Massachusetts Financial Services Co. MA Reduces Holdings in Charter Communications, Inc. (NASDAQ:CHTR)

Massachusetts Financial Services Co. MA trimmed its position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 17.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,518,167 shares of the company's stock after selling 531,080 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.70% of Charter Communications worth $978,761,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. USA Financial Formulas acquired a new position in Charter Communications during the fourth quarter worth $1,072,000. Envestnet Portfolio Solutions Inc. boosted its stake in Charter Communications by 7.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 620 shares of the company's stock worth $241,000 after buying an additional 45 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Charter Communications by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 642,061 shares of the company's stock worth $249,575,000 after buying an additional 21,203 shares during the last quarter. Jump Financial LLC acquired a new position in Charter Communications during the fourth quarter worth $290,000. Finally, NBC Securities Inc. boosted its stake in Charter Communications by 5,028.7% during the fourth quarter. NBC Securities Inc. now owns 6,616 shares of the company's stock worth $2,571,000 after buying an additional 6,487 shares during the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CHTR. Citigroup lowered their price objective on Charter Communications from $300.00 to $280.00 and set a "neutral" rating on the stock in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Charter Communications from $375.00 to $320.00 and set a "hold" rating on the stock in a research report on Tuesday, April 16th. Pivotal Research dropped their price target on shares of Charter Communications from $450.00 to $400.00 and set a "buy" rating for the company in a research report on Monday, April 29th. Loop Capital decreased their price objective on shares of Charter Communications from $335.00 to $285.00 and set a "hold" rating on the stock in a report on Monday, April 29th. Finally, Sanford C. Bernstein raised shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $370.00 price objective for the company in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Charter Communications has a consensus rating of "Hold" and an average price target of $356.47.

Charter Communications Stock Performance

Shares of NASDAQ CHTR traded down $0.90 during midday trading on Monday, reaching $274.65. 918,578 shares of the company were exchanged, compared to its average volume of 1,578,868. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 6.28. Charter Communications, Inc. has a 1 year low of $236.08 and a 1 year high of $458.30. The stock has a fifty day simple moving average of $275.66 and a 200 day simple moving average of $334.43. The stock has a market cap of $39.56 billion, a P/E ratio of 8.88, a PEG ratio of 1.11 and a beta of 0.97.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The company reported $7.55 earnings per share for the quarter, missing analysts' consensus estimates of $7.78 by ($0.23). Charter Communications had a net margin of 8.50% and a return on equity of 31.42%. The business had revenue of $13.68 billion during the quarter, compared to analysts' expectations of $13.75 billion. During the same period in the prior year, the firm posted $6.65 EPS. Charter Communications's revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts forecast that Charter Communications, Inc. will post 32.02 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.