PNC Financial Services Group Inc. Cuts Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

PNC Financial Services Group Inc. lowered its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 32.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 20,482 shares of the company's stock after selling 9,912 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Charter Communications were worth $7,548,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allworth Financial LP boosted its holdings in Charter Communications by 10.5% in the first quarter. Allworth Financial LP now owns 283 shares of the company's stock valued at $104,000 after acquiring an additional 27 shares in the last quarter. Brown Advisory Inc. lifted its holdings in 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 buying an additional 29 shares during the period. Quadrant Capital Group LLC boosted its position in Charter Communications by 4.2% during the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the company's stock valued at $254,000 after acquiring an additional 30 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Charter Communications by 3.8% during the 1st 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, Larson Financial Group LLC raised its position in shares of Charter Communications by 70.2% in the 1st quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 81.76% of the company's stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of brokerages have recently commented on CHTR. Morgan Stanley boosted their target price on shares of Charter Communications from $385.00 to $415.00 and gave the company an "equal weight" rating in a report on Monday, April 28th. Citigroup increased their target price on Charter Communications from $425.00 to $445.00 and gave the stock a "buy" rating in a research note on Monday, April 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 report on Monday, July 28th. Royal Bank Of Canada dropped their price target on shares of 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. Finally, Wall Street Zen upgraded shares of Charter Communications from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Three investment 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, the company presently has an average rating of "Hold" and a consensus price target of $410.59.

Charter Communications Stock Performance

NASDAQ:CHTR traded down $2.21 on Friday, hitting $256.57. The stock had a trading volume of 1,782,047 shares, compared to its average volume of 2,646,453. The business's 50-day simple moving average is $368.33 and its two-hundred day simple moving average is $368.04. The stock has a market cap of $35.05 billion, a price-to-earnings ratio of 7.03, a price-to-earnings-growth 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 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 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 net margin of 9.53% and a return on equity of 26.77%. The business 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 firm posted $8.49 earnings per share. The business's quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Charter Communications 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.