National Pension Service Reduces Holdings in Charter Communications, Inc. $CHTR

Key Points

• National Pension Service reduced its Charter Communications stake by 5.3% in the second quarter, selling 8,653 shares and retaining 154,912 shares valued at approximately $22.0 million.
• Charter reported quarterly revenue of $13.53 billion and earnings of $10.66 per share, beating analyst estimates, though revenue declined 1.7% year over year.
• Analyst sentiment remains mixed but centers on a “Hold” rating; the stock opened at $145.77, while its average analyst price target was $226.88.

National Pension Service trimmed its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 154,912 shares of the company's stock after selling 8,653 shares during the quarter. National Pension Service owned approximately 0.13% of Charter Communications worth $22,030,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CHTR. Thompson Siegel & Walmsley LLC increased 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 worth $21,403,000 after purchasing an additional 97,143 shares in the last quarter. Norges Bank purchased a new position in Charter Communications during the fourth quarter valued at $555,383,000. Polianta Ltd bought a new stake in Charter Communications during the second quarter valued at about $1,777,000. BW Gestao de Investimentos Ltda. bought a new stake in Charter Communications during the fourth quarter valued at about $3,131,000. Finally, California First Leasing Corp increased its position in Charter Communications by 100.1% in the first quarter. California First Leasing Corp now owns 24,772 shares of the company's stock worth $5,348,000 after buying an additional 12,390 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Price Performance

Shares of Charter Communications stock opened at $145.77 on Friday. The stock's 50-day simple moving average is $143.65 and its 200-day simple moving average is $168.56. Charter Communications, Inc. has a 52 week low of $111.55 and a 52 week high of $285.82. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 3.79, a PEG ratio of 0.31 and a beta of 0.69. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its earnings results on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.98 by $0.68. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The company had revenue of $13.53 billion for the quarter, compared to the consensus estimate of $13.51 billion. During the same quarter last year, the company earned $9.18 EPS. The firm's quarterly revenue was down 1.7% on a year-over-year basis. As a group, analysts expect that Charter Communications, Inc. will post 42.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CHTR. Freedom Capital raised Charter Communications to a "hold" rating in a research note on Friday, June 12th. UBS Group reduced their target price on shares of Charter Communications from $235.00 to $140.00 and set a "neutral" rating for the company in a report on Monday, July 27th. BNP Paribas Exane decreased their target price on shares of Charter Communications from $150.00 to $120.00 and set an "underperform" rating on the stock in a research note on Tuesday, July 14th. The Goldman Sachs Group lowered their price target on shares of Charter Communications from $185.00 to $125.00 and set a "sell" rating on the stock in a report on Thursday, July 2nd. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $150.00 price target on shares of Charter Communications in a research report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $226.88.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company's consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.

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