Swedbank AB Decreases Stake in Charter Communications, Inc. $CHTR

Key Points

• Swedbank AB cut its Charter Communications stake by 21.7% in the fourth quarter, selling 10,422 shares and leaving it with 37,651 shares worth about $7.86 million.
• Charter reported mixed quarterly results, with EPS of $9.17 missing estimates but revenue of $13.60 billion slightly topping expectations; revenue still fell 1.0% year over year.
• Analyst sentiment remains cautious, with several firms trimming price targets and the stock carrying an average “Reduce” rating and consensus price target of $290.38, even as two directors recently bought shares.

Swedbank AB lowered its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 21.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 37,651 shares of the company's stock after selling 10,422 shares during the quarter. Swedbank AB's holdings in Charter Communications were worth $7,860,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings 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 period. Rakuten Securities Inc. boosted its holdings in Charter Communications by 535.0% in the 2nd quarter. Rakuten Securities Inc. now owns 127 shares of the company's stock worth $52,000 after acquiring an additional 107 shares during the period. Root Financial Partners LLC purchased a new position in Charter Communications in the 3rd quarter worth approximately $38,000. Caitlin John LLC purchased a new position in Charter Communications in the 3rd quarter worth approximately $41,000. Finally, MUFG Securities EMEA plc purchased a new position in Charter Communications in the 2nd quarter worth approximately $116,000. Hedge funds and other institutional investors own 81.76% of the company's stock.

Charter Communications Stock Performance

Charter Communications stock opened at $144.00 on Wednesday. The stock has a market cap of $17.71 billion, a P/E ratio of 3.89, a price-to-earnings-growth ratio of 0.25 and a beta of 0.76. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. The stock has a 50 day moving average of $193.82 and a 200-day moving average of $205.34. Charter Communications, Inc. has a 52 week low of $136.63 and a 52 week high of $422.29.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing the consensus estimate of $10.01 by ($0.84). The business had revenue of $13.60 billion for the quarter, compared to analysts' expectations of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $8.42 earnings per share. On average, analysts expect that Charter Communications, Inc. will post 43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CHTR shares. Citigroup decreased their price target on Charter Communications from $290.00 to $230.00 and set a "buy" rating for the company in a report on Monday, April 27th. Weiss Ratings restated a "sell (d+)" rating on shares of Charter Communications in a report on Friday, March 27th. Royal Bank Of Canada decreased their price target on Charter Communications from $250.00 to $220.00 and set a "sector perform" rating for the company in a report on Monday, April 27th. UBS Group set a $425.00 price target on Charter Communications in a report on Thursday, January 29th. Finally, Zacks Research upgraded Charter Communications from a "strong sell" rating to a "hold" rating in a report on Monday, February 16th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, Charter Communications has an average rating of "Reduce" and an average price target of $290.38.

Insiders Place Their Bets

In other Charter Communications news, Director Wade Davis bought 5,728 shares of Charter Communications stock in a transaction dated Tuesday, April 28th. The stock was bought at an average cost of $173.72 per share, for a total transaction of $995,068.16. Following the purchase, the director owned 6,925 shares in the company, valued at $1,203,011. This represents a 478.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Balan Nair bought 1,000 shares of Charter Communications stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average price of $175.46 per share, with a total value of $175,460.00. Following the completion of the purchase, the director owned 12,029 shares in the company, valued at approximately $2,110,608.34. The trade was a 9.07% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 20,125 shares of company stock valued at $3,167,116. Corporate insiders own 1.10% of the company's stock.

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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