Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR – Free Report) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 210,787 shares of the company’s stock after selling 11,045 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Charter Communications were worth $45,505,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Dodge & Cox increased its holdings in Charter Communications by 23.7% in the 4th quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock valued at $3,049,675,000 after purchasing an additional 2,801,671 shares during the last quarter. Vanguard Group Inc. lifted its stake in Charter Communications by 9.5% during the fourth quarter. Vanguard Group Inc. now owns 10,248,287 shares of the company’s stock worth $2,139,330,000 after purchasing an additional 885,935 shares in the last quarter. State Street Corp boosted its position in shares of Charter Communications by 22.7% during the third quarter. State Street Corp now owns 7,961,695 shares of the company’s stock worth $2,190,302,000 after buying an additional 1,475,383 shares during the period. Capital Research Global Investors grew its stake in shares of Charter Communications by 304.9% in the fourth quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock valued at $1,005,222,000 after buying an additional 3,626,135 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of Charter Communications by 119.6% in the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after buying an additional 1,617,148 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently weighed in on CHTR. Freedom Capital raised Charter Communications to a “hold” rating in a research report on Friday, June 12th. New Street Research decreased their target price on Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. The Goldman Sachs Group lowered their target price on Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a research note on Thursday, July 2nd. Benchmark reduced their price target on Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a research note on Wednesday, June 24th. Five 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. Based on data from MarketBeat.com, Charter Communications has an average rating of “Reduce” and a consensus price target of $255.69.
Insiders Place Their Bets
In other news, CEO Christopher L. Winfrey acquired 3,468 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average cost of $172.23 per share, with a total value of $597,293.64. Following the purchase, the chief executive officer directly owned 74,409 shares of the company’s stock, valued at approximately $12,815,462.07. This trade represents a 4.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mauricio Ramos bought 9,929 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were purchased at an average price of $140.93 per share, for a total transaction of $1,399,293.97. Following the completion of the transaction, the director owned 19,309 shares of the company’s stock, valued at $2,721,217.37. This represents a 105.85% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 20,125 shares of company stock worth $3,167,116. 1.10% of the stock is owned by insiders.
Charter Communications Stock Performance
Shares of CHTR stock opened at $130.73 on Monday. The company has a market capitalization of $16.08 billion, a P/E ratio of 3.53, a price-to-earnings-growth ratio of 0.23 and a beta of 0.71. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. The business’s 50 day moving average is $140.64 and its two-hundred day moving average is $189.41. Charter Communications, Inc. has a twelve month low of $124.05 and a twelve month high of $402.15.
Charter Communications (NASDAQ:CHTR – Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share (EPS) 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 company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.56 billion. During the same quarter in the prior year, the business earned $8.42 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities analysts forecast that Charter Communications, Inc. will post 42.06 EPS for the current year.
About Charter Communications
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.
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