Charter Communications, Inc. $CHTR Shares Sold by Avanza Fonder AB

Key Points

• Avanza Fonder AB reduced its stock holdings in Charter Communications by 13.6%, now owning 6,596 shares valued at approximately $2.7 million.
• Institutional investors currently hold 81.76% of Charter Communications' stock, with multiple firms adjusting their stakes in the company during the second quarter.
• Charter Communications reported earnings of $9.18 per share, missing estimates by ($0.88), despite revenue slightly exceeding predictions at $13.77 billion.

Avanza Fonder AB lessened its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 13.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,596 shares of the company's stock after selling 1,036 shares during the period. Avanza Fonder AB's holdings in Charter Communications were worth $2,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Makaira Partners LLC grew its position in Charter Communications by 4.0% during the fourth quarter. Makaira Partners LLC now owns 373,191 shares of the company's stock valued at $127,919,000 after acquiring an additional 14,510 shares during the last quarter. Woodline Partners LP purchased a new position in Charter Communications during the 4th quarter valued at $650,000. Vise Technologies Inc. purchased a new stake in Charter Communications during the fourth quarter worth $428,000. Public Employees Retirement System of Ohio raised its holdings in shares of Charter Communications by 6.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 43,669 shares of the company's stock worth $14,968,000 after buying an additional 2,553 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in Charter Communications by 1.7% during the fourth quarter. Toronto Dominion Bank now owns 33,717 shares of the company's stock valued at $11,557,000 after acquiring an additional 560 shares in the last quarter. Institutional investors own 81.76% of the company's stock.

Charter Communications Stock Performance

Shares of Charter Communications stock traded up $3.58 during trading hours on Monday, hitting $266.13. 1,754,440 shares of the company's stock traded hands, compared to its average volume of 1,826,278. The company has a fifty day simple moving average of $286.32 and a 200-day simple moving average of $347.74. The stock has a market capitalization of $36.35 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 0.59 and a beta of 1.02. Charter Communications, Inc. has a 12-month low of $251.80 and a 12-month 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 released its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). The firm had revenue of $13.77 billion during the quarter, compared to analysts' expectations of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. Charter Communications's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.49 EPS. Equities research analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Insider Activity at Charter Communications

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Sanford C. Bernstein lowered their target price on shares of Charter Communications from $380.00 to $350.00 and set an "outperform" rating for the company in a research note on Wednesday, September 10th. Wells Fargo & Company started coverage on Charter Communications in a report on Thursday, August 21st. They set an "equal weight" rating and a $300.00 target price for the company. Bank of America raised their price target on shares of Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Barclays dropped their target price on Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a report on Monday, July 28th. Finally, The Goldman Sachs Group began coverage on shares of Charter Communications in a research note on Tuesday, September 2nd. They issued a "sell" rating and a $223.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $392.94.

About Charter Communications

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.