Los Angeles Capital Management LLC Reduces Holdings in Charter Communications, Inc. $CHTR

Key Points

• Los Angeles Capital Management cut its Charter Communications stake by 56.2% in the fourth quarter, leaving it with 27,252 shares worth about $6.29 million.
• Wall Street sentiment is mixed to negative: analysts have issued more Hold and Sell ratings than Buy ratings, and the stock’s average rating is “Reduce” with a $290.38 price target.
• Charter missed earnings expectations in its latest quarter, posting $9.17 EPS versus $10.01 expected, even though revenue came in roughly in line at $13.60 billion; insiders have also been buying shares recently.

Los Angeles Capital Management LLC trimmed its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 56.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,252 shares of the company's stock after selling 34,947 shares during the period. Los Angeles Capital Management LLC's holdings in Charter Communications were worth $6,293,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vestcor Inc lifted its position in shares of Charter Communications by 49.5% in the 4th quarter. Vestcor Inc now owns 5,405 shares of the company's stock worth $1,128,000 after purchasing an additional 1,789 shares during the period. Mount Capital Ltd lifted its position in shares of Charter Communications by 10.5% in the 4th quarter. Mount Capital Ltd now owns 98,661 shares of the company's stock worth $20,595,000 after purchasing an additional 9,400 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Charter Communications by 2.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 40,248 shares of the company's stock worth $8,402,000 after purchasing an additional 908 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in shares of Charter Communications in the 4th quarter worth about $3,766,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Charter Communications in the 4th quarter worth about $570,000. 81.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. New Street Research dropped 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. Citigroup dropped their target price on shares of Charter Communications from $290.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $210.00 target price on shares of Charter Communications in a research report on Tuesday, May 26th. BNP Paribas Exane decreased their price target on shares of Charter Communications from $160.00 to $150.00 and set an "underperform" rating for the company in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Charter Communications in a research note on Wednesday, April 29th. They issued a "neutral" rating and a $215.00 price target for the company. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, Charter Communications has an average rating of "Reduce" and an average price target of $290.38.

Charter Communications Stock Up 0.1%

Shares of Charter Communications stock opened at $132.20 on Tuesday. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40. The company has a 50-day moving average of $179.78 and a 200 day moving average of $200.85. The firm has a market cap of $16.26 billion, a price-to-earnings ratio of 3.57, a PEG ratio of 0.23 and a beta of 0.72. Charter Communications, Inc. has a 1 year low of $126.70 and a 1 year high of $422.29.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The firm's revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.42 earnings per share. As a group, sell-side analysts anticipate that Charter Communications, Inc. will post 43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Mauricio Ramos acquired 9,929 shares of Charter Communications stock in a transaction on 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 purchase, the director owned 19,309 shares in the company, valued at $2,721,217.37. This trade represents a 105.85% 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 the SEC website. Also, CEO Christopher L. Winfrey acquired 3,468 shares of Charter Communications stock in a transaction on Tuesday, April 28th. The shares were purchased at an average price of $172.23 per share, with a total value of $597,293.64. Following the completion of the purchase, the chief executive officer owned 74,409 shares in the company, valued at $12,815,462.07. This represents a 4.89% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 20,125 shares of company stock worth $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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