Charter Communications, Inc. $CHTR Shares Sold by Prudential PLC

Key Points

• Prudential PLC reduced its stake in Charter Communications by 41.8%, selling 1,158 shares during the first quarter, leaving it with 1,611 shares valued at approximately $594,000.
• Key institutional investors, including Resona Asset Management and Callan Family Office, increased their holdings in Charter Communications during the same period, indicating strong institutional interest in the stock.
• Charter Communications reported earnings of $9.18 per share for the last quarter, missing estimates, while its stock currently has a consensus price target of $410.59 among analysts.

Prudential PLC decreased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 41.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,611 shares of the company's stock after selling 1,158 shares during the period. Prudential PLC's holdings in Charter Communications were worth $594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SouthState Corp purchased a new position in shares of Charter Communications during the first quarter valued at approximately $25,000. ST Germain D J Co. Inc. lifted its stake in shares of Charter Communications by 1,283.3% during the first quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock valued at $31,000 after buying an additional 77 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of Charter Communications by 93.2% during the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock valued at $31,000 after buying an additional 41 shares during the period. Strengthening Families & Communities LLC purchased a new position in shares of Charter Communications during the first quarter valued at approximately $33,000. Finally, Larson Financial Group LLC lifted its stake in shares of Charter Communications by 70.2% during the first quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 81.76% of the company's stock.

Charter Communications Trading Up 0.5%

Shares of CHTR stock traded up $1.36 during mid-day trading on Thursday, reaching $267.98. The company's stock had a trading volume of 1,185,648 shares, compared to its average volume of 2,876,170. The company's 50 day simple moving average is $344.94 and its 200-day simple moving average is $362.38. Charter Communications, Inc. has a 12-month low of $254.67 and a 12-month 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. The firm has a market capitalization of $36.60 billion, a PE ratio of 7.34, a price-to-earnings-growth ratio of 0.60 and a beta of 1.02.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $13.76 billion. During the same period in the prior year, the business posted $8.49 EPS. The business's revenue was up .6% on a year-over-year basis. On average, research analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada reduced their price objective 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. UBS Group dropped their price target on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Wall Street Zen raised shares of Charter Communications from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Raymond James Financial raised shares of Charter Communications from an "underperform" rating to a "market perform" rating in a research report on Monday, May 19th. Finally, Wolfe Research raised shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a research report on Friday, June 20th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Charter Communications has a consensus rating of "Hold" and a consensus price target of $404.71.

Insiders Place Their Bets

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