Commerce Bank boosted its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 20.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,233 shares of the company’s stock after buying an additional 543 shares during the period. Commerce Bank’s holdings in Charter Communications were worth $1,058,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in Charter Communications by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 643 shares of the company’s stock worth $197,000 after buying an additional 3 shares during the last quarter. Colony Group LLC raised its stake in Charter Communications by 0.7% in the third quarter. Colony Group LLC now owns 889 shares of the company’s stock worth $240,000 after buying an additional 6 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in Charter Communications by 0.4% in the fourth quarter. Wetherby Asset Management Inc. now owns 3,257 shares of the company’s stock worth $938,000 after buying an additional 12 shares during the last quarter. Advisor Partners LLC raised its stake in Charter Communications by 0.7% in the third quarter. Advisor Partners LLC now owns 2,180 shares of the company’s stock worth $589,000 after buying an additional 15 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Charter Communications by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,357 shares of the company’s stock worth $1,540,000 after buying an additional 21 shares during the last quarter. 79.53% of the stock is currently owned by institutional investors and hedge funds.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by $0.42. Charter Communications had a return on equity of 0.62% and a net margin of 13.87%. The firm had revenue of $10.16 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same period in the prior year, the business posted ($1.68) EPS. The company’s revenue for the quarter was up 301.7% on a year-over-year basis.
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A number of equities research analysts recently issued reports on CHTR shares. Zacks Investment Research raised Charter Communications from a “strong sell” rating to a “hold” rating in a research note on Monday, January 23rd. Evercore ISI reaffirmed an “overweight” rating on shares of Charter Communications in a research note on Monday, February 27th. Moffett Nathanson lowered Charter Communications from a “buy” rating to a “neutral” rating and set a $337.00 target price on the stock. in a research note on Wednesday, February 22nd. Macquarie reaffirmed a “buy” rating and issued a $365.00 target price on shares of Charter Communications in a research note on Wednesday, April 19th. Finally, Jefferies Group LLC upped their target price on Charter Communications from $280.00 to $310.00 and gave the company a “hold” rating in a research note on Friday, February 17th. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $322.49.
In other news, Director David C. Merritt acquired 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average price of $326.31 per share, with a total value of $391,572.00. Following the purchase, the director now owns 8,174 shares of the company’s stock, valued at approximately $2,667,257.94. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Hargis sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $325.75, for a total transaction of $1,954,500.00. Following the completion of the transaction, the executive vice president now directly owns 13,049 shares of the company’s stock, valued at approximately $4,250,711.75. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.
Charter Communications Company Profile
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
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