Swedbank AB Sells 10,422 Shares of Charter Communications, Inc. $CHTR

Key Points

• Swedbank AB reduced 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’s latest earnings missed expectations, reporting $9.17 EPS versus the $10.01 consensus, though revenue of $13.60 billion slightly topped forecasts. The company also saw revenue decline 1.0% year over year.
• Analyst sentiment remains cautious after multiple firms cut price targets; Charter now has an average “Hold” rating and an average target price of $315.67, while the stock traded near its 52-week low around $154.86.

Swedbank AB cut its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 21.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing.

Other institutional investors have also recently modified their holdings of the company. Optimize Financial Inc purchased a new stake in Charter Communications during the 3rd quarter valued at about $1,557,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Charter Communications by 245.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,717 shares of the company's stock valued at $4,069,000 after acquiring an additional 10,455 shares during the period. AustralianSuper Pty Ltd purchased a new stake in Charter Communications during the 3rd quarter valued at about $28,651,000. Rakuten Investment Management Inc. purchased a new stake in Charter Communications during the 3rd quarter valued at about $5,260,000. Finally, Estate Counselors LLC purchased a new stake in Charter Communications during the 3rd quarter valued at about $3,850,000. 81.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CHTR. Citigroup dropped their target price on Charter Communications from $290.00 to $230.00 and set a "buy" rating for the company in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft dropped their target price on Charter Communications from $235.00 to $215.00 and set a "hold" 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. JPMorgan Chase & Co. initiated coverage on Charter Communications in a report on Wednesday, April 29th. They set a "neutral" rating and a $215.00 target price for the company. Finally, Benchmark dropped their price objective on Charter Communications from $455.00 to $435.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, Charter Communications presently has an average rating of "Hold" and an average target price of $315.67.

Charter Communications Trading Down 3.4%

NASDAQ CHTR opened at $154.86 on Friday. Charter Communications, Inc. has a fifty-two week low of $154.70 and a fifty-two week high of $437.06. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a 50 day simple moving average of $214.85 and a two-hundred day simple moving average of $213.88. The stock has a market cap of $19.05 billion, a P/E ratio of 4.18, a price-to-earnings-growth ratio of 0.27 and a beta of 0.76.

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 the consensus estimate of $10.01 by ($0.84). Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The business had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.56 billion. During the same quarter last year, the business posted $8.42 EPS. The company's quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts forecast that Charter Communications, Inc. will post 43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Christopher L. Winfrey bought 3,468 shares of the stock in a transaction dated Tuesday, April 28th. The stock was bought at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the purchase, the chief executive officer directly owned 74,409 shares in the company, valued at $12,815,462.07. This trade represents a 4.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wade Davis bought 5,728 shares of the stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average price of $173.72 per share, with a total value of $995,068.16. Following the purchase, the director owned 6,925 shares in the company, valued at $1,203,011. This trade represents a 478.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 10,196 shares of company stock worth $1,767,822. 1.10% of the stock is currently owned by company insiders.

Charter Communications Company 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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