Charter Communications, Inc. $CHTR Shares Sold by WS Management Lllp

Key Points

• WS Management Lllp reduced its stake in Charter Communications, Inc. by 24.5% in the first quarter, selling 3,191 shares and holding a total of 9,809 shares, valued at approximately $3.6 million.
• Charter Communications reported a miss in earnings for the latest quarter, with earnings per share (EPS) at $9.18, below the expected $10.06, despite revenue slightly exceeding predictions at $13.77 billion.
• Several institutional investors, including Vanguard and JPMorgan Chase, significantly increased their holdings in Charter Communications, which is owned 81.76% by institutional investors overall.

WS Management Lllp lessened its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 24.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,809 shares of the company's stock after selling 3,191 shares during the quarter. Charter Communications accounts for about 0.4% of WS Management Lllp's holdings, making the stock its 25th biggest position. WS Management Lllp's holdings in Charter Communications were worth $3,615,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SouthState Corp purchased a new stake in Charter Communications in the 1st quarter valued at approximately $25,000. ST Germain D J Co. Inc. boosted its holdings in Charter Communications by 1,283.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock valued at $31,000 after purchasing an additional 77 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Charter Communications by 93.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock valued at $31,000 after purchasing an additional 41 shares in the last quarter. Strengthening Families & Communities LLC purchased a new stake in Charter Communications in the 1st quarter valued at approximately $33,000. Finally, Larson Financial Group LLC lifted its position in shares of Charter Communications by 70.2% during the 1st quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 81.76% of the company's stock.

Charter Communications Price Performance

Shares of Charter Communications stock traded up $1.95 during trading on Friday, hitting $265.58. 1,707,578 shares of the company were exchanged, compared to its average volume of 1,961,713. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. Charter Communications, Inc. has a fifty-two week low of $254.67 and a fifty-two week high of $437.06. The stock has a market capitalization of $36.28 billion, a price-to-earnings ratio of 7.27, a P/E/G ratio of 0.59 and a beta of 1.02. The firm has a 50 day moving average price of $331.68 and a 200 day moving average price of $359.17.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The company had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same quarter in the prior year, the firm earned $8.49 earnings per share. The company's revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CHTR. Oppenheimer upgraded shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price target for the company in a research report on Friday, May 16th. Loop Capital upgraded shares of Charter Communications from a "hold" rating to a "buy" rating and lifted their price target for the company from $430.00 to $510.00 in a research report on Monday, May 19th. Sanford C. Bernstein upgraded shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 price target for the company in a research report on Monday, July 28th. Arete Research upgraded shares of Charter Communications to a "strong sell" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada reduced their price target on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" rating for the company in a research report on Monday, July 28th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Charter Communications presently has an average rating of "Hold" and a consensus price target of $404.71.

Insider Activity at Charter Communications

In other Charter Communications news, CEO Christopher L. Winfrey purchased 3,670 shares of the business's stock in a transaction on Thursday, July 31st. The stock was bought at an average cost of $273.10 per share, for a total transaction of $1,002,277.00. Following the acquisition, the chief executive officer owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. The trade was a 5.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Balan Nair purchased 360 shares of the business's stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $274.21 per share, with a total value of $98,715.60. Following the completion of the acquisition, the director directly 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. Insiders own 0.83% of the company's stock.

Charter Communications 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.