Charter Communications, Inc. $CHTR Shares Sold by Reaves W H & Co. Inc.

Key Points

• Reaves W H & Co. Inc. cut its Charter Communications stake by 85.7% in the fourth quarter, leaving it with 24,500 shares valued at about $5.1 million.
• Charter reported quarterly earnings of $9.17 per share, missing Wall Street’s estimate of $10.01, while revenue came in at $13.60 billion, slightly above expectations but down 1.0% year over year.
• The stock has drawn mixed signals from analysts and insiders: the average analyst rating is “Reduce” with a $290.38 price target, while director Thomas Rutledge sold shares and CEO Christopher L. Winfrey bought shares earlier this year.

Reaves W H & Co. Inc. reduced its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 85.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,500 shares of the company's stock after selling 146,420 shares during the quarter. Reaves W H & Co. Inc.'s holdings in Charter Communications were worth $5,114,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Thompson Siegel & Walmsley LLC increased its position in Charter Communications by 1,804.0% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 102,528 shares of the company's stock valued at $21,403,000 after acquiring an additional 97,143 shares during the period. Florida Financial Advisors LLC acquired a new stake in Charter Communications in the 4th quarter valued at approximately $268,000. Nomura Asset Management Co. Ltd. increased its position in Charter Communications by 3.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 38,337 shares of the company's stock valued at $8,003,000 after acquiring an additional 1,376 shares during the period. MUFG Securities EMEA plc increased its position in Charter Communications by 102.9% in the 4th quarter. MUFG Securities EMEA plc now owns 3,608 shares of the company's stock valued at $753,000 after acquiring an additional 1,830 shares during the period. Finally, Norges Bank acquired a new stake in Charter Communications in the 4th quarter valued at approximately $555,383,000. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Price Performance

Shares of CHTR stock opened at $144.05 on Monday. Charter Communications, Inc. has a 1 year low of $136.63 and a 1 year high of $422.29. The stock has a market cap of $17.72 billion, a PE ratio of 3.89, a price-to-earnings-growth ratio of 0.25 and a beta of 0.72. The business's fifty day moving average is $189.60 and its 200-day moving average is $203.86. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.56 billion. During the same quarter last year, the business posted $8.42 earnings per share. The firm's revenue for the quarter was down 1.0% compared to the same quarter last year. Equities analysts expect that Charter Communications, Inc. will post 43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on CHTR shares. TD Cowen raised their target price on Charter Communications from $428.00 to $437.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. BNP Paribas Exane lowered their target price on Charter Communications from $160.00 to $150.00 and set an "underperform" rating on the stock in a research report on Tuesday, February 24th. New Street Research lowered their target price on Charter Communications from $328.00 to $302.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Williams Trading set a $437.00 target price on Charter Communications in a research report on Monday, February 2nd. Finally, Zacks Research upgraded Charter Communications from a "strong sell" rating to a "hold" rating in a research report on Monday, February 16th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $290.38.

Insider Activity at Charter Communications

In other news, Director Thomas Rutledge sold 69,633 shares of Charter Communications stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $144.45, for a total transaction of $10,058,486.85. Following the transaction, the director directly owned 3,968 shares in the company, valued at approximately $573,177.60. This trade represents a 94.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher L. Winfrey purchased 3,468 shares of the stock in a transaction dated Tuesday, April 28th. The shares were purchased at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the completion of the transaction, the chief executive officer owned 74,409 shares in the company, valued at $12,815,462.07. This trade represents a 4.89% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 20,125 shares of company stock worth $3,167,116 in the last quarter. Company insiders own 1.10% of the company's stock.

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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