Optimal Asset Management Inc. grew its stake in Charter Communications Inc (NASDAQ:CHTR) by 97.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,607 shares of the company’s stock after buying an additional 2,271 shares during the period. Optimal Asset Management Inc.’s holdings in Charter Communications were worth $2,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tredje AP fonden boosted its position in shares of Charter Communications by 148.2% during the 1st quarter. Tredje AP fonden now owns 41,236 shares of the company’s stock valued at $17,992,000 after acquiring an additional 24,621 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Charter Communications by 6.8% during the 1st quarter. Coldstream Capital Management Inc. now owns 578 shares of the company’s stock valued at $253,000 after purchasing an additional 37 shares during the last quarter. National Pension Service raised its position in shares of Charter Communications by 1.5% in the first quarter. National Pension Service now owns 214,562 shares of the company’s stock valued at $93,616,000 after purchasing an additional 3,202 shares during the period. Morgan Stanley raised its position in shares of Charter Communications by 34.3% in the first quarter. Morgan Stanley now owns 316,089 shares of the company’s stock valued at $137,914,000 after purchasing an additional 80,655 shares during the period. Finally, 1832 Asset Management L.P. bought a new position in shares of Charter Communications in the first quarter valued at about $101,991,000. Institutional investors own 62.85% of the company’s stock.

CHTR traded down $4.27 on Friday, hitting $505.75. 11,258 shares of the company’s stock were exchanged, compared to its average volume of 1,180,394. The firm has a market cap of $118.97 billion, a PE ratio of 60.97, a P/E/G ratio of 1.18 and a beta of 1.05. Charter Communications Inc has a twelve month low of $345.67 and a twelve month high of $549.00. The stock has a fifty day moving average of $523.10 and a two-hundred day moving average of $495.34. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 2.04.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, May 1st. The company reported $1.86 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.85). Charter Communications had a net margin of 3.91% and a return on equity of 4.66%. The firm had revenue of $11.74 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the previous year, the business posted $1.11 EPS. Charter Communications’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts predict that Charter Communications Inc will post 11.35 EPS for the current year.

CHTR has been the subject of a number of research reports. Nomura reissued a “hold” rating and issued a $500.00 target price on shares of Charter Communications in a report on Wednesday, May 6th. Benchmark raised their price target on shares of Charter Communications from $523.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, May 8th. BidaskClub downgraded shares of Charter Communications from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. lifted their price objective on shares of Charter Communications from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, Barclays upgraded Charter Communications from an “underweight” rating to an “equal weight” rating and set a $375.00 target price on the stock in a research note on Wednesday, March 18th. Ten equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Charter Communications has an average rating of “Buy” and a consensus target price of $543.13.

In other news, CFO Christopher L. Winfrey sold 9,239 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $508.51, for a total value of $4,698,123.89. Following the completion of the transaction, the chief financial officer now directly owns 149,917 shares in the company, valued at $76,234,293.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Ellen sold 15,970 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $511.38, for a total transaction of $8,166,738.60. Following the completion of the transaction, the insider now owns 64,979 shares of the company’s stock, valued at $33,228,961.02. The disclosure for this sale can be found here. Insiders sold 31,150 shares of company stock valued at $15,895,723 over the last quarter. Insiders own 1.18% of the company’s stock.

Charter Communications Company Profile

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.

Further Reading: Market Timing

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

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