California State Teachers Retirement System cut its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 6.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,998 shares of the company's stock after selling 8,190 shares during the quarter. California State Teachers Retirement System owned approximately 0.09% of Charter Communications worth $24,178,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Thompson Siegel & Walmsley LLC raised its stake 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 purchasing an additional 97,143 shares in the last quarter. Gateway Investment Advisers LLC bought a new stake in shares of Charter Communications in the 4th quarter valued at approximately $5,911,000. Norges Bank acquired a new position in Charter Communications in the fourth quarter worth approximately $555,383,000. First Eagle Investment Management LLC increased its holdings in Charter Communications by 119.6% in the fourth 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 last quarter. Finally, Swiss Life Asset Management Ltd raised its position in Charter Communications by 110.7% during the fourth quarter. Swiss Life Asset Management Ltd now owns 31,239 shares of the company's stock valued at $6,521,000 after acquiring an additional 16,415 shares in the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Charter Communications
In other Charter Communications news, Director Thomas Rutledge sold 69,633 shares of the business's 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 transaction, the director directly owned 3,968 shares in the company, valued at $573,177.60. The trade was a 94.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mauricio Ramos bought 9,929 shares of Charter Communications stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $140.93 per share, for a total transaction of $1,399,293.97. Following the completion of the acquisition, the director directly owned 19,309 shares in the company, valued at $2,721,217.37. This represents a 105.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.
Charter Communications Price Performance
NASDAQ:CHTR opened at $144.98 on Friday. The company has a market capitalization of $17.29 billion, a price-to-earnings ratio of 3.76, a PEG ratio of 0.24 and a beta of 0.71. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.40 and a current ratio of 0.36. Charter Communications, Inc. has a 52 week low of $111.55 and a 52 week high of $285.82. The company has a 50-day moving average of $135.65 and a 200-day moving average of $181.61.
Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating analysts' consensus estimates of $9.98 by $0.68. The company had revenue of $13.53 billion for the quarter, compared to the consensus estimate of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The company's quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $9.18 earnings per share. As a group, equities research analysts anticipate that Charter Communications, Inc. will post 42.72 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on CHTR. Freedom Capital upgraded shares of Charter Communications to a "hold" rating in a research note on Friday, June 12th. Royal Bank Of Canada cut their price target on shares of Charter Communications from $160.00 to $150.00 and set a "sector perform" rating on the stock in a report on Monday, July 27th. UBS Group reduced their price objective on shares of Charter Communications from $235.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, July 27th. Weiss Ratings restated a "sell (d+)" rating on shares of Charter Communications in a report on Wednesday, June 24th. Finally, New Street Research cut their target price on shares of Charter Communications from $328.00 to $302.00 and set a "buy" rating for the company in a research report on Wednesday, May 20th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $226.88.
Check Out Our Latest Research Report on CHTR
About Charter Communications
(
Free Report)
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.
Further Reading
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