NEOS Investment Management LLC Sells 71,920 Shares of Charter Communications, Inc. $CHTR

Key Points

• NEOS Investment Management cut its Charter Communications stake by 84.5% in the second quarter, selling 71,920 shares and retaining 13,191 shares valued at approximately $1.88 million.
• Institutional ownership remains high at 81.76%, despite mixed activity: several funds opened new positions while other investors adjusted their holdings.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $226.88. Charter recently beat quarterly EPS estimates, reporting $10.66 per share versus the $9.98 consensus, while revenue declined 1.7% year over year.

NEOS Investment Management LLC trimmed its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 84.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,191 shares of the company's stock after selling 71,920 shares during the period. NEOS Investment Management LLC's holdings in Charter Communications were worth $1,876,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AXQ Capital LP bought a new position in shares of Charter Communications in the second quarter valued at approximately $2,389,000. Nykredit A S bought a new stake in Charter Communications during the second quarter worth $3,766,000. Proficio Capital Partners LLC purchased a new position in Charter Communications in the second quarter worth $329,000. Quantitative Investment Management LLC purchased a new position in Charter Communications in the second quarter worth $825,000. Finally, Public Employees Retirement System of Ohio bought a new position in Charter Communications in the 2nd quarter valued at $3,637,000. Hedge funds and other institutional investors own 81.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Zacks Research upgraded Charter Communications from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. TD Cowen reduced their price target on shares of Charter Communications from $413.00 to $380.00 and set a "buy" rating for the company in a research report on Monday, July 27th. 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. Barclays lowered their price objective on shares of Charter Communications from $130.00 to $115.00 and set an "underweight" rating on the stock in a research report on Monday, July 27th. Finally, New Street Research reduced 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. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $226.88.

Charter Communications Price Performance

CHTR opened at $151.99 on Tuesday. The company has a 50 day moving average of $143.46 and a 200 day moving average of $170.70. The company has a market cap of $18.13 billion, a PE ratio of 3.95, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. Charter Communications, Inc. has a 12 month low of $111.55 and a 12 month high of $285.82. The company has a current ratio of 0.36, a quick 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 analysts' consensus estimates of $9.98 by $0.68. The business had revenue of $13.53 billion for the quarter, compared to analysts' expectations of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.18 EPS. On average, sell-side analysts expect that Charter Communications, Inc. will post 42.72 EPS for the current year.

Charter Communications 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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