Handelsbanken Fonder AB Reduces Holdings in Charter Communications, Inc. $CHTR

Handelsbanken Fonder AB lowered its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 26.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,136 shares of the company’s stock after selling 8,701 shares during the quarter. Handelsbanken Fonder AB’s holdings in Charter Communications were worth $5,038,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. First Eagle Investment Management LLC grew its position in Charter Communications by 119.6% in the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock worth $619,885,000 after acquiring an additional 1,617,148 shares during the period. State Street Corp increased its stake in Charter Communications by 22.7% during the third quarter. State Street Corp now owns 7,961,695 shares of the company’s stock worth $2,190,302,000 after acquiring an additional 1,475,383 shares during the last quarter. Capital Research Global Investors purchased a new stake in Charter Communications in the third quarter valued at $327,179,000. Vanguard Group Inc. lifted its stake in shares of Charter Communications by 13.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock valued at $2,575,630,000 after purchasing an additional 1,130,648 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Charter Communications by 826.1% during the 3rd quarter. AQR Capital Management LLC now owns 1,244,034 shares of the company’s stock worth $342,240,000 after purchasing an additional 1,109,703 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Price Performance

CHTR stock opened at $145.15 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. The company has a market capitalization of $17.85 billion, a PE ratio of 3.92, a P/E/G ratio of 0.26 and a beta of 0.76. Charter Communications, Inc. has a 12-month low of $136.63 and a 12-month high of $422.29. The business’s fifty day moving average price is $196.70 and its 200 day moving average price is $206.55.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.01 by ($0.84). The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. Charter Communications’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.42 EPS. On average, sell-side analysts anticipate that Charter Communications, Inc. will post 43 EPS for the current year.

Wall Street Analyst Weigh In

CHTR has been the subject of a number of recent analyst reports. KeyCorp reissued a “sector weight” rating on shares of Charter Communications in a research report on Monday, January 26th. Royal Bank Of Canada lowered their target price on shares of Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Wells Fargo & Company lifted their price target on shares of Charter Communications from $180.00 to $200.00 and gave the company an “underweight” rating in a research report on Monday, February 2nd. UBS Group set a $425.00 price objective on shares of Charter Communications in a report on Thursday, January 29th. Finally, Citigroup lowered their price objective on shares of Charter Communications from $290.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $290.38.

Insider Transactions at Charter Communications

In other news, Director Balan Nair acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average price of $175.46 per share, for a total transaction of $175,460.00. Following the acquisition, the director owned 12,029 shares of the company’s stock, valued at $2,110,608.34. This represents a 9.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wade Davis acquired 5,728 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average price of $173.72 per share, for a total transaction of $995,068.16. Following the acquisition, the director directly owned 6,925 shares in the company, valued at approximately $1,203,011. This trade represents a 478.53% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 20,125 shares of company stock worth $3,167,116 over the last quarter. 1.10% of the stock is owned by corporate insiders.

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.