Sumitomo Mitsui Trust Group Inc. Sells 11,045 Shares of Charter Communications, Inc. $CHTR

Key Points

• Sumitomo Mitsui Trust Group reduced its Charter Communications stake by 5.0% in the first quarter, selling 11,045 shares and ending with 210,787 shares valued at about $45.5 million.
• Charter Communications reported Q1 earnings of $9.17 per share, missing analyst estimates of $10.01, even though revenue of $13.6 billion slightly beat expectations.
• Analyst sentiment remains cautious: several firms cut price targets, and MarketBeat shows Charter with an average rating of "Reduce" and an average price target of $255.69.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 5.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 210,787 shares of the company's stock after selling 11,045 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.17% of Charter Communications worth $45,505,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CHTR. Quarry LP boosted its position in Charter Communications by 153.2% during the 4th quarter. Quarry LP now owns 119 shares of the company's stock valued at $25,000 after acquiring an additional 72 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of Charter Communications in the 4th quarter worth $25,000. DV Equities LLC purchased a new stake in shares of Charter Communications during the 4th quarter worth $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $35,000 after purchasing an additional 55 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its position in Charter Communications by 1,600.0% during the fourth quarter. Manchester Capital Management LLC now owns 187 shares of the company's stock valued at $39,000 after purchasing an additional 176 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Price Performance

NASDAQ:CHTR opened at $130.73 on Monday. The firm's fifty day moving average is $140.64 and its two-hundred day moving average is $189.41. The firm has a market cap of $16.08 billion, a price-to-earnings ratio of 3.53, a PEG ratio of 0.23 and a beta of 0.71. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40. Charter Communications, Inc. has a one year low of $124.05 and a one year high of $402.15.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing analysts' consensus estimates of $10.01 by ($0.84). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The firm had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.56 billion. During the same period in the previous year, the firm posted $8.42 EPS. The firm's quarterly revenue was down 1.0% on a year-over-year basis. Research analysts expect that Charter Communications, Inc. will post 42.06 EPS for the current year.

Insider Buying and Selling at Charter Communications

In other news, Director Balan Nair bought 1,000 shares of the firm's stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average price of $175.46 per share, for a total transaction of $175,460.00. Following the completion of the transaction, the director directly owned 12,029 shares in the company, valued at $2,110,608.34. The trade was a 9.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wade Davis purchased 5,728 shares of the stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average cost of $173.72 per share, for a total transaction of $995,068.16. Following the completion of the purchase, the director directly owned 6,925 shares of the company's stock, valued at approximately $1,203,011. The trade was a 478.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 20,125 shares of company stock valued at $3,167,116. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CHTR shares. Sanford C. Bernstein reiterated a "market perform" rating and issued a $210.00 target price on shares of Charter Communications in a report on Tuesday, May 26th. 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. Freedom Capital raised shares of Charter Communications to a "hold" rating in a research report on Friday, June 12th. Barclays reduced their price objective on shares of Charter Communications from $200.00 to $130.00 and set an "underweight" rating for the company in a research note on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Charter Communications from $235.00 to $215.00 and set a "hold" rating for the company in a research report on Monday, April 27th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, Charter Communications presently has an average rating of "Reduce" and an average price target of $255.69.

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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