AlTi Global Inc. Has $573,000 Stake in Charter Communications, Inc. $CHTR

AlTi Global Inc. raised its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,417 shares of the company’s stock after buying an additional 63 shares during the period. AlTi Global Inc.’s holdings in Charter Communications were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Gamco Investors INC. ET AL increased its holdings in shares of Charter Communications by 0.8% during the first quarter. Gamco Investors INC. ET AL now owns 3,128 shares of the company’s stock worth $1,153,000 after buying an additional 25 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Charter Communications by 10.5% during the first quarter. Allworth Financial LP now owns 283 shares of the company’s stock worth $104,000 after buying an additional 27 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of Charter Communications by 24.3% during the first quarter. Hemington Wealth Management now owns 143 shares of the company’s stock worth $52,000 after buying an additional 28 shares in the last quarter. Cooper Financial Group increased its holdings in shares of Charter Communications by 2.3% in the second quarter. Cooper Financial Group now owns 1,260 shares of the company’s stock valued at $515,000 after purchasing an additional 28 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of Charter Communications by 1.1% in the first quarter. Brown Advisory Inc. now owns 2,704 shares of the company’s stock valued at $997,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Insider Buying and Selling at Charter Communications

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CHTR. Royal Bank Of Canada lowered their price target 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, October 6th. Citigroup began coverage on shares of Charter Communications in a report on Monday, October 6th. They issued a “buy” rating and a $325.00 price target for the company. KeyCorp lowered their price target on shares of Charter Communications from $500.00 to $430.00 and set an “overweight” rating for the company in a report on Friday, October 3rd. The Goldman Sachs Group began coverage on shares of Charter Communications in a report on Tuesday, September 2nd. They issued a “sell” rating and a $223.00 price target for the company. Finally, Arete Research raised shares of Charter Communications to a “strong sell” rating in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Charter Communications presently has an average rating of “Hold” and an average price target of $373.71.

Charter Communications Stock Up 0.1%

NASDAQ:CHTR opened at $244.20 on Friday. Charter Communications, Inc. has a 12-month low of $243.61 and a 12-month high of $437.06. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. The firm has a market capitalization of $33.36 billion, a P/E ratio of 6.69, a P/E/G ratio of 0.56 and a beta of 1.05. The stock’s fifty day simple moving average is $264.77 and its 200-day simple moving average is $332.06.

Charter Communications (NASDAQ:CHTR) last posted 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). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The company had revenue of $13.77 billion during the quarter, compared to the consensus estimate of $13.76 billion. During the same quarter in the prior year, the business earned $8.49 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Charter Communications 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.