WINTON GROUP Ltd Sells 10,635 Shares of Charter Communications, Inc. $CHTR

Key Points

• WINTON GROUP Ltd cut its Charter Communications stake by 67.6% in the second quarter, selling 10,635 shares and retaining 5,088 shares valued at approximately $724,000.
• Charter shares opened at $143.35, down 1.7%, while the company reported quarterly adjusted earnings of $10.66 per share, exceeding estimates, despite revenue declining 1.7% year over year.
• Analyst sentiment remains cautious: Charter has an average “Reduce” rating and a $216.56 price target, with five Buy, ten Hold, and six Sell ratings.

WINTON GROUP Ltd lessened its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 67.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,088 shares of the company's stock after selling 10,635 shares during the quarter. WINTON GROUP Ltd's holdings in Charter Communications were worth $724,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CHTR. California State Teachers Retirement System raised its holdings in shares of Charter Communications by 18,016.6% in the second quarter. California State Teachers Retirement System now owns 20,290,238 shares of the company's stock valued at $2,885,475,000 after buying an additional 20,178,240 shares during the last quarter. Capital Research Global Investors grew its holdings in Charter Communications by 304.9% during the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company's stock worth $1,005,222,000 after acquiring an additional 3,626,135 shares during the last quarter. Norges Bank acquired a new stake in Charter Communications in the 4th quarter valued at about $555,383,000. State of Michigan Retirement System raised its stake in shares of Charter Communications by 1,547.4% in the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company's stock worth $93,170,000 after acquiring an additional 405,385 shares during the last quarter. Finally, Lind Value II ApS raised its stake in shares of Charter Communications by 180.5% in the fourth quarter. Lind Value II ApS now owns 618,373 shares of the company's stock worth $129,085,000 after acquiring an additional 397,928 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors.

Charter Communications Stock Down 1.7%

Shares of NASDAQ:CHTR opened at $143.35 on Tuesday. Charter Communications, Inc. has a one year low of $111.55 and a one year high of $285.82. The company has a 50 day moving average of $143.81 and a 200-day moving average of $167.52. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of 3.72, a P/E/G ratio of 0.31 and a beta of 0.69.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, topping analysts' consensus estimates of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The business had revenue of $13.53 billion during the quarter, compared to the consensus estimate of $13.51 billion. During the same period in the previous year, the firm posted $9.18 earnings per share. Charter Communications's revenue for the quarter was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Charter Communications, Inc. will post 42.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CHTR. The Goldman Sachs Group decreased their price target on shares of Charter Communications from $185.00 to $125.00 and set a "sell" rating on the stock in a research note on Thursday, July 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Charter Communications from $200.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Bank of America reaffirmed a "buy" rating on shares of Charter Communications in a report on Monday, July 27th. Zacks Research upgraded Charter Communications from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, New Street Research lowered their target price on Charter Communications from $328.00 to $302.00 and set a "buy" rating for the company in a research note on Wednesday, May 20th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $216.56.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company's consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.

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