Lazard Asset Management LLC Sells 50,240 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Lazard Asset Management LLC reduced its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 62.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,640 shares of the company’s stock after selling 50,240 shares during the quarter. Lazard Asset Management LLC’s holdings in Charter Communications were worth $8,904,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wetzel Investment Advisors Inc. bought a new position in shares of Charter Communications in the 4th quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Charter Communications in the fourth quarter worth about $44,000. Cullen Frost Bankers Inc. boosted its stake in shares of Charter Communications by 769.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 113 shares of the company’s stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Bourgeon Capital Management LLC grew its holdings in shares of Charter Communications by 219.5% during the 4th quarter. Bourgeon Capital Management LLC now owns 131 shares of the company’s stock valued at $51,000 after purchasing an additional 90 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Charter Communications during the first quarter worth $40,000. Institutional investors and hedge funds own 81.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CHTR. Citigroup downgraded shares of Charter Communications from a “neutral” rating to a “sell” rating and cut their target price for the stock from $280.00 to $255.00 in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on Charter Communications from $375.00 to $320.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Rosenblatt Securities reduced their target price on Charter Communications from $297.00 to $292.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Pivotal Research decreased 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 note on Monday, April 29th. Finally, The Goldman Sachs Group started coverage on Charter Communications in a report on Monday, July 1st. They issued a “sell” rating and a $250.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $331.80.

Charter Communications Stock Performance

NASDAQ:CHTR traded up $52.39 on Friday, reaching $367.62. 4,962,708 shares of the company’s stock were exchanged, compared to its average volume of 1,439,480. The stock has a fifty day simple moving average of $292.90 and a 200-day simple moving average of $295.64. The firm has a market cap of $52.95 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 1.64 and a beta of 1.04. Charter Communications, Inc. has a 52 week low of $236.08 and a 52 week high of $458.30. The company has a debt-to-equity ratio of 6.28, a current ratio of 0.40 and a quick ratio of 0.40.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, July 26th. The company reported $8.49 earnings per share for the quarter, beating analysts’ consensus estimates of $7.55 by $0.94. Charter Communications had a return on equity of 31.42% and a net margin of 8.50%. The business had revenue of $13.69 billion during the quarter, compared to analyst estimates of $13.59 billion. During the same quarter in the previous year, the firm earned $8.05 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Charter Communications, Inc. will post 30.5 earnings per share for the current year.

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.