Hsbc Holdings PLC Decreases Stock Holdings in Charter Communications, Inc. $CHTR

Key Points

• HSBC Holdings PLC reduced its stake in Charter Communications by 11.8% in the fourth quarter, selling 25,241 shares and ending with 188,632 shares valued at about $39.4 million.
• Insiders were buyers: Director Balan Nair and CEO Christopher L. Winfrey both purchased shares on April 28, and insiders have bought 20,125 shares worth $3.17 million over the past 90 days.
• Charter’s latest earnings missed estimates, reporting EPS of $9.17 versus the $10.01 consensus, while analysts now have an average “Reduce” rating and a $290.38 price target on the stock.

Hsbc Holdings PLC cut its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 188,632 shares of the company's stock after selling 25,241 shares during the period. Hsbc Holdings PLC owned approximately 0.15% of Charter Communications worth $39,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CHTR. AQR Capital Management LLC raised its holdings 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 worth $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 first quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company's stock valued at $336,000 after purchasing an additional 128 shares during the period. Jones Financial Companies Lllp increased its position in Charter Communications by 48.1% during the first quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company's stock worth $493,000 after purchasing an additional 435 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Charter Communications by 141.0% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $35,000 after purchasing an additional 55 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake 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 period. Institutional investors and hedge funds own 81.76% of the company's stock.

Insiders Place Their Bets

In other news, Director Balan Nair bought 1,000 shares of Charter Communications stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average price of $175.46 per share, with a total value of $175,460.00. Following the completion of the acquisition, the director directly owned 12,029 shares in the company, valued at $2,110,608.34. The trade was a 9.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher L. Winfrey purchased 3,468 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average price of $172.23 per share, with a total value of $597,293.64. Following the purchase, the chief executive officer directly owned 74,409 shares of the company's stock, valued at $12,815,462.07. The trade was a 4.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 20,125 shares of company stock worth $3,167,116. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on CHTR shares. Freedom Capital upgraded shares of Charter Communications to a "hold" rating in a report on Friday, June 12th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Charter Communications in a research report on Friday, March 27th. Benchmark decreased their price objective on Charter Communications from $455.00 to $435.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. BNP Paribas Exane lowered their price objective on Charter Communications from $160.00 to $150.00 and set an "underperform" rating for the company in a research report on Tuesday, February 24th. Finally, Citigroup reduced their target price on Charter Communications from $290.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $290.38.

Charter Communications Price Performance

Shares of CHTR opened at $131.75 on Wednesday. The firm's 50 day moving average price is $161.11 and its 200 day moving average price is $195.92. The company has a market cap of $16.20 billion, a P/E ratio of 3.56, a PEG ratio of 0.22 and a beta of 0.71. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications, Inc. has a fifty-two week low of $124.05 and a fifty-two week high of $422.29.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same quarter in the previous year, the business posted $8.42 earnings per share. The firm's revenue was down 1.0% on a year-over-year basis. On average, research analysts forecast that Charter Communications, Inc. will post 43 earnings per share for the current fiscal 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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