Hsbc Holdings PLC Has $33.32 Million Stock Position in Charter Communications, Inc. $CHTR

Key Points

• HSBC Holdings cut its Charter Communications stake by 16.3% in the first quarter, but still held 154,015 shares valued at about $33.3 million.
• Charter’s latest quarterly results missed earnings expectations, with EPS of $9.17 versus the $10.01 estimate, while revenue came in slightly above forecasts at $13.60 billion.
• Analyst sentiment remains cautious: several firms lowered price targets, and the stock now carries a consensus “Reduce” rating with an average target price of $249.12.

Hsbc Holdings PLC reduced its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,015 shares of the company's stock after selling 30,017 shares during the period. Hsbc Holdings PLC owned about 0.12% of Charter Communications worth $33,320,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of CHTR. Thompson Siegel & Walmsley LLC raised its stake in shares of 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 in the last quarter. Gateway Investment Advisers LLC bought a new stake in Charter Communications during the fourth quarter worth approximately $5,911,000. Norges Bank acquired a new position in Charter Communications during the fourth quarter valued at approximately $555,383,000. First Eagle Investment Management LLC grew its holdings in Charter Communications by 119.6% during the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company's stock valued at $619,885,000 after purchasing an additional 1,617,148 shares during the last quarter. Finally, Swiss Life Asset Management Ltd raised its position in shares of Charter Communications by 110.7% in the fourth quarter. Swiss Life Asset Management Ltd now owns 31,239 shares of the company's stock valued at $6,521,000 after purchasing an additional 16,415 shares during the period. Hedge funds and other institutional investors own 81.76% of the company's stock.

Wall Street Analyst Weigh In

CHTR has been the subject of several recent analyst reports. BNP Paribas Exane decreased their price objective on shares of Charter Communications from $150.00 to $120.00 and set an "underperform" rating for the company in a report on Tuesday, July 14th. New Street Research dropped their target price on shares of Charter Communications from $328.00 to $302.00 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Weiss Ratings reissued a "sell (d+)" rating on shares of Charter Communications in a research report on Wednesday, June 24th. Barclays cut their target price on shares of Charter Communications from $200.00 to $130.00 and set an "underweight" rating for the company in a research report on Wednesday, July 8th. Finally, Citigroup lowered their price target on Charter Communications from $230.00 to $190.00 and set a "buy" rating on the stock in a research report on Monday, June 29th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $249.12.

Charter Communications Trading Down 1.7%

Charter Communications stock opened at $129.16 on Tuesday. The business has a 50 day moving average price of $137.47 and a two-hundred day moving average price of $186.15. 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 12 month low of $124.05 and a 12 month high of $402.15. The stock has a market cap of $15.89 billion, a price-to-earnings ratio of 3.49, a price-to-earnings-growth ratio of 0.24 and a beta of 0.71.

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 for the quarter, missing the consensus estimate of $10.01 by ($0.84). The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.Charter Communications's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $8.42 EPS. As a group, equities analysts forecast that Charter Communications, Inc. will post 41.47 EPS for the current year.

Insider Transactions at Charter Communications

In other news, Director Thomas Rutledge sold 69,633 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $144.45, for a total transaction of $10,058,486.85. Following the completion of the transaction, the director directly owned 3,968 shares of the company's stock, valued at approximately $573,177.60. This trade represents a 94.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Balan Nair acquired 1,000 shares of Charter Communications stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average cost 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. This trade represents a 9.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 20,125 shares of company stock valued at $3,167,116 over the last 90 days. Corporate insiders own 1.10% of the company's stock.

Charter Communications Company 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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