Fernbridge Capital Management LP Sells 82,284 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Fernbridge Capital Management LP decreased its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 55.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,445 shares of the company's stock after selling 82,284 shares during the period. Charter Communications accounts for 1.2% of Fernbridge Capital Management LP's portfolio, making the stock its 21st largest position. Fernbridge Capital Management LP's holdings in Charter Communications were worth $22,775,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Virtu Financial LLC raised its stake in Charter Communications by 262.6% during the third quarter. Virtu Financial LLC now owns 13,731 shares of the company's stock valued at $4,450,000 after buying an additional 9,944 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Charter Communications during the 3rd quarter valued at about $165,000. Tidal Investments LLC increased its stake in Charter Communications by 1.3% during the 3rd quarter. Tidal Investments LLC now owns 17,261 shares of the company's stock valued at $5,594,000 after purchasing an additional 229 shares in the last quarter. Franklin Resources Inc. raised its holdings in Charter Communications by 4.9% in the third quarter. Franklin Resources Inc. now owns 3,179,454 shares of the company's stock worth $1,052,868,000 after buying an additional 148,003 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Charter Communications in the third quarter worth approximately $1,345,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Price Performance

Shares of CHTR stock traded down $8.86 on Thursday, hitting $383.00. 1,442,758 shares of the stock traded hands, compared to its average volume of 1,253,370. The firm has a 50 day simple moving average of $356.75 and a two-hundred day simple moving average of $359.62. Charter Communications, Inc. has a 52 week low of $253.91 and a 52 week high of $415.27. The firm has a market cap of $54.37 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 0.44 and a beta of 1.13. The company has a debt-to-equity ratio of 4.73, a current ratio of 0.31 and a quick ratio of 0.31.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $8.42 earnings per share for the quarter, missing the consensus estimate of $8.70 by ($0.28). The business had revenue of $13.74 billion during the quarter, compared to the consensus estimate of $13.67 billion. Charter Communications had a return on equity of 29.01% and a net margin of 9.23%. The company's revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.55 earnings per share. As a group, equities research analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CHTR shares. Citigroup boosted their price objective on shares of Charter Communications from $425.00 to $445.00 and gave the stock a "buy" rating in a report on Monday. StockNews.com raised Charter Communications from a "hold" rating to a "buy" rating in a report on Thursday. Barclays increased their price objective on shares of Charter Communications from $315.00 to $320.00 and gave the company an "underweight" rating in a research report on Monday, February 3rd. Loop Capital upped their price objective on Charter Communications from $385.00 to $430.00 and gave the company a "hold" rating in a research report on Monday. Finally, Wells Fargo & Company raised their target price on Charter Communications from $380.00 to $400.00 and gave the stock an "equal weight" rating in a research report on Monday. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $399.35.

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.