National Bank of Canada FI Sells 96,114 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• National Bank of Canada FI reduced its stake in Charter Communications by 71.5%, selling 96,114 shares and holding 38,343 shares valued at approximately $14.13 million.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have notably increased their stakes in Charter Communications, indicating continued interest in the company.
• Wall Street analysts have mixed views on Charter Communications, with price targets ranging from $355 to $400 and an overall average rating of "Hold".

National Bank of Canada FI cut its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 71.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,343 shares of the company's stock after selling 96,114 shares during the period. National Bank of Canada FI's holdings in Charter Communications were worth $14,130,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Charter Communications by 1.5% during the first quarter. Vanguard Group Inc. now owns 8,191,760 shares of the company's stock worth $3,018,909,000 after purchasing an additional 120,303 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Charter Communications by 822.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,263,721 shares of the company's stock worth $433,167,000 after purchasing an additional 1,126,783 shares during the last quarter. Northern Trust Corp lifted its stake in Charter Communications by 16.6% during the fourth quarter. Northern Trust Corp now owns 1,001,066 shares of the company's stock worth $343,135,000 after purchasing an additional 142,883 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Charter Communications by 21.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 900,849 shares of the company's stock valued at $308,795,000 after acquiring an additional 161,547 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Charter Communications by 3.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 876,427 shares of the company's stock valued at $322,990,000 after acquiring an additional 28,506 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CHTR shares. Wells Fargo & Company increased 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. Royal Bank Of Canada dropped their price target on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating for the company in a research note on Monday, July 28th. Sanford C. Bernstein upgraded Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 price target for the company in a research note on Monday, July 28th. Arete Research upgraded Charter Communications to a "strong sell" rating in a research note on Tuesday, July 8th. Finally, UBS Group dropped their price target on Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $410.59.

Charter Communications Stock Performance

Shares of Charter Communications stock opened at $258.77 on Tuesday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. The business has a 50-day moving average price of $365.61 and a two-hundred day moving average price of $367.34. Charter Communications, Inc. has a 1-year low of $254.67 and a 1-year high of $437.06. The company has a market cap of $35.35 billion, a P/E ratio of 7.09, a PEG ratio of 0.57 and a beta of 1.02.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%. The business had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same quarter in the previous year, the business posted $8.49 earnings per share. The business's revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current year.

Insider Transactions at Charter Communications

In other Charter Communications news, Director Balan Nair purchased 360 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the acquisition, the director owned 9,622 shares in the company, valued at approximately $2,638,448.62. The trade was a 3.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher L. Winfrey acquired 3,670 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $273.10 per share, for a total transaction of $1,002,277.00. Following the transaction, the chief executive officer directly owned 70,243 shares in the company, valued at approximately $19,183,363.30. This represents a 5.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.83% of the company's stock.

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.

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