14B Captial Management LP Has $4.91 Million Holdings in Charter Communications, Inc. $CHTR

Key Points

• 14B Capital Management cut its Charter Communications stake by 68.7% in the fourth quarter, leaving it with 23,500 shares worth about $4.91 million.
• Institutional ownership remains heavy, with big investors like Dodge & Cox, Vanguard, and State Street also adjusting their positions; overall, institutions own 81.76% of Charter’s stock.
• Charter’s fundamentals and sentiment look pressured: the stock is down sharply, it missed EPS estimates in its latest earnings report, and Wall Street currently has an average rating of “Reduce” with a consensus price target of $290.38.

14B Captial Management LP trimmed its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 68.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,500 shares of the company's stock after selling 51,500 shares during the period. Charter Communications accounts for approximately 3.9% of 14B Captial Management LP's holdings, making the stock its 7th largest position. 14B Captial Management LP's holdings in Charter Communications were worth $4,906,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dodge & Cox boosted 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 period. Vanguard Group Inc. boosted its holdings in Charter Communications by 9.5% in the 4th quarter. Vanguard Group Inc. now owns 10,248,287 shares of the company's stock valued at $2,139,330,000 after purchasing an additional 885,935 shares during the period. State Street Corp boosted its holdings in Charter Communications by 22.7% in the 3rd quarter. State Street Corp now owns 7,961,695 shares of the company's stock valued at $2,190,302,000 after purchasing an additional 1,475,383 shares during the period. Capital Research Global Investors boosted its holdings in Charter Communications by 304.9% in the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company's stock valued at $1,005,222,000 after purchasing an additional 3,626,135 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in Charter Communications by 119.6% in the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company's stock valued at $619,885,000 after purchasing an additional 1,617,148 shares during the period. 81.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Charter Communications from $235.00 to $215.00 and set a "hold" rating for the company in a research note on Monday, April 27th. JPMorgan Chase & Co. assumed coverage on shares of Charter Communications in a research note on Wednesday, April 29th. They issued a "neutral" rating and a $215.00 price objective for the company. BNP Paribas Exane dropped their price objective on shares of Charter Communications from $160.00 to $150.00 and set an "underperform" rating for the company in a research note on Tuesday, February 24th. Freedom Capital upgraded shares of Charter Communications to a "hold" rating in a research note on Friday, June 12th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and set a $210.00 target price on shares of Charter Communications in a research report on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat, Charter Communications has an average rating of "Reduce" and a consensus price target of $290.38.

Insider Activity at Charter Communications

In other news, Director Wade Davis acquired 5,728 shares of Charter Communications stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average price of $173.72 per share, with a total value of $995,068.16. Following the purchase, the director directly owned 6,925 shares of the company's stock, valued at $1,203,011. The trade was a 478.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Rutledge sold 18,200 shares of Charter Communications stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the transaction, the director directly owned 3,968 shares in the company, valued at approximately $583,057.92. This represents a 82.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have acquired 20,125 shares of company stock worth $3,167,116 over the last 90 days. Insiders own 1.10% of the company's stock.

Charter Communications Trading Down 6.9%

CHTR opened at $132.00 on Thursday. 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 stock has a market capitalization of $16.23 billion, a PE ratio of 3.56, a PEG ratio of 0.24 and a beta of 0.71. Charter Communications, Inc. has a 1-year low of $126.70 and a 1-year high of $422.29. The firm has a 50-day moving average price of $168.66 and a two-hundred day moving average price of $197.92.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $13.56 billion. During the same quarter in the previous year, the business posted $8.42 EPS. The company's revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that Charter Communications, Inc. will post 43 earnings per share for the current fiscal year.

Charter Communications Profile

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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