Voya Investment Management LLC Sells 2,480 Shares of Charter Communications, Inc. $CHTR

Key Points

• Voya Investment Management LLC has reduced its holdings in Charter Communications by 4.1%, now owning 57,750 shares valued at approximately $21.28 million.
• Institutional investors hold 81.76% of Charter Communications' stock, with notable increases in holdings from firms like JPMorgan Chase (up 53.6%) and Vanguard Group (up 1.5%).
• Charter Communications reported $9.18 EPS for the last quarter, below the expected $10.06, and forecasted 38.16 EPS for the current fiscal year.

Voya Investment Management LLC lowered its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,750 shares of the company's stock after selling 2,480 shares during the period. Voya Investment Management LLC's holdings in Charter Communications were worth $21,282,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SouthState Corp purchased a new position in Charter Communications during the first quarter valued at $25,000. ST Germain D J Co. Inc. lifted its position in Charter Communications by 1,283.3% during the first quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock valued at $31,000 after buying an additional 77 shares during the period. SBI Securities Co. Ltd. lifted its position in Charter Communications by 93.2% during the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock valued at $31,000 after buying an additional 41 shares during the period. Strengthening Families & Communities LLC purchased a new position in Charter Communications during the first quarter valued at $33,000. Finally, Geneos Wealth Management Inc. lifted its position in Charter Communications by 141.0% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock valued at $35,000 after buying an additional 55 shares during the period. Institutional investors own 81.76% of the company's stock.

Insider Transactions at Charter Communications

In other Charter Communications news, CEO Christopher L. Winfrey bought 3,670 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the transaction, the chief executive officer owned 70,243 shares in the company, valued at $19,183,363.30. This represents a 5.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Balan Nair bought 360 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was acquired at an average cost of $274.21 per share, with a total value of $98,715.60. Following the transaction, the director owned 9,622 shares in the company, valued at $2,638,448.62. The trade was a 3.89% increase in their position. The disclosure for this purchase can be found here. 0.83% of the stock is currently owned by insiders.

Charter Communications Stock Up 0.2%

Shares of CHTR traded up $0.54 during trading hours on Friday, hitting $262.71. The company had a trading volume of 479,170 shares, compared to its average volume of 1,523,784. The firm has a fifty day moving average price of $291.58 and a 200-day moving average price of $349.71. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market capitalization of $35.88 billion, a price-to-earnings ratio of 7.20, a P/E/G ratio of 0.60 and a beta of 1.02. Charter Communications, Inc. has a 52-week low of $251.80 and a 52-week high of $437.06.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $13.76 billion. During the same period last year, the firm posted $8.49 EPS. Charter Communications's quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CHTR shares. Bank of America raised their price objective on Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. UBS Group lowered their price objective on Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. The Goldman Sachs Group started coverage on Charter Communications in a research report on Tuesday, September 2nd. They set a "sell" rating and a $223.00 price objective for the company. Arete Research raised Charter Communications to a "strong sell" rating in a research report on Tuesday, July 8th. Finally, Wolfe Research raised Charter Communications from an "underperform" rating to a "peer perform" rating in a research report on Friday, June 20th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Charter Communications presently has an average rating of "Hold" and a consensus target price of $392.94.

Charter Communications Company 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.