Fifth Third Bancorp Raises Holdings in Charter Communications, Inc. $CHTR

Fifth Third Bancorp increased its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 493.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,335 shares of the company’s stock after buying an additional 14,414 shares during the period. Fifth Third Bancorp’s holdings in Charter Communications were worth $3,742,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors increased its holdings in shares of Charter Communications by 304.9% in the 4th 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 lifted 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 worth $3,049,675,000 after purchasing an additional 2,801,671 shares during the last quarter. Norges Bank bought a new stake in Charter Communications during the fourth quarter valued at about $555,383,000. Voyager Global Management LP boosted its position in 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 valued at $386,188,000 after purchasing an additional 1,725,000 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake 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 purchasing an additional 1,617,148 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Stock Performance

Shares of NASDAQ:CHTR opened at $131.37 on Monday. The business’s 50-day moving average is $137.85 and its 200 day moving average is $186.71. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40. Charter Communications, Inc. has a 1 year low of $124.05 and a 1 year high of $402.15. The firm has a market capitalization of $16.16 billion, a P/E ratio of 3.55, a P/E/G ratio of 0.24 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last issued its quarterly 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 return on equity of 24.20% and a net margin of 9.03%.The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same period in the prior year, the business posted $8.42 EPS. Charter Communications’s revenue was down 1.0% compared to the same quarter last year. On average, research analysts predict that Charter Communications, Inc. will post 41.47 earnings per share for the current fiscal year.

Insider Transactions at Charter Communications

In related news, CEO Christopher L. Winfrey purchased 3,468 shares of the business’s stock in a transaction on 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 purchase, the chief executive officer owned 74,409 shares of the company’s stock, valued at $12,815,462.07. This trade represents a 4.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mauricio Ramos purchased 9,929 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was bought at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the acquisition, the director owned 19,309 shares of the company’s stock, valued at approximately $2,721,217.37. The trade was a 105.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 20,125 shares of company stock worth $3,167,116 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CHTR has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their target price on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a report on Thursday, July 2nd. Citigroup lowered their price target on shares of Charter Communications from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, June 29th. JPMorgan Chase & Co. initiated coverage on shares of Charter Communications in a research report on Wednesday, April 29th. They issued a “neutral” rating and a $215.00 price objective on the stock. Royal Bank Of Canada reduced their price objective on shares of 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. Finally, Zacks Research cut shares of Charter Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $253.81.

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.