Pictet Asset Management Holding SA Sells 47,490 Shares of Charter Communications, Inc. $CHTR

Pictet Asset Management Holding SA cut its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 49.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 48,693 shares of the company’s stock after selling 47,490 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Charter Communications were worth $10,512,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CHTR. Ground Swell Capital LLC bought a new stake in Charter Communications in the first quarter valued at $787,000. Louisiana State Employees Retirement System bought a new position in shares of Charter Communications during the first quarter valued at $2,742,000. Blue Trust Inc. lifted its holdings in shares of Charter Communications by 5.8% during the first quarter. Blue Trust Inc. now owns 10,450 shares of the company’s stock valued at $2,256,000 after acquiring an additional 572 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of Charter Communications by 404.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,474 shares of the company’s stock valued at $1,182,000 after purchasing an additional 4,388 shares in the last quarter. Finally, OP Asset Management Ltd acquired a new stake in shares of Charter Communications in the 1st quarter valued at $3,149,000. Institutional investors own 81.76% of the company’s stock.

Insider Activity

In related news, CEO Christopher L. Winfrey acquired 3,468 shares of the stock in a transaction on Tuesday, April 28th. The stock was purchased at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the transaction, the chief executive officer owned 74,409 shares of the company’s stock, valued at $12,815,462.07. The trade was a 4.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Rutledge sold 18,200 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was 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 directly owned 3,968 shares of the company’s stock, valued at approximately $583,057.92. This represents a 82.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have purchased 20,125 shares of company stock worth $3,167,116. 1.10% of the stock is currently owned by insiders.

Charter Communications Price Performance

Shares of CHTR stock opened at $137.20 on Friday. Charter Communications, Inc. has a 52 week low of $124.05 and a 52 week high of $422.29. The stock has a market capitalization of $16.87 billion, a PE ratio of 3.71, a PEG ratio of 0.24 and a beta of 0.71. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40. The stock’s fifty day moving average is $145.77 and its 200-day moving average is $192.11.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.42 earnings per share. Equities research analysts expect that Charter Communications, Inc. will post 42.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Freedom Capital upgraded shares of Charter Communications to a “hold” rating in a research report on Friday, June 12th. Sanford C. Bernstein restated a “market perform” rating and issued a $210.00 price target on shares of Charter Communications in a research report on Tuesday, May 26th. Royal Bank Of Canada decreased their price objective on shares of Charter Communications from $250.00 to $220.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Charter Communications in a report on Wednesday, June 24th. Finally, UBS Group reiterated a “neutral” rating and issued a $235.00 target price on shares of Charter Communications in a research note on Thursday, June 25th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $262.56.

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.