Mizuho Securities USA LLC Sells 1,435 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Mizuho Securities USA LLC has reduced its stake in Charter Communications, Inc. by 15.7%, now holding 7,729 shares valued at approximately $2.85 million.
• CEO Christopher L. Winfrey and Director Balan Nair both increased their holdings in the company, with Winfrey acquiring 3,670 shares and Nair purchasing 360 shares.
• Research analysts currently rate Charter Communications with a consensus of "Hold" and have set an average price target of $410.59 for the stock.

Mizuho Securities USA LLC reduced its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 15.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,729 shares of the company's stock after selling 1,435 shares during the quarter. Mizuho Securities USA LLC's holdings in Charter Communications were worth $2,848,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in shares of Charter Communications by 10.5% in the first quarter. Allworth Financial LP now owns 283 shares of the company's stock worth $104,000 after acquiring an additional 27 shares during the period. Hemington Wealth Management lifted its stake in shares of Charter Communications by 24.3% in the first quarter. Hemington Wealth Management now owns 143 shares of the company's stock worth $52,000 after acquiring an additional 28 shares during the period. Brown Advisory Inc. lifted its stake in shares of Charter Communications by 1.1% in the first quarter. Brown Advisory Inc. now owns 2,704 shares of the company's stock worth $997,000 after acquiring an additional 29 shares during the period. Kathmere Capital Management LLC lifted its stake in shares of Charter Communications by 3.8% in the first quarter. Kathmere Capital Management LLC now owns 876 shares of the company's stock worth $323,000 after acquiring an additional 32 shares during the period. Finally, Blair William & Co. IL lifted its stake in shares of Charter Communications by 4.9% in the first quarter. Blair William & Co. IL now owns 818 shares of the company's stock worth $301,000 after acquiring an additional 38 shares during the period. 81.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Charter Communications

In related news, CEO Christopher L. Winfrey purchased 3,670 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price 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 of the company's stock, valued at $19,183,363.30. This represents a 5.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Balan Nair purchased 360 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $274.21 per share, with a total value of $98,715.60. Following the acquisition, the director directly owned 9,622 shares of the company's stock, valued at $2,638,448.62. This represents a 3.89% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CHTR. Royal Bank Of Canada cut their price objective on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a research note on Monday, July 28th. Arete Research raised Charter Communications to a "strong sell" rating in a research note on Tuesday, July 8th. Oppenheimer raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price target on the stock in a research note on Friday, May 16th. Wells Fargo & Company boosted their price target on Charter Communications from $380.00 to $400.00 and gave the company an "equal weight" rating in a research note on Monday, April 28th. Finally, Loop Capital raised Charter Communications from a "hold" rating to a "buy" rating and boosted their price target for the company from $430.00 to $510.00 in a research note on Monday, May 19th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $410.59.

Charter Communications Trading Down 0.9%

NASDAQ CHTR opened at $256.57 on Monday. The company has a market cap of $35.04 billion, a price-to-earnings ratio of 7.03, a P/E/G ratio of 0.57 and a beta of 1.02. Charter Communications, Inc. has a 52 week low of $256.03 and a 52 week high of $437.06. The business has a 50 day moving average price of $368.33 and a 200-day moving average price of $368.10. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced 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 company had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.76 billion. During the same quarter last year, the company posted $8.49 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

About Charter Communications

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.

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