Capital Group Private Client Services Inc. Decreases Holdings in Charter Communications, Inc. $CHTR

Capital Group Private Client Services Inc. decreased its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 76.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,021 shares of the company’s stock after selling 79,030 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Charter Communications were worth $6,883,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new stake in Charter Communications in the 2nd quarter worth about $25,000. Webster Bank N. A. purchased a new position in shares of Charter Communications in the third quarter valued at approximately $28,000. Heritage Wealth Advisors purchased a new position in shares of Charter Communications in the second quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Charter Communications in the third quarter worth approximately $30,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Charter Communications by 141.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Stock Down 4.1%

Shares of NASDAQ:CHTR opened at $222.81 on Tuesday. Charter Communications, Inc. has a 52-week low of $180.38 and a 52-week high of $437.06. The stock has a market cap of $28.21 billion, a P/E ratio of 6.14, a PEG ratio of 0.37 and a beta of 1.02. The business has a fifty day moving average of $215.84 and a two-hundred day moving average of $229.78. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 4.65.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, January 30th. The company reported $10.34 EPS for the quarter, missing the consensus estimate of $10.40 by ($0.06). The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.73 billion. Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.10 EPS. On average, research analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Zacks Research raised Charter Communications from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. TD Cowen lifted their target price on shares of Charter Communications from $428.00 to $437.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. New Street Research dropped their target price on shares of Charter Communications from $479.00 to $328.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Charter Communications in a research note on Monday, December 29th. Finally, UBS Group set a $425.00 price target on shares of Charter Communications in a research report on Thursday, January 29th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, Charter Communications has an average rating of “Hold” and an average target price of $335.11.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.