Capital Group Private Client Services Inc. Has $475,000 Stock Holdings in Charter Communications, Inc. $CHTR

Key Points

• Capital Group Private Client Services sharply cut its Charter Communications stake by 90.9% in the fourth quarter, ending with 2,277 shares valued at about $475,000.
• Several other institutional investors also moved into or increased positions in Charter, and institutions now own 81.76% of the company’s stock.
• Charter reported quarterly EPS of $9.17, missing estimates, while analysts remain mixed: the consensus rating is “Reduce” with an average target price of $290.38.

Capital Group Private Client Services Inc. lessened its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 90.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,277 shares of the company's stock after selling 22,744 shares during the period. Capital Group Private Client Services Inc.'s holdings in Charter Communications were worth $475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC acquired a new stake in Charter Communications in the fourth quarter worth about $5,911,000. Thompson Siegel & Walmsley LLC grew its position in shares of Charter Communications by 1,804.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 102,528 shares of the company's stock worth $21,403,000 after buying an additional 97,143 shares during the period. First Eagle Investment Management LLC grew its position in shares of Charter Communications by 119.6% during the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company's stock worth $619,885,000 after buying an additional 1,617,148 shares during the period. Norges Bank acquired a new position in shares of Charter Communications during the 4th quarter worth about $555,383,000. Finally, Swiss Life Asset Management Ltd grew its position in shares of Charter Communications by 110.7% during the 4th quarter. Swiss Life Asset Management Ltd now owns 31,239 shares of the company's stock worth $6,521,000 after buying an additional 16,415 shares during the period. Institutional investors and hedge funds own 81.76% of the company's stock.

Insider Transactions at Charter Communications

In other news, Director Balan Nair bought 1,000 shares of the business's stock in a transaction on Tuesday, April 28th. The shares were purchased at an average price of $175.46 per share, for a total transaction of $175,460.00. Following the purchase, the director owned 12,029 shares of the company's stock, valued at approximately $2,110,608.34. The trade was a 9.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher L. Winfrey bought 3,468 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was purchased at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the purchase, the chief executive officer directly owned 74,409 shares in the company, valued at approximately $12,815,462.07. This represents a 4.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 20,125 shares of company stock worth $3,167,116. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CHTR. Royal Bank Of Canada decreased their target price on Charter Communications from $250.00 to $220.00 and set a "sector perform" rating for the company in a research report on Monday, April 27th. Weiss Ratings restated a "sell (d+)" rating on shares of Charter Communications in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft decreased their target price on Charter Communications from $235.00 to $215.00 and set a "hold" rating for the company in a research report on Monday, April 27th. 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 research report on Wednesday, May 20th. Finally, Sanford C. Bernstein restated 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 research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, Charter Communications has an average rating of "Reduce" and an average price target of $290.38.

Charter Communications Price Performance

Shares of CHTR opened at $132.12 on Monday. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a 50 day simple moving average of $181.51 and a 200 day simple moving average of $201.33. Charter Communications, Inc. has a 52-week low of $126.70 and a 52-week high of $422.29. The firm has a market capitalization of $16.25 billion, a PE ratio of 3.57, a P/E/G ratio of 0.23 and a beta of 0.72.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share (EPS) 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 business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same quarter in the prior year, the firm posted $8.42 earnings per share. Charter Communications's revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts predict that Charter Communications, Inc. will post 43 EPS for the current fiscal 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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