KLP Kapitalforvaltning AS Acquires 300 Shares of Charter Communications, Inc. $CHTR

KLP Kapitalforvaltning AS increased its position in Charter Communications, Inc. (NASDAQ:CHTR) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,224 shares of the company’s stock after buying an additional 300 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Charter Communications were worth $13,173,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Charter Communications by 1.5% in the first quarter. Vanguard Group Inc. now owns 8,191,760 shares of the company’s stock worth $3,018,909,000 after buying an additional 120,303 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Charter Communications by 53.6% in the first quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company’s stock worth $851,331,000 after buying an additional 806,145 shares during the period. Invesco Ltd. increased its stake in shares of Charter Communications by 7.0% in the first quarter. Invesco Ltd. now owns 1,834,807 shares of the company’s stock worth $676,181,000 after buying an additional 120,624 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Charter Communications by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,283,315 shares of the company’s stock worth $472,941,000 after buying an additional 19,594 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Charter Communications by 22.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company’s stock worth $405,118,000 after buying an additional 198,444 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Christopher L. Winfrey acquired 3,670 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the transaction, the chief executive officer owned 70,243 shares of the company’s stock, valued at $19,183,363.30. This trade represents a 5.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Balan Nair acquired 360 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the transaction, the director directly owned 9,622 shares in the company, valued at $2,638,448.62. The trade was a 3.89% increase in their position. The disclosure for this purchase can be found here. 0.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wolfe Research raised shares of Charter Communications from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Charter Communications from $370.00 to $325.00 and set a “hold” rating for the company in a report on Monday. Citigroup began coverage on shares of Charter Communications in a report on Monday. They issued a “buy” rating and a $325.00 price objective for the company. Sanford C. Bernstein decreased their price objective on shares of Charter Communications from $380.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, September 10th. Finally, Royal Bank Of Canada decreased their price objective on shares of Charter Communications from $370.00 to $325.00 and set a “sector perform” rating for the company in a report on Monday. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $373.71.

Charter Communications Stock Down 0.8%

Shares of Charter Communications stock opened at $274.37 on Thursday. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. The company has a 50-day moving average of $266.80 and a 200 day moving average of $341.01. The firm has a market cap of $37.48 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 0.62 and a beta of 1.05. Charter Communications, Inc. has a 1 year low of $251.80 and a 1 year high of $437.06.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.06 by ($0.88). The business had revenue of $13.77 billion during the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.49 earnings per share. As a group, sell-side analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Charter Communications Company Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.