Citigroup Inc. Sells 123,765 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Citigroup Inc. reduced its position in Charter Communications by 27.7%, now holding 323,668 shares worth approximately $119 million.
• Recent analyst ratings for Charter Communications show mixed reviews, with Morgan Stanley increasing their target price to $415 while UBS Group lowered it to $355, resulting in a consensus rating of "Hold" with an average target of $410.59.
• Insider trading activity includes Director Balan Nair and CEO Christopher L. Winfrey acquiring shares, indicating confidence in the company, despite an overall 0.83% insider ownership.

Citigroup Inc. cut its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 27.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 323,668 shares of the company's stock after selling 123,765 shares during the quarter. Citigroup Inc. owned about 0.23% of Charter Communications worth $119,281,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Charter Communications by 12.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 178,852 shares of the company's stock valued at $65,912,000 after acquiring an additional 19,282 shares in the last quarter. CenterBook Partners LP acquired a new position in Charter Communications in the first quarter valued at approximately $3,469,000. Ontario Teachers Pension Plan Board boosted its stake in Charter Communications by 82.2% in the first quarter. Ontario Teachers Pension Plan Board now owns 4,601 shares of the company's stock valued at $1,696,000 after acquiring an additional 2,076 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Charter Communications by 3.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 876,427 shares of the company's stock valued at $322,990,000 after acquiring an additional 28,506 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new position in Charter Communications in the first quarter valued at approximately $3,295,000. 81.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Charter Communications

In other news, CEO Christopher L. Winfrey bought 3,670 shares of the business's stock in a transaction on Thursday, July 31st. The shares were bought at an average cost of $273.10 per share, for a total transaction 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 trade represents a 5.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Balan Nair bought 360 shares of the business's stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the acquisition, the director owned 9,622 shares of the company's stock, valued at approximately $2,638,448.62. This trade represents a 3.89% increase in their position. The disclosure for this purchase can be found here. 0.83% of the stock is owned by corporate insiders.

Charter Communications Stock Performance

Shares of CHTR traded up $4.33 during trading hours on Tuesday, reaching $263.10. 1,645,023 shares of the company traded hands, compared to its average volume of 1,480,188. The stock's fifty day moving average is $365.61 and its 200 day moving average is $367.34. The stock has a market cap of $35.94 billion, a P/E ratio of 7.20, a price-to-earnings-growth ratio of 0.57 and a beta of 1.02. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. Charter Communications, Inc. has a 1-year low of $254.67 and a 1-year high of $437.06.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on Charter Communications from $380.00 to $400.00 and gave the stock an "equal weight" rating in a report on Monday, April 28th. Oppenheimer raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 target price on the stock in a report on Friday, May 16th. Sanford C. Bernstein raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 target price on the stock in a report on Monday, July 28th. Wolfe Research raised Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. Finally, Citigroup boosted their target price on Charter Communications from $425.00 to $445.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Charter Communications presently has an average rating of "Hold" and an average price target of $410.59.

Charter Communications 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.