Commonwealth Equity Services LLC Reduces Stake in Charter Communications, Inc. (NASDAQ:CHTR)

Commonwealth Equity Services LLC reduced its position in Charter Communications, Inc. (NASDAQ:CHTR) by 36.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,376 shares of the company’s stock after selling 4,283 shares during the period. Commonwealth Equity Services LLC’s holdings in Charter Communications were worth $2,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CHTR. Wetzel Investment Advisors Inc. purchased a new position in Charter Communications during the fourth quarter valued at $25,000. Riverview Trust Co purchased a new position in shares of Charter Communications in the first quarter valued at about $40,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Charter Communications in the fourth quarter valued at about $44,000. Cullen Frost Bankers Inc. lifted its position in shares of Charter Communications by 769.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 113 shares of the company’s stock valued at $44,000 after acquiring an additional 100 shares in the last quarter. Finally, Bourgeon Capital Management LLC lifted its position in shares of Charter Communications by 219.5% in the fourth quarter. Bourgeon Capital Management LLC now owns 131 shares of the company’s stock valued at $51,000 after acquiring an additional 90 shares in the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup downgraded Charter Communications from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $280.00 to $255.00 in a research report on Wednesday. Sanford C. Bernstein upgraded Charter Communications from a “market perform” rating to an “outperform” rating and set a $370.00 price objective on the stock in a research report on Monday, March 18th. Pivotal Research lowered their price objective on Charter Communications from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Barclays reduced their target price on Charter Communications from $280.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group initiated coverage on Charter Communications in a report on Monday. They issued a “sell” rating and a $250.00 target price on the stock. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Charter Communications presently has a consensus rating of “Hold” and a consensus target price of $341.47.

Charter Communications Trading Up 0.2 %

NASDAQ CHTR traded up $0.54 during trading hours on Friday, hitting $301.79. 226,617 shares of the company were exchanged, compared to its average volume of 1,441,534. The stock has a 50-day moving average price of $277.63 and a 200 day moving average price of $303.83. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 6.28. Charter Communications, Inc. has a 52 week low of $236.08 and a 52 week high of $458.30. The stock has a market cap of $43.47 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.30 and a beta of 1.04.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, April 26th. The company reported $7.55 earnings per share for the quarter, missing the consensus estimate of $7.78 by ($0.23). Charter Communications had a return on equity of 31.42% and a net margin of 8.50%. The company had revenue of $13.68 billion for the quarter, compared to the consensus estimate of $13.75 billion. During the same period in the previous year, the firm earned $6.65 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. Analysts forecast that Charter Communications, Inc. will post 32.15 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.