State of New Jersey Common Pension Fund D Sells 3,159 Shares of Charter Communications, Inc. $CHTR

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Charter Communications by 9.2%, selling 3,159 shares and holding 31,195 shares worth approximately $11.5 million at the end of the quarter.
• Wall Street analysts have mixed opinions on Charter, with nine buy ratings, eight hold ratings, and three sell ratings, while the average target price for the stock is $410.59.
• Charter Communications reported earnings per share of $9.18, missing analyst expectations of $10.06, but showed a small year-over-year revenue increase of 0.6%.

State of New Jersey Common Pension Fund D cut its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 9.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,195 shares of the company's stock after selling 3,159 shares during the period. State of New Jersey Common Pension Fund D's holdings in Charter Communications were worth $11,496,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CHTR. Envestnet Asset Management Inc. boosted its position in Charter Communications by 5.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 27,829 shares of the company's stock valued at $9,539,000 after buying an additional 1,371 shares during the last quarter. Raymond James Financial Inc. bought a new position in Charter Communications in the 4th quarter valued at $14,870,000. United Capital Financial Advisors LLC boosted its position in Charter Communications by 2.9% in the 4th quarter. United Capital Financial Advisors LLC now owns 3,651 shares of the company's stock valued at $1,251,000 after buying an additional 104 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Charter Communications by 158.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 53,147 shares of the company's stock valued at $18,217,000 after buying an additional 32,600 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in Charter Communications by 4.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 91,293 shares of the company's stock valued at $31,279,000 after buying an additional 3,646 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley increased their price objective on Charter Communications from $385.00 to $415.00 and gave the company an "equal weight" rating in a research report 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 on the stock in a research report on Monday, July 28th. Raymond James Financial upgraded Charter Communications from an "underperform" rating to a "market perform" rating in a research report on Monday, May 19th. Wall Street Zen upgraded Charter Communications from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company began coverage on Charter Communications in a research report on Thursday. They issued an "equal weight" rating and a $300.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Charter Communications currently has an average rating of "Hold" and a consensus target price of $404.71.

Charter Communications Trading Up 0.5%

Charter Communications stock traded up $1.36 during mid-day trading on Thursday, hitting $267.98. 1,172,045 shares of the company's stock were exchanged, compared to its average volume of 1,489,799. The firm has a market capitalization of $36.60 billion, a P/E ratio of 7.34, a PEG ratio of 0.60 and a beta of 1.02. Charter Communications, Inc. has a fifty-two week low of $254.67 and a fifty-two 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. The company's 50 day simple moving average is $347.52 and its 200-day simple moving average is $362.89.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $8.49 EPS. The business's quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Insider Activity

In other news, Director Balan Nair purchased 360 shares of the company's stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $274.21 per share, with a total value of $98,715.60. Following the purchase, the director directly owned 9,622 shares of the company's stock, valued at $2,638,448.62. This trade represents a 3.89% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the company's stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost of $273.10 per share, for a total transaction of $1,002,277.00. Following the purchase, the chief executive officer directly owned 70,243 shares in the company, valued at approximately $19,183,363.30. This trade 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 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.