Sagespring Wealth Partners LLC Boosts Stake in Charter Communications, Inc. $CHTR

Sagespring Wealth Partners LLC raised its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 14.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,024 shares of the company’s stock after buying an additional 131 shares during the period. Sagespring Wealth Partners LLC’s holdings in Charter Communications were worth $419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CHTR. Salem Investment Counselors Inc. boosted its holdings in Charter Communications by 2,033.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock valued at $26,000 after acquiring an additional 61 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Charter Communications during the second quarter worth $28,000. SouthState Corp bought a new stake in shares of Charter Communications during the first quarter worth $25,000. Family CFO Inc purchased a new stake in shares of Charter Communications during the second quarter valued at $33,000. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Charter Communications by 93.2% in the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company’s stock worth $31,000 after purchasing an additional 41 shares during the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Balan Nair bought 360 shares of Charter Communications stock in a transaction on Thursday, July 31st. The stock was acquired at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the acquisition, the director owned 9,622 shares of the company’s stock, valued at $2,638,448.62. This trade represents a 3.89% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the acquisition, the chief executive officer directly owned 70,243 shares in the company, valued at approximately $19,183,363.30. This represents a 5.51% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.83% of the company’s stock.

Charter Communications Price Performance

Shares of CHTR opened at $253.16 on Friday. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The company has a 50 day moving average price of $266.47 and a 200-day moving average price of $335.53. Charter Communications, Inc. has a fifty-two week low of $251.23 and a fifty-two week high of $437.06. The stock has a market capitalization of $34.58 billion, a PE ratio of 6.93, a PEG ratio of 0.58 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing analysts’ consensus estimates of $10.06 by ($0.88). The business had revenue of $13.77 billion during the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $8.49 EPS. Equities analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Charter Communications from $341.00 to $275.00 and set an “underweight” rating for the company in a report on Monday, July 28th. The Goldman Sachs Group assumed coverage on shares of Charter Communications in a research report on Tuesday, September 2nd. They set a “sell” rating and a $223.00 target price on the stock. Sanford C. Bernstein lowered their price target on Charter Communications from $380.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, September 10th. Arete Research upgraded Charter Communications to a “strong sell” rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada lowered their target price on Charter Communications from $370.00 to $325.00 and set a “sector perform” rating for the company in a report on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Charter Communications presently has a consensus rating of “Hold” and an average price target of $373.71.

Charter Communications Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.