Charter Communications, Inc. $CHTR Shares Sold by Capital World Investors

Key Points

• Capital World Investors cut its stake in Charter by 60.6% in Q3, selling 698,789 shares and now holding 454,091 shares (about $124.9M), while institutional investors collectively own roughly 81.8% of CHTR.
• Analyst coverage is mixed: the consensus rating is "Hold" with an average price target of $335.11, though calls range from TD Cowen's $437 "Buy" to Deutsche Bank's $235 "Hold".
• Charter slightly missed the quarter (EPS $10.34 vs. $10.40 estimate) with revenue down 2.3% YoY; the stock trades near $224, has a P/E of 6.18 and a high debt-to-equity ratio of 4.65.

Capital World Investors lowered its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 60.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 454,091 shares of the company's stock after selling 698,789 shares during the period. Capital World Investors owned about 0.35% of Charter Communications worth $124,923,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of Charter Communications by 129.1% during the 1st quarter. AQR Capital Management LLC now owns 11,875 shares of the company's stock valued at $4,356,000 after acquiring an additional 6,691 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of Charter Communications by 16.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company's stock worth $336,000 after acquiring an additional 128 shares during the period. Jones Financial Companies Lllp increased its stake in Charter Communications by 48.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company's stock valued at $493,000 after purchasing an additional 435 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock valued at $35,000 after purchasing an additional 55 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Charter Communications by 451.1% during the first quarter. Acadian Asset Management LLC now owns 733 shares of the company's stock worth $270,000 after purchasing an additional 600 shares during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CHTR has been the topic of a number of research analyst reports. Sanford C. Bernstein set a $220.00 target price on Charter Communications in a research report on Wednesday, January 28th. TD Cowen raised their price target on Charter Communications from $428.00 to $437.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Zacks Research raised Charter Communications from a "strong sell" rating to a "hold" rating in a research note on Monday, February 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Charter Communications from $275.00 to $235.00 and set a "hold" rating on the stock in a research note on Tuesday, February 3rd. Finally, KeyCorp restated a "sector weight" rating on shares of Charter Communications in a report on Monday, January 26th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $335.11.

Charter Communications Trading Up 2.3%

NASDAQ CHTR opened at $224.36 on Thursday. The company has a market cap of $28.41 billion, a P/E ratio of 6.18, a P/E/G ratio of 0.35 and a beta of 1.02. Charter Communications, Inc. has a 12 month low of $180.38 and a 12 month high of $437.06. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.39 and a quick ratio of 0.39. The company has a 50-day moving average of $216.34 and a 200-day moving average of $229.34.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its earnings results on Friday, January 30th. The company reported $10.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.40 by ($0.06). Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.73 billion. During the same period in the prior year, the business posted $10.10 earnings per share. Charter Communications's revenue was down 2.3% on a year-over-year basis. As a group, equities analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Charter Communications Profile

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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