Swiss National Bank Cuts Position in Charter Communications, Inc. $CHTR

Key Points

• Swiss National Bank trimmed its stake in Charter by 8.4%, selling 23,400 shares and ending the quarter with 256,016 shares worth about $70.43 million.
• Other large institutions were active: Vanguard increased its holding to 9.36M shares (~$2.58B), State Street and JPMorgan added shares, and Norges Bank initiated a roughly $1.15B stake, leaving institutional ownership at about 81.76%.
• Company outlook: Charter traded near $224 with a $28.4B market cap and P/E of 6.18; it slightly missed quarterly EPS and saw revenue down 2.3% YoY, while analysts carry a consensus "Hold" and an average price target of $335.11.

Swiss National Bank trimmed its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 256,016 shares of the company's stock after selling 23,400 shares during the quarter. Swiss National Bank owned approximately 0.20% of Charter Communications worth $70,431,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Charter Communications by 13.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company's stock valued at $2,575,630,000 after acquiring an additional 1,130,648 shares during the last quarter. State Street Corp lifted its stake in Charter Communications by 3.2% during the second quarter. State Street Corp now owns 6,486,312 shares of the company's stock worth $2,651,669,000 after purchasing an additional 198,979 shares during the last quarter. Norges Bank bought a new stake in Charter Communications during the second quarter valued at $1,145,387,000. Geode Capital Management LLC lifted its position in shares of Charter Communications by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 2,595,167 shares of the company's stock worth $1,056,800,000 after buying an additional 41,206 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Charter Communications by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,288,208 shares of the company's stock valued at $629,498,000 after buying an additional 42,499 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Trading Up 2.3%

NASDAQ:CHTR opened at $224.36 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 4.65. The firm has a market capitalization of $28.41 billion, a price-to-earnings ratio of 6.18, a price-to-earnings-growth ratio of 0.35 and a beta of 1.02. Charter Communications, Inc. has a 1-year low of $180.38 and a 1-year high of $437.06. The stock has a fifty day simple moving average of $216.34 and a 200 day simple moving average of $229.34.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings results on Friday, January 30th. The company reported $10.34 earnings per share for the quarter, missing analysts' consensus estimates of $10.40 by ($0.06). Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.The firm had revenue of $13.60 billion for the quarter, compared to analysts' expectations of $13.73 billion. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the business earned $10.10 earnings per share. Sell-side analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Williams Trading set a $437.00 price objective on shares of Charter Communications in a research note on Monday, February 2nd. New Street Research dropped their price target on Charter Communications from $479.00 to $328.00 and set a "buy" rating on the stock in a research report on Thursday, February 5th. BNP Paribas Exane reduced their price objective on Charter Communications from $160.00 to $150.00 and set an "underperform" rating for the company in a research report on Tuesday, February 24th. TD Cowen upped their price objective on Charter Communications from $428.00 to $437.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Charter Communications from $275.00 to $235.00 and set a "hold" rating on the stock in a research note on Tuesday, February 3rd. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $335.11.

About Charter Communications

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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