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

Handelsbanken Fonder AB cut its position in Charter Communications, Inc. (NASDAQ:CHTR) by 26.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,005 shares of the company’s stock after selling 5,654 shares during the period. Handelsbanken Fonder AB’s holdings in Charter Communications were worth $2,276,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors increased its holdings in Charter Communications by 304.9% in the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock worth $1,005,222,000 after buying an additional 3,626,135 shares during the period. Dodge & Cox raised its position in Charter Communications by 23.7% during the 4th quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock worth $3,049,675,000 after buying an additional 2,801,671 shares during the last quarter. Norges Bank acquired a new stake in Charter Communications during the 4th quarter valued at approximately $555,383,000. Voyager Global Management LP boosted its holdings in shares of Charter Communications by 1,380.0% in the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock valued at $386,188,000 after acquiring an additional 1,725,000 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Charter Communications by 119.6% in the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after acquiring an additional 1,617,148 shares during the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Price Performance

CHTR stock opened at $154.27 on Monday. Charter Communications, Inc. has a 52 week low of $111.55 and a 52 week high of $285.82. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The firm has a 50-day simple moving average of $138.29 and a 200-day simple moving average of $178.67. The stock has a market capitalization of $18.40 billion, a P/E ratio of 4.01, a P/E/G ratio of 0.26 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The firm had revenue of $13.53 billion for the quarter, compared to analyst estimates of $13.51 billion. During the same period last year, the company posted $9.18 EPS. Charter Communications’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts forecast that Charter Communications, Inc. will post 42.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CHTR has been the subject of several recent research reports. Benchmark reissued a “buy” rating on shares of Charter Communications in a report on Wednesday, July 22nd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $150.00 price target on shares of Charter Communications in a research report on Monday, July 27th. BNP Paribas Exane reduced their price objective on Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lowered their target price on Charter Communications from $200.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Finally, The Goldman Sachs Group dropped their target price on Charter Communications from $185.00 to $125.00 and set a “sell” rating on the stock in a report on Thursday, July 2nd. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $226.88.

Insider Activity

In other news, Director Thomas Rutledge sold 18,200 shares of Charter Communications stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total value of $2,674,308.00. Following the sale, the director directly owned 3,968 shares of the company’s stock, valued at $583,057.92. The trade was a 82.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by corporate insiders.

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.