Annis Gardner Whiting Capital Advisors LLC Trims Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Annis Gardner Whiting Capital Advisors LLC reduced its holdings in Charter Communications by 30.6%, selling 1,166 shares and now owning 2,650 shares valued at approximately $977,000.
• Analysts have varied price targets for Charter Communications, with Bank of America setting a new target of $500.00 and consensus ratings reflecting a mix of buy, hold, and sell evaluations.
• Charter Communications recently reported quarterly earnings of $9.18 per share, falling short of the $10.06 consensus estimate, while revenue increased by 0.6% year-over-year.

Annis Gardner Whiting Capital Advisors LLC decreased its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 30.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,650 shares of the company's stock after selling 1,166 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC's holdings in Charter Communications were worth $977,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. iA Global Asset Management Inc. grew its stake in shares of Charter Communications by 2.0% during the first quarter. iA Global Asset Management Inc. now owns 15,625 shares of the company's stock worth $5,758,000 after purchasing an additional 299 shares in the last quarter. Reaves W H & Co. Inc. boosted its position in shares of Charter Communications by 13.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 139,153 shares of the company's stock worth $51,282,000 after acquiring an additional 17,000 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Charter Communications in the 1st quarter valued at about $136,000. Costello Asset Management INC acquired a new stake in shares of Charter Communications during the 1st quarter worth about $37,000. Finally, Blair William & Co. IL lifted its stake in Charter Communications by 4.9% during the first quarter. Blair William & Co. IL now owns 818 shares of the company's stock worth $301,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Charter Communications from $380.00 to $400.00 and gave the company an "equal weight" rating in a research note on Monday, April 28th. Morgan Stanley increased their target price on shares of Charter Communications from $385.00 to $415.00 and gave the company an "equal weight" rating in a research report on Monday, April 28th. Arete Research raised shares of Charter Communications to a "strong sell" rating in a research report on Tuesday, July 8th. Loop Capital raised Charter Communications from a "hold" rating to a "buy" rating and raised their price objective for the stock from $430.00 to $510.00 in a report on Monday, May 19th. Finally, Royal Bank Of Canada cut their target price on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a research report on Monday, July 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Charter Communications has an average rating of "Hold" and a consensus target price of $410.59.

Insiders Place Their Bets

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

Charter Communications Stock Performance

NASDAQ CHTR traded down $2.21 on Friday, hitting $256.57. 1,782,047 shares of the company's stock were exchanged, compared to its average volume of 2,646,453. The firm has a market cap of $35.04 billion, a price-to-earnings ratio of 7.03, a P/E/G ratio of 0.58 and a beta of 1.02. The firm's 50-day moving average price is $368.33 and its two-hundred day moving average price is $367.94. Charter Communications, Inc. has a fifty-two week low of $256.03 and a fifty-two week high of $437.06. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%. The business had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same period in the prior year, the company earned $8.49 EPS. The company's revenue was up .6% on a year-over-year basis. On average, research analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current year.

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.