Meeder Asset Management Inc. Boosts Position in Charter Communications, Inc. $CHTR

Meeder Asset Management Inc. grew its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 30,185.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,537 shares of the company’s stock after buying an additional 14,489 shares during the quarter. Meeder Asset Management Inc.’s holdings in Charter Communications were worth $3,138,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CHTR. Quarry LP lifted its holdings in shares of Charter Communications by 153.2% during the 4th quarter. Quarry LP now owns 119 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Charter Communications in the fourth quarter valued at about $25,000. DV Equities LLC purchased a new position in Charter Communications in the fourth quarter valued at about $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Charter Communications by 141.0% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after purchasing an additional 55 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its stake in shares of Charter Communications by 1,600.0% during the fourth quarter. Manchester Capital Management LLC now owns 187 shares of the company’s stock worth $39,000 after purchasing an additional 176 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $131.37 on Monday. The stock has a market cap of $16.16 billion, a price-to-earnings ratio of 3.55, a price-to-earnings-growth ratio of 0.24 and a beta of 0.71. Charter Communications, Inc. has a one year low of $124.05 and a one year high of $402.15. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40. The business’s 50-day simple moving average is $137.85 and its 200 day simple moving average is $186.71.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.56 billion. During the same quarter last year, the business earned $8.42 EPS. Charter Communications’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Charter Communications, Inc. will post 41.47 earnings per share for the current fiscal year.

Insider Activity at Charter Communications

In related news, Director Balan Nair purchased 1,000 shares of the firm’s 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 completion of the transaction, the director owned 12,029 shares of the company’s stock, valued at $2,110,608.34. This represents a 9.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher L. Winfrey purchased 3,468 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was bought at an average cost 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. This represents a 4.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 20,125 shares of company stock worth $3,167,116. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

CHTR has been the subject of a number of recent research reports. UBS Group reiterated a “neutral” rating and issued a $235.00 target price on shares of Charter Communications in a research note on Thursday, June 25th. Citigroup decreased their price target on Charter Communications from $230.00 to $190.00 and set a “buy” rating for the company in a report on Monday, June 29th. Barclays lowered their price objective on shares of Charter Communications from $200.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, July 8th. The Goldman Sachs Group dropped their price objective on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating on the stock in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Charter Communications in a research report on Wednesday, April 29th. They set a “neutral” rating and a $215.00 target price on the stock. Five equities research 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, Charter Communications presently has a consensus rating of “Reduce” and a consensus target price 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.