Charter Communications, Inc. $CHTR Position Lessened by Pzena Investment Management LLC

Key Points

• Pzena Investment Management LLC has decreased its position in Charter Communications by 4.8%, now holding approximately 2.65 million shares valued at over $1 billion.
• Charter Communications reported an earnings miss, with EPS at $9.18 compared to analysts' estimates of $10.06, although revenue increased slightly year-over-year.
• Institutional ownership of Charter Communications stands at 81.76%, reflecting significant interest from various investors, while the stock currently holds a mixed analyst rating with a target price averaging $373.71.

Pzena Investment Management LLC decreased its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,650,032 shares of the company's stock after selling 133,435 shares during the quarter. Charter Communications makes up 3.5% of Pzena Investment Management LLC's portfolio, making the stock its 8th biggest position. Pzena Investment Management LLC owned 1.89% of Charter Communications worth $1,083,360,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CHTR. SouthState Corp acquired a new position in shares of Charter Communications in the first quarter worth about $25,000. Salem Investment Counselors Inc. lifted its stake in shares of Charter Communications by 2,033.3% in the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company's stock worth $26,000 after acquiring an additional 61 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Charter Communications in the second quarter worth about $28,000. SBI Securities Co. Ltd. lifted its stake in shares of Charter Communications by 93.2% in the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock worth $31,000 after acquiring an additional 41 shares in the last quarter. Finally, Strengthening Families & Communities LLC acquired a new position in shares of Charter Communications in the first quarter worth about $33,000. Institutional investors and hedge funds own 81.76% of the company's stock.

Wall Street Analysts Forecast Growth

CHTR has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Charter Communications in a research note on Wednesday, October 8th. Arete Research upgraded Charter Communications to a "strong sell" rating in a research note on Tuesday, July 8th. Barclays decreased their price target on Charter Communications from $341.00 to $275.00 and set an "underweight" rating for the company in a research note on Monday, July 28th. Royal Bank Of Canada decreased their price target on Charter Communications from $370.00 to $325.00 and set a "sector perform" rating for the company in a research note on Monday, October 6th. Finally, The Goldman Sachs Group initiated coverage on Charter Communications in a research note on Tuesday, September 2nd. They issued a "sell" rating and a $223.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $373.71.

Charter Communications Stock Performance

Shares of CHTR stock opened at $259.49 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. The business has a 50 day moving average of $266.61 and a two-hundred day moving average of $338.90. Charter Communications, Inc. has a 52 week low of $251.80 and a 52 week high of $437.06. The company has a market cap of $35.44 billion, a P/E ratio of 7.11, a PEG ratio of 0.59 and a beta of 1.05.

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

Insider Buying and Selling

In other Charter Communications news, CEO Christopher L. Winfrey purchased 3,670 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were bought at an average price 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Balan Nair purchased 360 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were acquired at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the acquisition, the director owned 9,622 shares of the company's stock, valued at approximately $2,638,448.62. The trade was a 3.89% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.83% of the company's stock.

Charter Communications Company 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.

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