investors increased its holdings in 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 purchasing an additional 3,626,135 shares during the last quarter. Dodge & Cox boosted its stake 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 valued at $3,049,675,000 after buying an additional 2,801,671 shares during the last quarter. Norges Bank acquired a new stake in shares of Charter Communications during the fourth quarter worth approximately $555,383,000. Voyager Global Management LP increased its stake in shares of Charter Communications by 1,380.0% in 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 increased its stake in shares of 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 worth $619,885,000 after buying an additional 1,617,148 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Trading Up 3.1%

Charter Communications stock opened at $133.64 on Friday. The firm has a 50 day simple moving average of $155.75 and a 200-day simple moving average of $194.48. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $16.44 billion, a PE ratio of 3.61, a price-to-earnings-growth ratio of 0.23 and a beta of 0.71. Charter Communications, Inc. has a 12-month low of $124.05 and a 12-month high of $422.29.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CHTR. Citigroup decreased their price objective on shares of Charter Communications from $290.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 27th. Benchmark reduced their price target on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Sanford C. Bernstein reiterated a “market perform” rating and issued a $210.00 price target on shares of Charter Communications in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a report on Monday, April 27th. Finally, New Street Research cut their price objective on Charter Communications from $328.00 to $302.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, Charter Communications currently has an average rating of “Reduce” and a consensus price target of $278.50.

Insider Activity

In other news, CEO Christopher L. Winfrey purchased 3,468 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the completion of the acquisition, the chief executive officer directly owned 74,409 shares of the company’s stock, valued at $12,815,462.07. The trade was a 4.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Balan Nair bought 1,000 shares of Charter Communications stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average price of $175.46 per share, with a total value of $175,460.00. Following the acquisition, the director directly owned 12,029 shares of the company’s stock, valued at approximately $2,110,608.34. This represents a 9.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 20,125 shares of company stock worth $3,167,116. 1.10% of the stock is owned by company insiders.

Charter Communications 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.