State of Tennessee Treasury Department Buys 67,740 Shares of Charter Communications Inc (NASDAQ:CHTR)

State of Tennessee Treasury Department grew its stake in shares of Charter Communications Inc (NASDAQ:CHTR) by 148.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,419 shares of the company’s stock after buying an additional 67,740 shares during the period. State of Tennessee Treasury Department owned 0.05% of Charter Communications worth $39,346,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CHTR. Longview Partners Guernsey LTD acquired a new position in shares of Charter Communications during the fourth quarter worth about $846,691,000. Egerton Capital UK LLP increased its position in shares of Charter Communications by 21.4% during the first quarter. Egerton Capital UK LLP now owns 2,846,860 shares of the company’s stock worth $987,604,000 after acquiring an additional 502,358 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Charter Communications by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 2,218,112 shares of the company’s stock worth $630,980,000 after acquiring an additional 167,729 shares during the last quarter. Northern Trust Corp increased its position in shares of Charter Communications by 1.5% during the fourth quarter. Northern Trust Corp now owns 1,998,946 shares of the company’s stock worth $569,640,000 after acquiring an additional 28,704 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Charter Communications during the fourth quarter worth about $360,022,000. 71.91% of the stock is owned by institutional investors.

In related news, Director Lance Conn sold 927 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $400.00, for a total value of $370,800.00. Following the completion of the transaction, the director now owns 9,552 shares of the company’s stock, valued at $3,820,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig A. Jacobson sold 1,325 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $375.18, for a total transaction of $497,113.50. Following the completion of the transaction, the director now directly owns 12,773 shares of the company’s stock, valued at approximately $4,792,174.14. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

NASDAQ CHTR opened at $395.18 on Friday. The firm has a market capitalization of $87.80 billion, a P/E ratio of 75.70, a PEG ratio of 1.25 and a beta of 1.29. Charter Communications Inc has a 1-year low of $271.56 and a 1-year high of $401.38. The stock has a fifty day moving average of $385.23. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.31 and a quick ratio of 0.31.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.23). Charter Communications had a return on equity of 2.94% and a net margin of 2.98%. The business had revenue of $11.21 billion during the quarter, compared to the consensus estimate of $11.20 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts anticipate that Charter Communications Inc will post 7.22 EPS for the current fiscal year.

Several brokerages recently weighed in on CHTR. BidaskClub lowered Charter Communications from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Macquarie started coverage on Charter Communications in a research note on Wednesday, June 19th. They issued a “hold” rating and a $390.00 target price for the company. Zacks Investment Research downgraded Charter Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Rosenblatt Securities started coverage on Charter Communications in a research report on Thursday, June 13th. They set a “buy” rating and a $480.00 price objective for the company. Finally, ValuEngine upgraded Charter Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Charter Communications currently has an average rating of “Buy” and a consensus target price of $384.07.

About Charter Communications

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

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