Capital International Investors Sells 6,511,392 Shares of Charter Communications, Inc. $CHTR

Key Points

• Capital International Investors cut its Charter Communications stake by 71.3% in the fourth quarter, selling 6.51 million shares and ending with 2.63 million shares valued at about $548.2 million.
• Other big investors were active too: Norges Bank opened a large new position, while First Eagle, State Street, and Vanguard all increased their holdings, and institutional ownership remains high at 81.76%.
• Charter’s stock has been under pressure, with shares near $132 versus a 52-week high of $422.29, and the company recently missed earnings expectations even as revenue came in slightly above consensus.

Capital International Investors trimmed its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 71.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,625,889 shares of the company's stock after selling 6,511,392 shares during the quarter. Capital International Investors owned approximately 2.07% of Charter Communications worth $548,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Charter Communications in the fourth quarter worth $555,383,000. First Eagle Investment Management LLC boosted its holdings 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 valued at $619,885,000 after buying an additional 1,617,148 shares in the last quarter. State Street Corp boosted its holdings in shares of Charter Communications by 22.7% during the 3rd quarter. State Street Corp now owns 7,961,695 shares of the company's stock valued at $2,190,302,000 after buying an additional 1,475,383 shares in the last quarter. Capital Research Global Investors purchased a new stake in shares of Charter Communications in the 3rd quarter worth about $327,179,000. Finally, Vanguard Group Inc. grew its position in shares of Charter Communications by 13.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company's stock worth $2,575,630,000 after buying an additional 1,130,648 shares during the period. Hedge funds and other institutional investors own 81.76% of the company's stock.

Insider Transactions at Charter Communications

In other news, Director Mauricio Ramos acquired 9,929 shares of Charter Communications stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $140.93 per share, for a total transaction of $1,399,293.97. Following the completion of the transaction, the director owned 19,309 shares in the company, valued at $2,721,217.37. The trade was a 105.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Rutledge sold 69,633 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $144.45, for a total value of $10,058,486.85. Following the completion of the transaction, the director directly owned 3,968 shares in the company, valued at approximately $573,177.60. This represents a 94.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders bought 20,125 shares of company stock worth $3,167,116. Company insiders own 1.10% of the company's stock.

Charter Communications Stock Performance

Shares of CHTR stock opened at $132.12 on Monday. The company has a 50 day moving average price of $181.51 and a 200-day moving average price 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. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56.

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 for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $13.56 billion. During the same quarter last year, the company earned $8.42 EPS. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities research analysts expect that Charter Communications, Inc. will post 43 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Benchmark lowered their price target on shares of Charter Communications from $455.00 to $435.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Royal Bank Of Canada decreased their target price on shares of Charter Communications from $250.00 to $220.00 and set a "sector perform" rating for the company in a research note on Monday, April 27th. New Street Research lowered their target price on shares of Charter Communications from $328.00 to $302.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Sanford C. Bernstein reissued a "market perform" rating and issued a $210.00 price target on shares of Charter Communications in a research report on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Charter Communications in a research report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $290.38.

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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