Newhouse Broadcasting Corp Owns Stake in Charter Communications, Inc. (CHTR)

Newhouse Broadcasting Corp

revealed that they own 12.7% of Charter Communications, Inc. (NASDAQ:CHTR) in a Form 13D/A disclosure that was filed with the SEC on Friday, December 22nd. The investor owns 34,788,203 shares of the stock worth $11,582,384,307. The reporting parties listed on the disclosure included Advance/Newhouse Partnership, Newhouse Broadcasting Corporation, Advance Publications, Inc, Newhouse Family Holdings, LP and Advance LongTerm Management Trust. The filing is available through Edgar at this hyperlink.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Charter Communications by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 13,814,543 shares of the company’s stock worth $4,653,428,000 after purchasing an additional 321,938 shares during the last quarter. BlackRock Inc. increased its holdings in Charter Communications by 4.1% during the 2nd quarter. BlackRock Inc. now owns 12,709,709 shares of the company’s stock worth $4,281,266,000 after purchasing an additional 496,574 shares during the last quarter. Capital World Investors increased its holdings in Charter Communications by 4.1% during the 2nd quarter. Capital World Investors now owns 10,215,326 shares of the company’s stock worth $3,441,033,000 after purchasing an additional 402,167 shares during the last quarter. Veritas Asset Management LLP increased its holdings in Charter Communications by 7.4% during the 2nd quarter. Veritas Asset Management LLP now owns 3,845,110 shares of the company’s stock worth $1,295,225,000 after purchasing an additional 263,674 shares during the last quarter. Finally, Meritage Group LP increased its holdings in Charter Communications by 3.4% during the 3rd quarter. Meritage Group LP now owns 2,819,596 shares of the company’s stock worth $1,024,698,000 after purchasing an additional 92,620 shares during the last quarter. 72.14% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Charter Communications, Inc. (NASDAQ CHTR) traded up $16.56 on Friday, reaching $332.94. The company had a trading volume of 1,866,400 shares, compared to its average volume of 1,712,861. The company has a market cap of $78,655.23, a P/E ratio of 196.51, a P/E/G ratio of 5.90 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.40 and a current ratio of 0.40. Charter Communications, Inc. has a 52-week low of $282.54 and a 52-week high of $408.83.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.77). The company had revenue of $10.46 billion for the quarter, compared to the consensus estimate of $10.49 billion. Charter Communications had a return on equity of 0.91% and a net margin of 1.93%. Charter Communications’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. equities analysts predict that Charter Communications, Inc. will post 2.21 EPS for the current year.

In related news, CFO Christopher L. Winfrey acquired 3,100 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was purchased at an average cost of $323.61 per share, for a total transaction of $1,003,191.00. Following the purchase, the chief financial officer now directly owns 49,916 shares in the company, valued at $16,153,316.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is owned by corporate insiders.

CHTR has been the topic of several analyst reports. Barclays dropped their price objective on Charter Communications from $354.00 to $283.00 and set an “equal weight” rating on the stock in a report on Friday, October 27th. Telsey Advisory Group downgraded Charter Communications from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $450.00 to $340.00 in a report on Tuesday, September 5th. Macquarie restated a “buy” rating on shares of Charter Communications in a report on Sunday, October 29th. Pivotal Research restated a “buy” rating and set a $420.00 price objective (up from $405.00) on shares of Charter Communications in a report on Friday, October 27th. Finally, Evercore ISI lifted their price objective on Charter Communications from $360.00 to $438.00 and gave the stock an “outperform” rating in a report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Charter Communications currently has a consensus rating of “Hold” and an average target price of $383.21.

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About Charter Communications

Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.

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

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