Franklin Resources Inc. Decreases Holdings in Charter Communications, Inc. $CHTR

Franklin Resources Inc. lowered its position in Charter Communications, Inc. (NASDAQ:CHTR) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,581,035 shares of the company’s stock after selling 425,770 shares during the period. Franklin Resources Inc. owned approximately 2.04% of Charter Communications worth $538,791,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position 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 valued at $35,000 after buying an additional 55 shares in the last quarter. Rakuten Securities Inc. raised its position in Charter Communications by 535.0% during the second quarter. Rakuten Securities Inc. now owns 127 shares of the company’s stock worth $52,000 after acquiring an additional 107 shares during the last quarter. Caitlin John LLC acquired a new stake in Charter Communications during the 3rd quarter valued at $41,000. Manchester Capital Management LLC increased its position in Charter Communications by 1,600.0% during the 4th quarter. Manchester Capital Management LLC now owns 187 shares of the company’s stock worth $39,000 after purchasing an additional 176 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in shares of Charter Communications in the second quarter valued at approximately $116,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Price Performance

NASDAQ CHTR opened at $132.20 on Tuesday. The company has a 50-day moving average price of $179.78 and a two-hundred day moving average price of $200.85. Charter Communications, Inc. has a 52 week low of $126.70 and a 52 week high of $422.29. The stock has a market cap of $16.26 billion, a price-to-earnings ratio of 3.57, a price-to-earnings-growth ratio of 0.23 and a beta of 0.72. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing the consensus estimate of $10.01 by ($0.84). The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $8.42 EPS. Analysts forecast that Charter Communications, Inc. will post 43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CHTR shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Charter Communications in a research note on Friday, March 27th. Citigroup decreased their price target on Charter Communications from $290.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 27th. Sanford C. Bernstein reissued a “market perform” rating and issued a $210.00 price target on shares of Charter Communications in a report on Tuesday, May 26th. Benchmark cut their target price on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Finally, New Street Research reduced their price target on shares of Charter Communications from $328.00 to $302.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $290.38.

Insider Buying and Selling

In other news, Director Thomas Rutledge sold 18,200 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the completion of the transaction, the director owned 3,968 shares in the company, valued at approximately $583,057.92. This trade represents a 82.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mauricio Ramos purchased 9,929 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $140.93 per share, for a total transaction of $1,399,293.97. Following the transaction, the director owned 19,309 shares of the company’s stock, valued at $2,721,217.37. The trade was a 105.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 20,125 shares of company stock worth $3,167,116 in the last ninety days. Insiders own 1.10% of the company’s stock.

Charter Communications Company Profile

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.