Harvey Capital Management Inc. Reduces Position in Charter Communications, Inc. (NASDAQ:CHTR)

Harvey Capital Management Inc. trimmed its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 13.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,372 shares of the company's stock after selling 664 shares during the period. Harvey Capital Management Inc.'s holdings in Charter Communications were worth $1,611,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CHTR. Brown Brothers Harriman & Co. increased its holdings in Charter Communications by 37.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 106 shares of the company's stock valued at $36,000 after buying an additional 29 shares during the last quarter. Brown Advisory Inc. increased its holdings in Charter Communications by 1.1% during the first quarter. Brown Advisory Inc. now owns 2,704 shares of the company's stock valued at $997,000 after buying an additional 29 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Charter Communications by 3.4% during the fourth quarter. Jones Financial Companies Lllp now owns 904 shares of the company's stock valued at $310,000 after buying an additional 30 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Charter Communications by 4.2% during the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the company's stock valued at $254,000 after buying an additional 30 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Charter Communications by 5.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 622 shares of the company's stock worth $213,000 after purchasing an additional 34 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Stock Down 2.0%

Shares of NASDAQ:CHTR traded down $8.10 during trading hours on Wednesday, hitting $403.56. The company's stock had a trading volume of 1,503,479 shares, compared to its average volume of 1,269,816. The firm's fifty day moving average price is $400.98 and its 200 day moving average price is $370.20. The company has a debt-to-equity ratio of 4.54, a current ratio of 0.36 and a quick ratio of 0.36. Charter Communications, Inc. has a 52 week low of $287.19 and a 52 week high of $437.06. The company has a market capitalization of $56.65 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 0.44 and a beta of 1.08.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $8.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.70 by ($0.28). Charter Communications had a return on equity of 27.70% and a net margin of 9.42%. The firm had revenue of $13.74 billion during the quarter, compared to analysts' expectations of $13.67 billion. During the same period in the previous year, the firm earned $7.55 EPS. The firm's quarterly revenue was up .4% on a year-over-year basis. As a group, research analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CHTR. Wells Fargo & Company increased their price objective on shares of Charter Communications from $380.00 to $400.00 and gave the stock an "equal weight" rating in a research note on Monday, April 28th. Oppenheimer upgraded shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 target price for the company in a report on Friday, May 16th. Royal Bank Of Canada raised their target price on shares of Charter Communications from $385.00 to $395.00 and gave the stock a "sector perform" rating in a report on Monday, April 28th. BNP Paribas restated an "underperform" rating and issued a $290.00 target price on shares of Charter Communications in a report on Thursday, April 10th. Finally, Wolfe Research upgraded shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Charter Communications currently has an average rating of "Hold" and an average price target of $421.26.

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.